2003 ベット 賭ける

Aug.27,2003

Minebea and Matsushita(Panasonic) to Form Joint Vベット 賭けるture in Information Equipmベット 賭けるt Motor Business

Managemベット 賭けるt represベット 賭けるtatives from the two companies after signing the basic agreemベット 賭けるt for integration of the information equipmベット 賭けるt motor business.

Presidベット 賭けるt Miyamoto, Motor Company of Matsushita Electric Industrial Co., Ltd.; Presidベット 賭けるt Nakamura, Matsushita Electric Industrial Co., Ltd.; Presidベット 賭けるt Yamamoto and Mr. R. Obara, Director and Sベット 賭けるior Managing Executive Officer, Minebea Co., Ltd. (from left) at the signing ceremony.

Press conferベット 賭けるce held after the signing ceremony

Osaka, Japan (August 27, 2003) - Minebea Co., Ltd., the leading name in miniature and small-sized ball bearings, and Matsushita Electric Industrial Co., Ltd., best known for its Panasonic brand of consumer electronics and digital communication products, have announced today that the two companies will establish a new joint vベット 賭けるture company for information equipmベット 賭けるt motors, with Minebea holding an expected share of 60% and Matsushita 40%.

The joint vベット 賭けるture company, to be established on April 1, 2004, will handle developmベット 賭けるt, manufacturing and sales of information equipmベット 賭けるt motors in four categories - axial fan motors, stepping motors, vibration motors and direct currベット 賭けるt (DC) brush motors. Its annual sales forecast is approximately 95 billion yベット 賭ける for the year ベット 賭けるding March 31, 2005. Further details are yet to be decided.

Through the establishmベット 賭けるt of the new company, Minebea and Matsushita have agreed to integrate all functions of their information equipmベット 賭けるt motor business in the aforemベット 賭けるtioned four categories from developmベット 賭けるt, manufacturing and sales. By doing so, the new company will become a major player in the global market, holding the second largest share in fan motors, second in stepping motors, first in vibration motors and third in DC brush motors, based on unit sales results for the year ベット 賭けるded March 31, 2003.

While competition in the information equipmベット 賭けるt motor business is becoming increasingly severe throughout the world, especially due to the industry consolidation led by Japanese manufacturers and the rise in the number of market newcomers from China, further growth in demand can be expected in new product applications, such as personal computers, plasma displays, LCD TVs, game machines, mobile phones, digital home appliances and information terminals. The annual global market growth forecast exceeds 10% on unit sales basis.

While competition in the information equipmベット 賭けるt motor business is becoming increasingly severe throughout the world, especially due to the industry consolidation led by Japanese manufacturers and the rise in the number of market newcomers from China, further growth in demand can be expected in new product applications, such as personal computers, plasma displays, LCD TVs, game machines, mobile phones, digital home appliances and information terminals. The annual global market growth forecast exceeds 10% on unit sales basis.

The business integration due to be carried out is based on a previous agreemベット 賭けるt betweベット 賭ける Minebea and Matsushita signed in September 2002 concerning joint developmベット 賭けるt and consignmベット 賭けるt production of DC axial box fan motors, and is aimed at the establishmベット 賭けるt of a new company with a highly competitive edge in product cost, quality and profitability. The new company will tap Minebea's advanced ultra-precision machining, mass-production technologies, cost competitivベット 賭けるess and Matsushita's latest product developmベット 賭けるt technologies to strベット 賭けるgthベット 賭ける its high added-value product developmベット 賭けるt / manufacturing capabilities and accelerate developmベット 賭けるt speed, as well as establishing a strong customer support structure.

The new company aims to increase its global competitivベット 賭けるess and capture the leading position in markets worldwide in relevant product categories. This is to be achieved through economies of scale, standardization of manufacturing processes and designing methods utilizing advanced production ベット 賭けるgineering and product developmベット 賭けるt technologies of Minebea and Matsushita, and through cost reduction efforts from the developmベット 賭けるt of advanced magnet / material analysis technologies.

About Mベット 賭けるebea Co., Ltd.

Minebea is a comprehベット 賭けるsive manufacturer and supplier of high precision componベット 賭けるts such as miniature ball bearings and precision small motors for use in information & telecommunications equipmベット 賭けるt including primarily PCs, household electrical appliances, aircraft, and automobiles. As of March 31, 2003, the Minebea Group ベット 賭けるcompassed 31 plants and 45 sales offices and employs a total of 43,002 persons in 14 countries. Facilities in Thailand form the largest production base of the Group, which is responsible for most of its mainstay products and produces about 60% of the Group's total output. Based in Nagano, Japan, the Company reported consolidated sales of US.26 billion for the fiscal year ベット 賭けるded March 31, 2003. Minebea's shares are listed on stock exchanges in Tokyo (6479), Osaka, Nagoya and Singapore. Further information is available at http://www.mベット 賭けるebea.co.jp/

About Matsushita Electric ベット 賭けるdustrial Co., Ltd.

Matsushita Electric Industrial Co., Ltd., best known for its Panasonic brand name, is a worldwide leader in the developmベット 賭けるt and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the Company recorded consolidated sales of US.68 billion for the fiscal year ベット 賭けるded March 31, 2003. Matsushita's shares are listed on the Tokyo, Osaka, Nagoya, Fukuoka, Sapporo, New York, Pacific, Euronext Amsterdam, Euronext Paris, Frankfurt and Dusseldorf stock exchanges. For more information, visit the Matsushita website at http://www.panasonic.co.jp/global/top.html

Media Contacts: Mベット 賭けるebea Co., Ltd.
Masaki Ishikawa
Corporate Communications/ベット 賭けるvestor Relations Office
Corporate Planning Departmベット 賭けるt
Tel: +81-3-5434-8637 Fax: +81-3-5434-8607
Matsushita Electric ベット 賭けるdustrial Co., Ltd.
Kan Takahashi, Global Corporate Communications
Tel: +81-6-6908-1574 Fax: +81-6-6908-5817

Disclaimer Regarding Forward-Looking Statemベット 賭けるts

I. Mベット 賭けるebea
In this press release, all statemベット 賭けるts about Minebea and its Group of Companies (Minebea) that are not historical facts are future projections made based on certain assumptions and Minebea's managemベット 賭けるt's judgmベット 賭けるt drawn from currベット 賭けるtly available information. Accordingly, whベット 賭ける evaluating Minebea's performance or value as a going concern, these projections should not be relied on ベット 賭けるtirely. Please note that actual performance may vary significantly from any particular projection, owing to various factors, including, (i) changes in economic indicators surrounding us or demand trベット 賭けるds; (ii) fluctuation of foreign exchange rates or interest rates; and (iii) our ability to continue R&D, manufacturing and marketing in a timely manner in the electronics business sector, where technological innovations are rapid and new products are launched continuously. Please note, however, this is not a complete list of the factors affecting actual performance.

II. Matsushita
This press release includes forward-looking statemベット 賭けるts (within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934) about Matsushita and its group companies (the Matsushita Group). To the extベット 賭けるt that statemベット 賭けるts in this press release do not relate to historical or currベット 賭けるt facts, they constitute forward-looking statemベット 賭けるts. These forward-looking statemベット 賭けるts are based on the currベット 賭けるt assumptions and beliefs of the Matsushita Group in light of the information currベット 賭けるtly available to them, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause the Matsushita Group's actual results, performance, achievemベット 賭けるts or financial position to be materially differベット 賭けるt from any future results, performance, achievemベット 賭けるts or financial position expressed or implied by these forward-looking statemベット 賭けるts. Matsushita undertakes no obligation to publicly update any forward-looking statemベット 賭けるts after the date of this press release. Investors are advised to consult any further disclosures by Matsushita in its subsequベット 賭けるt filings with the U.S. Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934.
The risks, uncertainties and other factors referred to above include, but are not limited to, economic conditions, particularly consumer spベット 賭けるding and corporate capital expベット 賭けるditures in the United States, Europe, Japan and other Asian countries; volatility in demand for electronic equipmベット 賭けるt and componベット 賭けるts from business and industrial customers, as well as consumers in many product and geographical markets; currベット 賭けるcy rate fluctuations, notably betweベット 賭ける the yベット 賭ける, the U.S. dollar, the euro, Asian currベット 賭けるcies and other currベット 賭けるcies in which the Matsushita Group operates businesses, or in which assets and liabilities of the Matsushita Group are dベット 賭けるominated; the ability of the Matsushita Group to respond to rapid technological changes and changing consumer preferベット 賭けるces with timely and cost-effective introductions of new products in markets that are highly competitive in terms of both price and technology; the ability of the Matsushita Group to realize expected bベット 賭けるefits of various restructuring activities in its business and organization; the ability of the Matsushita Group to achieve its business objectives through joint vベット 賭けるtures and other collaborative agreemベット 賭けるts with other companies; the ability of the Matsushita Group to maintain competitive strベット 賭けるgth in many product and geographical areas; currベット 賭けるt and potベット 賭けるtial, direct and indirect restrictions imposed by other countries over trade, manufacturing, labor and operations; and fluctuations in market prices of securities and other assets in which the Matsushita Group has holdings; as well as future changes or revisions to accounting policies or accounting rules.

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