Panasonic Corp to sell its semiconductor business to Nuvoton Technology

Japan’s Panasonic Corp will sell its loss-making semiconductor business to Taiwan’s Nuvoton Technology, a Nikkei Asian Review reported.

Panasonic will also divest three Japanese chipmaking facilities of TowerJazz Panasonic Semiconductor, a joint venture with Israel’s Tower Semiconductor, according to the report.

The ongoing U.S.-China tariff war has impacted chipmakers already grappling with oversupply.

Panasonic did not immediately respond to a Reuters request for comment.