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About Panasonic

Financial Announcements



Matsushita Electric Industrial Co., Ltd.
Consolidated Statement of Income *
(Three months ended September 30)
                                              Yen                    U.S. Dollars
                                           (millions)      Percentage (millions)
                                        2001         2000   2001/2000     2001

Net sales                          ¥1,710,825   ¥1,964,666     87%    $ 14,377
Cost of sales                      (1,290,931)  (1,375,380)            (10,848) 
Selling, general and                                                        
  administrative expenses            (456,915)    (510,859)             (3,840)
Operating profit (loss)               (37,021)      78,427     --         (311)
                                                        
Other income (deductions):                                                        
Interest income                         8,831       10,727                  74     
Dividend income                           858        3,592                   7
Interest expense                       (9,868)     (11,295)                (83)
Restructuring charges **               (8,356)      (3,780)                (70)
Write-down of investment securities   (18,608)      (1,581)               (156)
Other income (loss), net               (1,897)         431                 (16)
Income (loss) before                                                        
  income taxes                        (66,061)      76,521     --         (555)

Provision for income taxes             (1,359)     (32,028)                (12)
Minority interests                     16,522       (7,337)                139
Equity in earnings of                                                        
  associated companies                    798        4,817                   7
                                                        
Net income (loss)                  ¥  (50,100)  ¥   41,973     --     $   (421)
                                                        
Net income (loss)                                                        
  per common share, basic           (24.10) yen   20.19 yen           $  (0.20)
Net income (loss)                                                        
  per common share, diluted         (24.10) yen   19.25 yen           $  (0.20)
                                                        
(Parentheses indicate expenses or deductions.) 

                                                        
* ** See notes to consolidated financial statements.


Supplementary Information
(Three months ended September 30)
                                              Yen                    U.S. Dollars
                                           (millions)                 (millions)
                                        2001         2000                2001

Depreciation (tangible assets):    ¥   80,834   ¥   84,539            $    679
Capital investment:                ¥   85,648   ¥  145,297            $    720
R&D expenditures:                  ¥  148,392   ¥  139,919            $  1,247

Number of employees (Sept. 30)        292,765      300,410

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