Panasonic to Move Procurement and Logistics Headquarters to Singapore

Osaka, Japan - Panasonic Corporation today announced that it will move the headquarters of its procurement and logistics operations from Osaka to Singapore gradually from April 2012.

The move is part of the company's globalization efforts in line with its "GT12" midterm management plan. Panasonic is currently undertaking a paradigm shift towards sustainable business growth under the plan that has set out goals for the three years to March 2013 for the company to build a solid foundation to achieve its centennial vision of becoming the "No. 1 Green Innovation Company in the Electronics Industry" by 2018. This paradigm shift also includes global optimization of the procurement and logistics operations. This transfer marks the first time Panasonic relocates overseas certain headquarter operations from its global head office in Osaka.

In the procurement operation, Panasonic will move certain headquarter functions, including a portion of the central purchasing function, to Singapore, thereby building a complete system which handles from contract signing through distribution there. It will promote global use of parts and materials purchased outside Japan. While strengthening its purchasing power overseas, Panasonic will reinforce the procurement at optimum locations by collaborating with its technology and quality division to speed up the certifying process of the procured parts and materials. At the same time, the company will work to develop new suppliers to cope with rising material prices as well as to cut procurement costs.

In logistics, the transfer to Singapore, an air and marine logistics hub in Asia, reflects Panasonic's increasing procurement in Asia. By rebuilding a logistics system with Asia in the center of the operation, Panasonic will accelerate its efforts to streamline the logistics operation and reduce costs.

The operational shift entails personnel relocations. About a dozen of people, including the director overseeing the procurement and logistics operations, will move to Singapore to spearhead the business strategically on a global scale. Some of the headquarter operations will remain in Japan, such as the coordinating function between the group head office and internal companies called "business domains" and procurement and logistics activities in Japan.

Through those initiatives, the Panasonic Group will accelerate the paradigm shift towards globalization, aiming to transform itself into a dynamic company filled with strong growth potential, which is the goal of the GT12.

About Panasonic

Panasonic Corporation is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated net sales of 8.69 trillion yen (US$105 billion) for the year ended March 31, 2011. The company's shares are listed on the Tokyo, Osaka, Nagoya and New York (NYSE:PC) stock exchanges. For more information on the company and the Panasonic brand, visit the company's website at http://panasonic.net/