Panasonic-SANYO Agree to Start Discussions

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Panasonic and SANYO will start discussions, with the aim of maximizing both companies' corporate values by pursuing synergies between both companies

Panasonic Corporation and SANYO Electric Co., Ltd. upon the resolutions of the meetings of their respective Boards of Directors held on November 7, 2008, agreed to start discussions for capital and business alliance between Panasonic and SANYO.
Panasonic and SANYO will start discussions, with the aim of maximizing both companies' corporate values by pursuing synergies between both companies and further strengthening initiatives to achieve potential revenue and profit growth through this alliance.
Purpose:
Panasonic has been challenging under the "Panasonic" brand to generate "ideas for life" for the future. Through innovative thinking, Panasonic is committed to enriching people's lives around the world and thereby contributing to the development of society and future of the world. On the other hand, SANYO has been seeking to become a "Leading provider of Environment- and Energy-related products," which significantly contributes to enhancing the global environment and enriching

people's lives, under its management philosophy stating "We are committed to becoming an indispensable element in the lives of people all over the world." Gathering together the accumulated technologies and manufacturing knowledge of both companies, we believe that we will evolve to a corporate group which will be highly admired globally by enhancing the quality of life for the people worldwide and coexisting in harmony with the global environment. Through this capital and business alliance based on the premise of making SANYO a subsidiary of Panasonic, we aim to share both companies' management know-how and business resources while collaborating with each other, thereby creating a global competitive foundation which will maximize corporate values of both Panasonic and SANYO and bring benefit for both companies' shareholders and all other stakeholders, including customers and employees.
Effect of the Collaboration:
In the Energy Business Domain, both Panasonic and SANYO will be