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Panasonic Announces Dissolution of Joint Venture of Motor Business

  Panasonic Announces Dissolution of Joint Venture of Motor Business

Business Wire

OSAKA, Japan -- February 1, 2013

Panasonic Corporation (NYSE:PC)(TOKYO:6752)("Panasonic") today announced that
Minebea Co., Ltd. ("Minebea") and Panasonic reached an agreement today that
Panasonic would promptly transfer all of its shares in their joint venture of
Minebea Motor Manufacturing Corporation to Minebea and dissolve their
alliance.

There shall be no effect on the consolidated financial outlook of Panasonic
for fiscal year ending March 31, 2013.

For further detail, please see the attached.

                                                             Minebea Co., Ltd.
                                                         Panasonic Corporation

                Dissolution of Joint Venture of Motor Business

Minebea Co., Ltd. ("Minebea") and Panasonic Corporation ("Panasonic") today
reached an agreement that Panasonic would promptly transfer all of its shares
(40 percent of the capital) in their joint venture of Minebea Motor
Manufacturing Corporation ("Minebea Motor") to Minebea and dissolve their
alliance.

Minebea Motor had been set up on April 1, 2004, integrating the fan motor,
stepping motor, vibration motor, and DC brush motor business of Minebea and
Panasonic, to develop a globally competitive business by leveraging the
ultra-precision machining technology, mass production technology, and cost
competitiveness of Minebea with the innovative product development strength of
Panasonic. On April 1, 2010, businesses for small brushless motors, power
brushless motors, and polygon mirror scanner motors had been transferred to
Minebea Motor from Panasonic for further business development. However, the
environment of the motor manufacturing business is changing recently, Minebea
and Panasonic reached an agreement to dissolve the joint venture and to seek
further business expansion for Minebea Motor to continue on as a wholly-owned
subsidiary of Minebea, after reconsiderations for businesses.

Minebea, Minebea motor and Panasonic will maintain the further collaborative
relationship through continuous products supply in future.


Minebea Motor Manufacturing Corporation
  Representative:                Hiroyuki Akatsu
    Location:                       4106-73 Oaza Miyota , Kitasaku-gun, Nagano
                                    prefecture
                                    Development, manufacturing, and sales of
    Description of businesses:      small motors for electronic devices and
                                    information equipment
    Date of establishment:          April 1, 2004
    Capital:                        10 Billion JPY
    Ratio of capital:               Minebea 60%, Panasonic 40% (as of
                                    end-January, 2013)
    Sales :                         54.4 Billion JPY (year ended in March,
                                    2012)
    Employees:                      7,493 (as of end-March, 2012)
    Production/Development Bases:   Karuizawa, Hamamatsu, Yonago, Thailand,
                                    Malaysia, China, Cambodia
                                    

■ Media Inquiries:
  Minebea Co. Ltd., Corporate               TEL +81-3-6758-6703
    Communications Office
    Panasonic Corporation, Groupwide Brand Communications Division, Public
    Relations Group
                                               TEL +81-6-6908-0447 (Osaka)
                                               TEL +81-3-3574-5661 (Tokyo)

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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