Panasonic Announces Appeal Against European Commission Decision on Cathode Ray Tubes for Televisions

  Panasonic Announces Appeal Against European Commission Decision on Cathode
  Ray Tubes for Televisions

Business Wire

OSAKA, Japan -- December 21, 2012

Panasonic Corporation (NYSE:PC)(TOKYO:6752)("Panasonic") announced today that
Panasonic and its subsidiary MT Picture Display Co., Ltd. ("MTPD") have
decided to appeal to the European General Court against the decision* adopted
by the European Commission on December 5, 2012, because Panasonic believes
this decision is factually and legally erroneous as it applies to Panasonic
and MTPD.

Panasonic and MTPD have already exited the CRT business, but will be stating
their arguments at court and seeking fair judgment.

* 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 relevant to Panasonic and MTPD 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:
€86,738,000

About Panasonic
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/

Contact:

Panasonic Corporation
Media Contacts:
Megumi Kitagawa, +81-3-3574-5664 (Japan)
Global Public Relations Office
or
Panasonic News Bureau (Japan)
Tel: +81-3-3542-6205
or
Jim Reilly, +1-201-392-6067 (U.S.)
or
Anne Guennewig, +49-611-235-457 (Europe)
or
Investor Relations Contacts:
Shozo Mizuno, +81-6-6908-1121 (Japan)
Corporate Finance & IR Group
or
Panasonic Finance (America), Inc.
Yuko Iwatsu, +1-212-698-1360 (U.S.)
or
Panasonic Finance (Europe) plc
Hiroko Carvell, +44-20-3008-6887 (Europe)
 
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