Panasonic Holdings Corp. announced on Wednesday its intention to spin off its supply chain management (SCM) business through an initial public offering.
The new company, should the IPO be consummated, will be centered around Blue Yonder, the U.S-based software-as-a-service company that Osaka, Japan-based Panasonic purchased last year for more than $7 billion. In a statement, Panasonic said it has not made a final decision as to a listing and on which exchange the IPO should go forward.
Panasonic reworked its business into a holding company earlier this spring.
“With the introduction of the operating company system, the Panasonic Group aims to strengthen its competitiveness by enabling each operating company to act more independently and to thoroughly implement autonomous management,” the company said in the statement. “Following, it was decided that based on the business characteristics and market environment, a stock exchange listing of the SCM business would be the optimal way to accelerate growth globally by utilizing the capital markets.”
Blue Yonder’s AI-driven technology would be the centerpiece of an SCM business, but Panasonic said it would also leverage its Panasonic Connect businesses including Gemba Solutions Co. and the technology research and development division, among others. The ultimate goal would be to “drive the companies’ vision to deliver the autonomous supply chain to the edge.”