Japan, March 31 -- Electric Works Company (the Company), a division of Panasonic Corporation, announces that it entered into a share transfer agreement on March 24 to transfer its power tools business (the Business) to a successor company newly established by the Company, and subsequently to transfer all shares of that company to Makita Corporation (Makita). Having completed the necessary preparations, the Company is announcing this today.The transaction will be executed through a company split whereby the Business will be transferred to the successor company, followed by the transfer of all issued shares of the successor company to the acquirer. Assets, contracts, employees and other resources necessary for business operations will be tran...