China's Haier and Japan's Sanyo signed a memorandum of understanding on Haier's acquisition of a portion of Sanyo's home appliance division, said a senior Haier company official on August 2.

The two parties are expected to ink a formal agreement at the end of September, said Du Jingguo, Vice President of Haier Group.

Haier, China's home appliance giant, intends to acquire Sanyo's refrigerator, washing machine and other electrical appliance businesses in Japan, Indonesia, Malaysia, the Philippines and Viet Nam.

Haier would have two research centers and four manufacturing bases in Japan and Southeast Asia after the acquisition, Du said.