Makita to Acquire Panasonic's Power Tool Division
Makita has announced plans to acquire the power tool division of fellow Japanese manufacturer Panasonic Corporation.
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| Via acquisition of Panasonic's power tool division, Makita is hoping to expand into enter the factory-oriented market in a full-scale manner. |
Pending regulatory approval, Makita will acquire all product development, manufacturing and sales of Panasonic’s power tool products division, including factory and construction fastening equipment and factory?related IoT solutions.
The transaction will be executed through a company split.
Panasonic created the Electric Works Company to house its power tool division and will subsequently transfer all shares of that company to Makita, during its 2027 fiscal year, which ends March 31, 2027.
All power tool personal, approximately 31,000, are expected to transfer to Makita as part of a “seamless transition” to maintain continuity in quality product and services.
Specific details of the transaction have not been disclosed.
Panasonic has been in the power tool business since 1979, launching Japan’s first cordless power tool.
It also is recognized for development of the first impact driver with a brushless motor in 2004, an impact driver with a torque control function in 2008, and a torque measurement impact wrench in 2021.
In recent years, Panasonic has focused on the electrical construction market while expanding into the assembly and manufacturing line market.
Sale of the power tool division provides the company with an ability to focus on its solutions on electrical equipment and digital technologies. The company was facing challenges making continued investments at the scale and speed required to maintain growth of the power tool division.
Panasonic officials determined that the optimal path to accelerate growth was to combine Makita’s operational capabilities with Panasonic’s technological prowess.
"Panasonic’s decision to transfer its power tools business to the Makita Corporation was not a reflection of the business or quality of our products and manufacturing,” said a Panasonic spokesperson in a statement to Industrial Equipment News (IEN). “We anticipate that Makita will strive to uphold the same standards of quality, reliability and customer support that Panasonic has provided.”
Per available reports, Makita said it was drawn to Panasonic's capabilities in the factory fastening equipment field, particularly for its advanced torque control technologies and IoT?enabled data management solutions.
Via the combined developments, Makita believes it can enter the factory-oriented market in a full-scale manner with highly valued-added solutions.
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