| Sanyo Executive Director and Chairman Tomoyo Nonaka is here and is believed to have met top Reliance Retail officials to discuss the tie-up. |
| "Sanyo is looking at an agreement with Reliance Retail for selling its airconditioning products and other consumer electronic goods," sources familiar with the development told PTI today. |
| Reliance Industries, which formally forayed into the retail space early this month through neighbourhood grocery and vegetable stores, is shortly expected to open multi-brand outlets and large format stores. |
| RIL's retail business envisages an investment of Rs 25,000 crore over the next five years. |
| Consumer goods manufacturers in developed countries, especially Japan, have been closely monitoring Reliance's retail business, as they see it as an opportunity to boost sales in the Indian market, which is currently dominated by South Korean electronics majors such as LG and Samsung. |
| However, Sanyo India Pvt Ltd Head (Corporate Planning) Mohana Bharat denied that such an agreement was in the offing."I don't know about other Japanese companies. But, Sanyo is not looking for any exclusive tie-ups," he said. |
| A Reliance Industries spokesperson refused to comment. Sources, however, said Nonaka was also scheduled to meet Reliance Industries Chairman Mukesh Ambani, but did not specify when. |
| The USD 24 billion Japanese consumer firm has two subsidiaries in India "" Sanyo India Pvt Ltd and Sanyo BPL Pvt Ltd, but its market share is negligible compared to other Japanese players such as Sony and Panasonic. |
| Nonaka was here to launch the company's ready-to-use rechargeable batteries 'Eneloop' in India. |
| "The opportunity that India presents excites us. My visit to India is to renew Sanyo's commitment to India and infuse new energy into our India operations," she said, but did not elaborate. |
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