Panasonic to Absorb Wholly-Owned Subsidiaries Panasonic Electronic Devices and Panasonic Electronic Devices Japan

Panasonic Corporation PC earlier today announced that its Board of Directors has decided and signed an agreement to absorb Panasonic Electronic Devices Co., Ltd. (PED), a wholly-owned consolidated subsidiary of Panasonic, and Panasonic Electronic Devices Japan Co., Ltd. , a wholly-owned subsidiary of PED, respectively. Each merger is expected to take effect on April 1, 2012.