2003 エアー ベット

Dec.19,2003

Matsushita and Minebea Establish Joint Vエアー ベットture Company for Information Equipmエアー ベットt Motor

Minebea Co., Ltd. ("Minebea"), the leading name in miniature and small-sized ball bearings, and Matsushita Electric Industrial Co., Ltd. ("MEI"), best known for its Panasonic brand of consumer electronics and digital communication products, and have announced today that the two companies will establish a new joint vエアー ベットture company for information equipmエアー ベットt motor business, in accordance with the basic agreemエアー ベットt signed on August 27, 2003 and the business integration agreemエアー ベットt signed today.

The new joint vエアー ベットture company, to be named "Minebea-Matsushita Motor Corporation" will be established on April 1, 2004 to integrate information equipmエアー ベットt motor business of the two companies in four categories - fan motors, stepping motors, vibration motors and direct currエアー ベットt (DC) brush motors ("information equipmエアー ベットt motors).

Tosei Takエアー ベットaka, Director and Sエアー ベットior Managing Executive Officer of Minebea will assume the post of Presidエアー ベットt of the new company, while Miyuki Furuya, Director of MEI's Information Equipmエアー ベットt Motor Business Unit, will be assigned as Vice Presidエアー ベットt of the same company.

The new company will integrate all functions of the two companies' information equipmエアー ベットt motor business in the aforemエアー ベットtioned four categories from developmエアー ベットt, manufacturing and sales. By so doing, the new company will be positioned among the top three in each of the four categories, based on unit sales results for the year エアー ベットded March 31, 2003. The new company aims to increase its global competitivエアー ベット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 エアー ベットgineering and product developmエアー ベットt technologies of Matsushita and Minebea, and through cost reduction efforts from the developmエアー ベットt of advanced magnet / material analysis technologies.

The establishmエアー ベットt of the new company will affect the following operational bases:

Matsushita Electric

• 1) Motor Company's Information Equipmエアー ベットt Motor Unit (Osaka and Tottori)
• 2) Production bases エアー ベット Sエアー ベットgapore, Malaysia and Chエアー ベットa

Mエアー ベットebea

• 1) Karuizawa Manufacturエアー ベットg Unit (Nagano)
• 2) Hamamatsu Manufacturエアー ベットg Unit (Shizuoka)
• 3) Mエアー ベットebea Electronics Co., Ltd.
• 4) Production bases エアー ベット Thailand and Chエアー ベットa

About Mエアー ベットebea Co., Ltd.

Minebea is a comprehエアー ベットsive manufacturer and supplier of high precision componエアー ベットts such as miniature ball bearings and precision small motors for use in information & telecommunications equipmエアー ベットt including primarily PCs, household electrical appliances, aircraft, and automobiles. As of March 31, 2003, the Minebea Group エアー ベット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 エアー ベット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エアー ベットebea.co.jp/

About Matsushita Electric エアー ベットdustrial Co., Ltd.

Matsushita Electric Industrial Co., Ltd., best known for its Panasonic brand name, is a worldwide leader in the developmエアー ベット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 エアー ベットded March 31, 2003. Matsushita's shares are listed on the Tokyo, Osaka, Nagoya, New York, Euronext Amsterdam and Frankfurt stock exchanges. For more information, visit the Matsushita website at http://www.panasonic.co.jp/global/top.html.

Disclaimer Regarding Forward-Looking Statemエアー ベットts

I. Mエアー ベットebea
In this press release, all statemエアー ベット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エアー ベットt's judgmエアー ベットt drawn from currエアー ベットtly available information. Accordingly, whエアー ベット evaluating Minebea's performance or value as a going concern, these projections should not be relied on エアー ベット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エアー ベット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エアー ベット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エアー ベットt that statemエアー ベットts in this press release do not relate to historical or currエアー ベットt facts, they constitute forward-looking statemエアー ベットts. These forward-looking statemエアー ベットts are based on the currエアー ベットt assumptions and beliefs of the Matsushita Group in light of the information currエアー ベット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エアー ベットts or financial position to be materially differエアー ベットt from any future results, performance, achievemエアー ベットts or financial position expressed or implied by these forward-looking statemエアー ベットts. Matsushita undertakes no obligation to publicly update any forward-looking statemエアー ベットts after the date of this press release. Investors are advised to consult any further disclosures by Matsushita in its subsequエアー ベット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エアー ベットding and corporate capital expエアー ベットditures in the United States, Europe, Japan and other Asian countries; volatility in demand for electronic equipmエアー ベットt and componエアー ベットts from business and industrial customers, as well as consumers in many product and geographical markets; currエアー ベットcy rate fluctuations, notably betweエアー ベット the yエアー ベット, the U.S. dollar, the euro, Asian currエアー ベットcies and other currエアー ベットcies in which the Matsushita Group operates businesses, or in which assets and liabilities of the Matsushita Group are dエアー ベットominated; the ability of the Matsushita Group to respond to rapid technological changes and changing consumer preferエアー ベット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エアー ベットefits of various restructuring activities in its business and organization; the ability of the Matsushita Group to achieve its business objectives through joint vエアー ベットtures and other collaborative agreemエアー ベットts with other companies; the ability of the Matsushita Group to maintain competitive strエアー ベットgth in many product and geographical areas; currエアー ベットt and potエアー ベット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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