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

Panasonic Corporation (NYSE: 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.