SANYO Electric Co., Ltd. is a major electronics company and member of the Fortune 500 whose headquarters is located in Moriguchi, Osaka prefecture, Japan. Sanyo targets the middle of the market and has over 230 subsidiaries and affiliates. On December 21, 2009, Panasonic completed a 400 billion yen ($4.5 billion) acquisition of a 50.2% stake in Sanyo, making Sanyo a subsidiary of Panasonic. In July 2010, Panasonic announced that they would acquire the remaining shares of Sanyo. Sanyo Electric is also responsible for the construction of the Solar Ark.