Panasonic has completed its purchase of a 50.2% majority stake in Japanese electronics rival Sanyo.

The conclusion of the 403.8bn yen ($4.6bn; £2.8bn) deal comes 13 months since Panasonic first announced its interest in the deal.

Analysts said Panasonic was most interested in Sanyo’s manufacture of hybrid car batteries, a field in which both firms are strong.

Shares in Sanyo closed up 11% before Thursday’s announcement.