Daiwa Securities Group Inc.

Panasonic Corp.'s plans to take over rival Sanyo Electric Co. would create the world's second-largest electronics maker. But Panasonic already has plenty of gadgets. Instead, the crown jewels Panasonic wants from Sanyo are green.

Panasonic and Sanyo are discussing a buyout. The Japanese consumer-electronics rivals started talks Friday that could create one of the biggest electronics companies in the world before the end of the year.

Sanyo's top shareholders include Goldman Sachs, Daiwa Securities, and Sumitomo Mitsui Banking. The three banks would double their 2006 investment if Panasonic pays the $6.2 billion analysts estimate Sanyo is worth. The acquisition would be the largest ever in the Japanese consumer-electronics industry.