Haier Group Corporation (“Haier”) and SANYO Electric Co., Ltd. (“SANYO Electric”) today signed a Memorandum of Understanding (MoU) setting out the terms regarding Haier’s intention to acquire SANYO’s refrigerator, washing machine and other consumer electric appliances business in Japan, Indonesia, Malaysia, the Philippines and Vietnam. The acquisition will cover the research and development (R&D) and manufacturing facilities of SANYO Electric’s refrigerator and washing machine business, as well as the sales and service business of SANYO Electric consumer electric appliances in the above countries, including the washing machine brand “AQUA” and other “AQUA” related brands.