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Matsushita to Delist Shares from Two Stock Exchanges
Osaka, Japan, March 27, 2006 -- Matsushita Electric Industrial Co., Ltd. [NYSE symbol: MC], best known for its Panasonic brand, today announced that its Board of Directors resolved to submit applications to two stock exchanges for delisting of the company’s shares. Details of the delisting are as follows:
1. Stock exchanges to which Matsushita will submit applications for delisting
Matsushita will submit applications to delist from the following stock exchanges:
Frankfurt (Germany) stock exchange
Euronext Amsterdam (Netherlands) stock exchange
Stock exchanges on which Matsushita will continue to list its shares are as follows:
|In Japan:||Tokyo, Osaka and Nagoya stock exchanges|
|Overseas:||New York Stock Exchange|
2. Reasons for delisting of the company’s shares
Matsushita noted that the trading volume of its shares on the above-mentioned two stock exchanges is extremely low, whereby continuation of such listing is no longer economically efficient.
Applications for delisting of the company’s shares will be submitted to the relevant stock exchanges in April 2006. The company expects to complete the delisting procedures in September 2006.