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Aug 20, 2010

Panasonic to Strengthen PDP Production in China

Panasonic will strengthen production of plasma display panels in China, a rapidly growing flat-panel TV market

Osaka, Japan - Panasonic Corporation announced today that the company will move a part of plasma display panel production facilities at its third domestic PDP plant in Amagasaki City, near Osaka, to Panasonic Plasma Display (Shanghai) Co., Ltd. (PPDS) in Shanghai, China, to better respond to robust demand for flat-panel TVs in China.

PPDS, established in January 2001 as a joint venture between Panasonic, then called Matsushita Electric Industrial Co., Ltd., and Shanghai City, commenced operations in December of the same year and has been engaged in production of plasma display panels and assembling TV sets. The company is producing the equivalent of 25,000 42-inch plasma display panels per month at its plant in Pudong New Area. To accommodate the additional production facility and maximize production efficiencies, PPDS plans to relocate to the nearby Pudong Jinqiao Development Zone. The new production facility plans to commence production with a monthly capacity equivalent to approximately 120,000 42-inch panels in April 2012. Panasonic intends to maximize production efficiency by further utilizing the integrated production system from plasma display panels to assembling TV sets.

The flat-panel TV market is expected to continue growing globally, exceeding 240 million sets in 2012. China's flat-panel TV market is likely to surpass 50 million units by that time, becoming the world's largest. The demand for plasma TVs with large-screen and high picture quality is also expected to grow in China driven by digital TV broadcasting and increased consumer interest in Full HD 3D plasma TVs.

The build-up of PPDS will give Panasonic a stronger structure to meet the growing demand in China as well as enable Panasonic to improve the group-wide cost competitiveness, thereby Panasonic continues to push ahead with its growth strategy in the global flat-panel TV market.

Profile of PPDS

Current Site

Name Panasonic Plasma Display (Shanghai) Co., Ltd. (PPDS)
Location No. 1398 Jinsui Road, Jinqiao Export Processing Zone, Pudong New Area, Shanghai, 201206, China
Capital US$165,000,000
Joint Venture Partner SVA Electron Co., Ltd.
Ownership Ratios Panasonic Corporation: 26.0%
Panasonic Corporation of China: 25.0%
SVA Electron Co., Ltd.: 43.0%
Shanghai Industrial Investment (Group) Co., Ltd.: 3.8%
SVA (Group) Co., Ltd.: 2.2%
President Chairman: Qiang Wang (President of Shanghai Yidian Holding (Group) Co., Ltd.)
Managing Director: Daisuke Motomiya
Board of Directors Panasonic: 3 members; China: 3 members
Business Operations Manufacture and sales of plasma display panels, modules and assembly
Construction January 20, 2001
Production Plasma display assembly commenced in December 2001
Employees Approximately 1,700 (as of end of March 2010)
Floor Space Approximately 56,000 square meters (lot area: Approximately 81,000 square meters)

New Site

New Location Jinqiao Development Zone, Pudong, Shanghai
Construction December 2010 (plan)
Production April 2012 (plan)
Employees Approximately 2,000 at the time of operation
Floor Space Approximately 85,000 square meters (lot area: Approximately 100,000 square meters)

About Panasonic

Panasonic Corporation 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 7.42 trillion yen (US$79.4 billion) for the year ended March 31, 2010. 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/.

Media Contacts:

Overseas Public Relations Office
Panasonic Corporation
Tel:03-6403-3040 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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