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Tsuga did not say how much of the unit he planned to sell.
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TRANSFORMER Under President Kazuhiro Tsuga, Panasonic has been shifting away from consumer-oriented sectors and embracing business clients instead.
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Panasonic President Kazuhiro Tsuga has promised to shut or sell businesses operating at below a 5 percent margin.
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Though Musk's comments are unpredictable, Panasonic will continue to monitor Tesla's operations and closely cooperate with the company, Tsuga said.
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The move is in line with the strategy adopted by company President Tsuga since he took charge in June 2012.
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Restructuring costs may increase from the planned ¥41 billion announced in May, company president Kazuhiro Tsuga told reporters in Tokyo yesterday.
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Tsuga last month also announced the sale of a majority stake in a logistics subsidiary to Nippon Express Co, Japan's largest transportation company.
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Tsuga has warned that he would weed out any division that fails to meet a 5 percent operating margin goal within three years.
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Tsuga last month also announced the sale of a majority stake in a logistics subsidiary to Nippon Express Co 9062.T, Japan's largest transportation company.
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At Tsuga's company, TVs, DVD players and other home entertainment gadgets represent less than one-fifth of sales, leaving it more options to pursue profits elsewhere.
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Chief Executive Kazuhiro Tsuga also told reporters that he did not think the yen's current exchange was "bad", as long as it remained stable.