(PC) Panasonic Corporation Releases Thier New Management Policy for 2011

Panasonic Corp. (PC) released its new management policy for fiscal 2011, ending March 31, 2011. Under the new policy, the company will integrate SANYO Electric Co., Ltd. into the new Panasonic Group. Panasonic will benefit from SANYO’s acquisition as the latter is a key player in the solar cells and rechargeable batteries markets and has strong businesses in industrial equipment and devices. The acquisition will leverage Panasonic’s group synergies. Panasonic will expand its solar cell business in combination with SANYO’s solar technology, expertise in building products/electrical construction materials and worldwide sales channels. Panasonic will invest approximately 100 billion yen from fiscal 2011 to 2016 to increase production of SANYO’s “HIT” solar cells. This should enable Panasonic to acquire a leading market position in Japan in fiscal 2013 and become one