Panasonic is reportedly to sell three of its main semiconductor fabs in Toyama and Niigata prefectures in Japan to TowerJazz, the Japan subsidiary of the Isareli foundry Tower Semiconductor Ltd., and five overseas chip assembly plants to a Singaporean company, according to Nikkei on November 28. The three chip plans are estimated to worth around 10 billion yen (US$97 million; US$1=102.49 yen), and the deal will be concluded as early as before March 2014. Panasonic will concentrate on house appliance and automotive businesses, including navigation systems, millimeter-wave radar technology, and tablets for vehicle design, aiming to create 4 trillion yen in annual revenues from both businesses by 2018.