Relevant Press Releases

5. Acceleration of Matsushita's global strategy (Slide-5)

• Matsushita aims to achieve annual double-digit growth in overseas sales, providing a growth engine for the company. Matsushita will also promote consolidation, as well as internal/external collaboration by empowering its overseas companies in terms of R&D, manufacturing and sales. Through such initiatives, Matsushita will further encourage and strengthen autonomous management at local levels.
• Matsushita places particular emphasis on expanding its operations in China, which is quickly becoming known as "the world's largest manufacturer" and "the largest market in the world."
  Examples of manufacturing initiatives in China include the full-scale production of DVD products at China Hualu Matsushita AVC Co., the transfer of compressor production from Matsushita's U.S. factory to Matsushita Wanbao Compressor Co., and production of plasma TVs, which began at Shanghai Matsushita Plasma Display Co. in December 2001. Production of plasma display panels is scheduled to begin in Shanghai in October 2002.
• As part of its business reforms of overseas divisions, Matsushita aims to establish a more direct link between product divisions and respective markets, simplify intra-company transactions and reduce inventory and logistics costs on a global basis.

6. Enhancement of brand value
Matsushita will enhance both brand value and corporate value by improving the quality of products and services, as well as promoting customer satisfaction at the individual employee level, thereby enhancing total management quality.

7. Establishment of Panasonic Center
In September 2002, Matsushita will open its new marketing and communications facility, located at Ariake, the new Tokyo waterfront subcenter. Panasonic Center will be based on the "digital networking society" and "coexistence with the environment" themes.
(see separate press release, dated January 10, 2002, for details)

8. Annual Management Slogan

Matsushita aims to become a company that can realize dreams by going forward with the "Value Creation 21" plan. Each employee of Matsushita will work tirelessly toward growth and creation to enhance corporate value.