Panasonic Announces Dissolution of Joint Venture of Motor Business<6752.T>

Fri Feb 1, 2013 1:30am EST

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OSAKA, Japan--(Business Wire)--
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                                                   
     Description of businesses:       Development, manufacturing, and sales of 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 Communications Office                                 TEL +81-3-6758-6703            
     Panasonic Corporation, Groupwide Brand Communications Division, Public Relations Group                           
                                                                                       TEL +81-6-6908-0447 (Osaka)    
                                                                                       TEL +81-3-3574-5661 (Tokyo)    


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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