Panasonic Announces Delisting Schedule from New York Stock Exchange

  Panasonic Announces Delisting Schedule from New York Stock Exchange

Business Wire

OSAKA, Japan -- April 1, 2013

Panasonic Corporation(NYSE:PC) (TOKYO:6752) ("Panasonic"), today announced
the delisting schedule from the New York Stock Exchange ("NYSE") and notified
to the NYSE on April 1, 2013 (Eastern Time in the U.S.) that it will apply for
voluntary delisting of its American Depositary Shares ("ADSs"), in connection
with its announcement on March 28, 2013 relating to its intention of delisting
from the NYSE.

1. Reason for Delisting

Panasonic listed its ADSs on the NYSE in December 1971 mainly to promote
trading of its shares and to raise the visibility of the Panasonic brand in
the U.S. Since then, Panasonic has made efforts to enhance disclosures for
shareholders and investors with the goal of deepening their understanding of
Panasonic, in addition to complying with the disclosure requirements of U.S.
securities laws and regulations, providing financial statements in accordance
with U.S. generally accepted accounting principles ("U.S. GAAP"), and
establishing internal controls in accordance with the Sarbanes-Oxley Act of
2002. Meanwhile, the external environment has significantly changed as
indicated by the increases in trading volume of Japanese stocks through stock
exchanges in Japan by overseas investors due to the internationalization of
the Japanese financial and capital markets, as well as the narrowing of the
gap between U.S. and Japanese disclosure standards with respect to financial
reporting due to a series of amendments to Japanese laws and regulations and
accounting standards.

While Panasonic believes the initial objectives of the U.S. ADS listing were
mainly achieved, it judges that the continued listing on the NYSE is not
economically justified, taking into account the fact that the trading volume
of Panasonic's ADSs on the NYSE accounts for only a small fraction of the
total trading volume of Panasonic's shares. Therefore, Panasonic has decided
to apply for voluntary delisting of its ADSs from the NYSE and for termination
of registration of its ADSs with SEC under the Exchange Act.

2. Listed Stock Exchange

Tokyo Stock Exchange, Osaka Securities Exchange, Nagoya Stock Exchange


3. Delisting schedule (Eastern Time in the U.S.)
                     
April 1, 2013               Panasonic to provide NYSE with a written
                            pre-notice of the delisting application
April 11, 2013              Panasonic to file Form 25 with the SEC for NYSE
                            delisting and SEC deregistration
April 22, 2013              Delisting to become effective
                            Panasonic to file Form 15F with the SEC to
                            terminate Panasonic's reporting obligations under
                            the Exchange Act
July 2013                   Deregistration with SEC to become effective
                            Termination of Panasonic's reporting obligations
                            under the Exchange Act to become effective

The schedule provided above including the anticipated effective dates may be
delayed if the SEC objects or requests an extended review or for other
reasons.


4. Future Plans

While Panasonic's reporting obligations under the Exchange Act (including the
obligation to file annual reports on Form 20-F) will be terminated, Panasonic
will continue to prepare English consolidated financial statements in
accordance with U.S. GAAP and disclose them on Panasonic's website, in
addition to English translations of disclosure documents pursuant to Japanese
law and relevant information such as news releases, in order to facilitate
comparisons with past disclosure. Continuous efforts will be made to maintain
and enhance governance and disclosure for shareholders and investors.

After delisting its ADSs from the NYSE, Panasonic intends to maintain its
American Depositary Receipt Program in the U.S., and therefore anticipates
that its ADSs will continue to be traded in the U.S. on the over-the-counter
market.


5. Contact Information for inquiries regarding Panasonic's ADSs

  JPMorgan Service Center (U.S.)
   Tel: U.S.: 1-800-990-1135 (toll free)
    International: +1-651-453-2128
    Website: www.adr.com
    E-mail: jpmorgan.adr@wellsfargo.com
    (Shareholder Service Representatives are available Monday through Friday,
    from 7:00 a.m. to 7:00 p.m. Eastern Time in the U.S.)

Contact:

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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