Haier Group has signed an agreement to take over Sanyo Electric's consumer refrigerator businesses in Japan and Asia as the Chinese company looks to increase sales overseas. 　
　
The two companies will form a 250 million yen (US$2.1 million) venture in which Haier owns 60 percent, and Sanyo holds the balance, Osaka-based Sanyo said yesterday in a statement. The Tokyo-based venture will give Haier the right to use Sanyo's brand, which will help the company raise sales in the Japanese market.