Panasonic Sets FY 2009 CO2 Emissions Target at 3.87 Million Tons

Osaka, Japan - Panasonic, the leading brand by which Matsushita Electric Industrial Co., Ltd. is known, announced today the company will speed up its CO2 reduction initiative in FY 2009 ending March, 2009. Through its core initiative of reducing CO2 emissions in production activities, the company had set a goal to decrease its global CO2 output by 300,000 tons from the FY 2007 level in FY 2010. This activity is accelerated in FY 2009 to reach the emissions target of 3.87 million tons, a reduction of 110,000 tons from FY 2007 level.

In October 2007, "Panasonic Eco Ideas Declaration"* was launched. Since then, the company has embraced the reduction of environmental impact in all its business activities and steady growth with profitability as the main priorities of its GP3 mid-term management plan.

Global CO2 emissions in FY 2008 totaled 3.97 million tons - a reduction of 10,000 tons compared to the level in FY 2007 (3.98 million tons). The result in Japan corresponds to a 40% reduction of CO2 emissions per basic unit of production output compared to the FY 1991 level.

This April, Panasonic established the Corporate CO2 Emissions Reduction Promoting Committee to speed up activities in FY 2009. The committee consists of environmental staff members and related departments from group companies that aim to collaborate in achieving corporate targets.

By setting up to 33 specific energy conservation items, the committee promotes and ensures that these CO2 reduction activities are carried out in a measurable manner at all Panasonic factories. At the same time, a corporate database will be maintained to record more than 1,000 methods to reduce CO2.

Using these measures, Panasonic aims to accomplish its FY 2010 CO2 reduction target, and in FY 2011, the goal is to cut emissions back to approximately 3.6 million tons, the figure equivalent to that of FY 2001.

* Panasonic Eco Ideas Declaration:

About Panasonic

Best known for its Panasonic brand name, Matsushita Electric Industrial Co., Ltd. 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 9.07 trillion yen (approx. US$90.52 billion) for the year ended March 31, 2008. The company's shares are listed on the Tokyo, Osaka, Nagoya and New York (NYSE:MC) stock exchanges. For more information on the company and the Panasonic brand, visit the company's website at http://panasonic.net/.