On December 18, 2008, according to Japan’s Kyodo News, Matsushita reached an agreement to acquire Sanyo Electric and Sanyo’s major shareholder, the US financial giant Goldman Sachs, to openly purchase the price of Sanyo’s stock (TOB) at 131 yen per share. RMB 10.27 yuan). The overall acquisition amount is expected to exceed 560 billion yen (about 43.68 billion yuan, 6.4 billion US dollars). According to reports, the three financial institutions have about 70% of Sanyo shares in terms of ordinary shares. The two sides reached an agreement that Matsushita will be able to incorporate Sanyo into its subsidiary in the spring of 2009 and become the largest electrical appliance manufacturer in Japan.