Panasonic Announces European Commission Decision onCathode Ray Tubes for
OSAKA, Japan -- December 06, 2012
Panasonic Corporation (NYSE:PC)(TOKYO:6752)("Panasonic") announced today that
the Company and its subsidiary MT Picture Display Co., Ltd. ("MTPD") has been
informed that the European Commission has issued a decision finding that a
number of companies, including Panasonic and MTPD, previously participated in
an agreement to restrict competition in the sale of Cathode Ray Tubes for
televisions sold in Europe in violation of EU competition law.
The fines imposed by European Commission are as follows:
- Panasonic: €157,478,000
- Panasonic and MTPD, jointly and severally liable: €7,885,000
- Panasonic, MTPD and Toshiba Corporation, jointly and severally liable:
Panasonic and MTPD have already exited the CRT business. Panasonic believes
this decision is factually and legally erroneous as it applies to Panasonic
and MTPD and will consider its options for appeal to the European courts.
Panasonic Corporation is a worldwide leader in the development and manufacture
of electronic products for three business fields, consumer, components &
devices, and solutions. Based in Osaka, Japan, the company recorded
consolidated net sales of 7.85 trillion yen for the year ended March 31, 2012.
It aims to become the No. 1 Green Innovation Company in the Electronics
Industry by the 100th year of its founding in 2018.The company's shares are
listed on the Tokyo, Osaka, Nagoya and New York (NYSE:PC) stock exchanges. For
more information on the company and the Panasonic brand, visit the company's
website at http://panasonic.net/
Megumi Kitagawa, +81-3-3574-5664 (Japan)
Global Public Relations Office
Panasonic News Bureau (Japan)
Jim Reilly, +1-201-392-6067 (U.S.)
Anne Guennewig, +49-611-235-457 (Europe)
Investor Relations Contacts:
Shozo Mizuno, +81-6-6908-1121 (Japan)
Corporate Finance & IR Group
Panasonic Finance (America), Inc.
Yuko Iwatsu, +1-212-698-1360 (U.S.)
Panasonic Finance (Europe) plc
Hiroko Carvell, +44-20-3008-6887 (Europe)
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