| 1. |
The company's consolidated financial statements are prepared in conformity with United States generally accepted accounting principles. For press release purposes, however, the presentation of the company's consolidated statement of income partially conforms to common Japanese financial reporting practices, as discussed in notes 2 and 6 below. |
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| 2. |
In order to be consistent with generally accepted financial reporting practices in Japan, operating profit (loss) is presented as net sales less cost of sales and selling, general and administrative expenses. |
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| 3. |
From this fiscal year, the company has applied SFAS No.133, "Accounting for Derivative Instruments and Hedging Activities," and SFAS No.138, "Accounting for Certain Derivative Instruments and Certain Hedging Activities, an amendment of SFAS No.133." |
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| 4. |
Comprehensive income (loss) was reported as a loss of 67.6 billion yen ($512 million) for the fiscal third quarter ended December 31, 2001 and an income of 57.4 billion yen for the fiscal third quarter ended December 31, 2000. Comprehensive income (loss) totaled a loss of 251.6 billion yen ($1.91 billion) for the nine months ended December 31, 2001, compared with an income of 35.6 billion yen a year ago. Comprehensive income (loss) includes net income (loss), increases (decreases) in cumulative translation adjustments, unrealized holding gains (losses) of available-for-sale securities and unrealized gains (losses) of certain derivative instruments. |
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| 5. |
Beginning in this fiscal year, Matsushita discloses sales breakdown information according to the reclassified product categories; AVC Networks, Home Appliances, Industrial Equipment, and Components and Devices. Accordingly, sales breakdown information for the third quarter and nine months of fiscal 2001 are restated to correspond to the new product category reclassifications. |
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| 6. |
Under United States generally accepted accounting principles, restructuring charges are usually included as part of operating profit (loss) in the income statement. Restructuring charges of the consolidated statement of income for the fiscal third quarter ended December 31, 2001 include expenses associated with the implementation of early retirement programs. Restructuring charges for the fiscal three months ended December 31, 2000 include expenses associated with implementation of the regional-based employee remuneration system. |
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| 7. |
Restructuring charges of the consolidated statement of income for the fiscal nine months ended December 31, 2001 include expenses associated with the implementation of early retirement programs. Restructuring charges for the fiscal nine months ended December 31, 2000 include expenses associated with implementation of the regional-based employee remuneration system and expenses associated with the implementation of early retirement programs. |
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| 8. | Number of consolidated companies: 305 |
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| 9. | Number of companies reflected by the equity method: 46 |
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| 10. | United States dollar amounts are translated from yen for convenience at the rate of U.S. $1.00 = 132 yen, the approximate rate on the Tokyo Foreign Exchange Market on December 28, 2001. |
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