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Jun 26, 2008

Matsushita Shareholders Approve Name Change to "Panasonic Corporation"

Osaka, Japan - Matsushita Electric Industrial Co., Ltd. (Matsushita [NYSE symbol: MC]), best known for its Panasonic brand products, today announced its shareholders approved a proposal to change the company's name to "Panasonic Corporation" at its 101st Annual Shareholders' Meeting that was held today. The change will become effective from October 1, 2008. The name change will also take effect for some of the group companies currently using the names Matsushita or National. The shareholders of each of these companies approved that this move would also become effective from October 1, 2008. In addition, Matsushita announced its ticker symbol change on the New York Stock Exchange from "MC" to "PC" as of October 1, 2008.

The brand changeover from National to Panasonic to be phased-in across Japan commencing October 1, 2008 has started earlier than the original plan, expected to complete within fiscal year 2010 ending March 2010. Currently, the National brand is used for home appliances and housing equipments in Japan.

When it was first established in 1918 the company was known as Matsushita Electric Housewares Manufacturing Works, which was changed to Matsushita Electric Manufacturing Works in 1929. The company has been using the name Matsushita Electric Industrial Co., Ltd. since its incorporation as a joint stock corporation in 1935. While the company used the National and Panasonic brand names over a long period, it decided in 2003 to unify its global brand to Panasonic with the brand slogan "Panasonic ideas for life."

With this company name change and brand unification, the Panasonic Corporation will celebrate its 90th anniversary this year. The company will bring the achievements accumulated through the three different names of Matsushita, National, and Panasonic, under the one single umbrella name of Panasonic.

The new Panasonic Corporation has renewed its group-wide commitment to putting the company's management philosophies into practice throughout the world -- to enhance its brand value and strive to become a globally excellent company.

About Panasonic

Best known for its Panasonic brand name, Matsushita Electric Industrial Co., Ltd. is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated net sales of 9.07 trillion yen (approx. US$90.52 billion) for the year ended March 31, 2008. The company's shares are listed on the Tokyo, Osaka, Nagoya and New York (NYSE:MC) stock exchanges. For more information on the company and the Panasonic brand, visit the company's website at http://panasonic.net/.

A list of the new company names follows.

<New company names of group companies>

Upon the company name change of Matsushita Electric Industrial Co., Ltd., some group companies will change their names effective October 1, 2008.

• Changes in the names of major group companies

<Current>
Matsushita Electric Industrial Co., Ltd.
 
Semiconductor Company
Panasonic AVC Networks Company
Panasonic Automotive Systems Company
Panasonic System Solutions Company
Matsushita Home Appliances Company
Lighting Company
Motor Company
<New>
Panasonic Corporation
 
Semiconductor Company
AVC Networks Company
Automotive Systems Company
System Solutions Company
Home Appliances Company
Lighting Company
Motor Company
Panasonic Communications Co., Ltd.
Panasonic Mobile Communications Co., Ltd.
Matsushita Battery Industrial Co., Ltd.
Panasonic Electronic Devices Co., Ltd.
Matsushita Ecology Systems Co., Ltd.
Panasonic Factory Solutions Co., Ltd.
Matsushita Welding Systems Co., Ltd.
Panasonic Shikoku Electronics Co., Ltd.
Panasonic Communications Co., Ltd. (No change)
Panasonic Mobile Communications Co., Ltd. (No change)
Panasonic Energy Co., Ltd.  
Panasonic Electronic Devices Co., Ltd. (No change)
Panasonic Ecology Systems Co., Ltd.  
Panasonic Factory Solutions Co., Ltd. (No change)
Panasonic Welding Systems Co., Ltd.  
Panasonic Shikoku Electronics Co., Ltd. (No change)
Matsushita Electric Works, Ltd.
PanaHome Corporation
 
Panasonic Electric Works Co., Ltd.  
PanaHome Corporation (No change)

Media Contacts:

Akira Kadota, International PR
Tel: 03-3578-1237 Fax: 03-3436-6766
Panasonic News Bureau
Tel: 03-3542-6205 Fax: 03-3542-9018
*The content in the following news releases is accurate at the time of publication but may be subject to change without notice. Please note therefore that these documents may not always contain the most up-to-date information.

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