Announcement of Financial Results: Panasonic Reports First-Quarter Results

Panasonic Corporation (NYSE:PC)(TOKYO:6752)("Panasonic") today reported its consolidated financial results for the first quarter, ended June 30, 2011, of the current fiscal year ending March 31, 2012 (fiscal 2012).

First-quarter Results

Consolidated group sales for the first quarter decreased by 11% to 1,929.5 billion yen due mainly to the Great East Japan Earthquake on March 11, 2011, compared with 2,161.1 billion yen for the first quarter of the year ended March 31, 2011 (fiscal 2011). Of the consolidated group total, domestic sales amounted to 967.6 billion yen, down by 8% from 1,054.4 billion yen a year ago. Overseas sales decreased by 13% to 961.9 billion yen from 1,106.7 billion yen a year ago.

During the first quarter under review, the Japanese economy was in a severe condition due to the Great East Japan Earthquake, though it was on the way to recovery with the automobile sales increase and the growing demand for energy-efficient consumer products. In the meantime, the global economy showed signs of slowdown caused by the concern for the U.S. economic recession and inflation, although demand in emerging markets including China expanded.

In such a business environment, Panasonic has been working towards two themes, Paradigm Shift to Growth and Laying Foundations to be a Green Innovation Company, in the second year of its three-year midterm management plan called "Green Transformation 2012 (GT12)" as the first step towards the 100^th anniversary vision of becoming the "No.1 Green Innovation Company in the Electronics Industry."

Operating profit¹ decreased to 5.6 billion yen from 83.8 billion yen a year ago. Although the company pursued a thorough streamlining material cost and fixed cost reduction, this result was due mainly to sales decline affected by the disaster, ever-intensified price competition and rising raw material costs. In the meantime, pre-tax loss was 17.4 billion yen compared with a profit of 84.3 billion yen a year ago, due mainly to the expenses associated with the implementation of early retirement programs and the loss related to the disaster incurred in other incomes (deductions). Net loss attributable to Panasonic Corporation amounted to 30.4 billion yen, decreased from a profit of 43.7 billion yen a year ago.

¹ For information about operating profit, see Note 2 of the Notes to consolidated financial statements.

Breakdown by Business Segment

The company's first quarter consolidated sales by business segment and segment profit (loss), with previous year comparisons, are summarized as follows:

Digital AVC Networks

Sales decreased by 21% to 660.6 billion yen from 831.7 billion yen a year ago. Despite favorable sales of Blu-ray Disc recorders, this result was due mainly to sales decline in flat-panel TVs, automotive electronics and mobile phones. Segment loss amounted to 16.0 billion yen, compared with segment profit of 27.9 billion yen a year ago due mainly to sales decrease and the appreciation of the yen.

Home Appliances

Sales increased by 6% to 342.9 billion yen, compared with 322.8 billion yen a year ago due mainly to favorable sales in air conditioners as well as stable sales in washing machines and microwave ovens. Segment profit increased by 4% to 33.6 billion yen, compared with 32.3 billion yen a year ago due mainly to sales increase and streamlining efforts.

PEW and PanaHome

Sales increased by 7% to 417.3 billion yen from 391.2 billion yen a year ago. Regarding Panasonic Electric Works Co., Ltd. (PEW) and its subsidiaries, sales growth in electrical construction and building materials of housing/building-related business and home appliances business contributed to the overall sales increase, although sales declined in devices such as electronic materials and automation controls mainly for automobile-related products. For PanaHome Corporation and its subsidiaries, favorable sales of housing construction mainly for detached housing led to its overall sales increase, thanks to the Japanese stable housing market conditions. Segment profit was 10.6 billion yen, increased from 8.3 billion yen a year ago due mainly to favorable sales and fixed cost reduction.

Components and Devices

Sales decreased by 13% to 205.5 billion yen, compared with 236.3 billion yen a year ago. This result was due mainly to declines in sales of general components, semiconductors and batteries. Segment loss was 7.5 billion yen, compared with segment profit of 11.8 billion yen a year ago due mainly to subdued demand.

SANYO

Sales decreased by 22% to 324.0 billion yen, compared with 413.0 billion yen a year ago. Although sales of cold-chain equipments, commercial air conditioners and solar photovoltaic systems were stable, sales of devices, digital cameras and in-car-related equipments were sluggish. Sales decline owing to the semiconductor business transfer in fiscal 2011 also led to the overall sales decrease. This resulted in segment loss of 14.0 billion yen, compared with segment profit of 5.0 billion yen a year ago after incurring the expenses such as amortization of intangible assets recorded at the acquisition.

Other

Sales totaled 284.0 billion yen, up 3% from 275.4 billion yen a year ago, due mainly to favorable sales in factory automation equipment. Segment profit amounted to 11.9 billion yen, compared with 12.8 billion yen a year ago.

Consolidated Financial Condition

Net cash used in operating activities for the first quarter amounted to 43.3 billion yen. This was attributable primarily to net loss and an increase in inventories. Net cash used in investing activities amounted to 47.7 billion yen. This was due primarily to capital expenditures offsetting proceeds from disposals of property, plant and equipment. Net cash used in financing activities was 35.9 billion yen, due mainly to repayments of long-term debt and payments of cash dividends. Taking into consideration the effect of exchange rate fluctuations, cash and cash equivalents totaled 837.0 billion yen as of June 30, 2011, down 137.8 billion yen, compared with the end of the last fiscal year.

The company's consolidated total assets as of June 30, 2011 decreased by 157.9 billion yen to 7,665.0 billion yen from March 31, 2011. This was due mainly to the appreciation of the yen and a decrease in cash and cash equivalents. Panasonic Corporation shareholders' equity increased by 207.2 billion yen, compared with March 31, 2011, to 2,766.2 billion yen, and noncontrolling interests decreased by 287.3 billion yen to 100.0 billion yen as of June 30, 2011. This result was due primarily to an increase of 271.2 billion yen in Panasonic Corporation shareholders' equity and a decrease of the same amount in noncontrolling interests, owing to the share exchanges for the acquisition of all shares of PEW and SANYO on April 1, 2011.

Outlook for Fiscal 2012

The business performance outlook for fiscal 2012 remains unchanged from the previous forecast announced on June 20, 2011.

Panasonic Corporation is one of the world's leading manufacturers of electronic and electric products for consumer, business and industrial use. Panasonic's shares are listed on the Tokyo, Osaka, Nagoya and New York stock exchanges.

For more information, please visit the following web sites:

Panasonic home page URL: http://panasonic.net/

Panasonic IR web site URL: http://panasonic.net/ir/

Disclaimer Regarding Forward-Looking Statements

This press release includes forward-looking statements (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 Panasonic and its Group companies (the Panasonic Group). To the extent that statements in this press release do not relate to historical or current facts, they constitute forward-looking statements. These forward-looking statements are based on the current assumptions and beliefs of the Panasonic Group in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause the Panasonic Group's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. Panasonic undertakes no obligation to publicly update any forward-looking statements after the date of this press release. Investors are advised to consult any further disclosures by Panasonic in its subsequent filings with the U.S. Securities and Exchange Commission pursuant to the U.S. Securities Exchange Act of 1934 and its other filings.

The risks, uncertainties and other factors referred to above include, but are not limited to, economic conditions, particularly consumer spending and corporate capital expenditures in the United States, Europe, Japan, China and other Asian countries; volatility in demand for electronic equipment and components from business and industrial customers, as well as consumers in many product and geographical markets; currency rate fluctuations, notably between the yen, the U.S. dollar, the euro, the Chinese yuan, Asian currencies and other currencies in which the Panasonic Group operates businesses, or in which assets and liabilities of the Panasonic Group are denominated; the possibility of the Panasonic Group incurring additional costs of raising funds, because of changes in the fund raising environment; the ability of the Panasonic Group to respond to rapid technological changes and changing consumer preferences with timely and cost-effective introductions of new products in markets that are highly competitive in terms of both price and technology; the possibility of not achieving expected results on the alliances or mergers and acquisitions including the business reorganization after the acquisition of all shares of Panasonic Electric Works Co., Ltd. and SANYO Electric Co., Ltd.; the ability of the Panasonic Group to achieve its business objectives through joint ventures and other collaborative agreements with other companies; the ability of the Panasonic Group to maintain competitive strength in many product and geographical areas; the possibility of incurring expenses resulting from any defects in products or services of the Panasonic Group; the possibility that the Panasonic Group may face intellectual property infringement claims by third parties; current and potential, direct and indirect restrictions imposed by other countries over trade, manufacturing, labor and operations; fluctuations in market prices of securities and other assets in which the Panasonic Group has holdings or changes in valuation of long-lived assets, including property, plant and equipment and goodwill, deferred tax assets and uncertain tax positions; future changes or revisions to accounting policies or accounting rules; natural disasters including earthquakes, prevalence of infectious diseases throughout the world and other events that may negatively impact business activities of the Panasonic Group; as well as direct or indirect adverse effects of the Great East Japan Earthquake on the Panasonic Group in terms of, among others, component procurement, manufacturing, distribution, economic conditions in Japan including consumer spending and sales activities overseas. The factors listed above are not all-inclusive and further information is contained in Panasonic's latest annual reports, Form 20-F, and any other reports and documents which are on file with the U.S. Securities and Exchange Commission.

(Financial Tables and Additional Information Attached)

Panasonic Corporation
Consolidated Statement of Operations *
(Three months ended June 30)
		Yen (millions)								Percentage
		2011				2010				2011/2010
Net sales		¥	1,929,548			¥	2,161,126			89	%
Cost of sales			(1,455,507	)			(1,570,787	)
Selling, general and
administrative expenses			(468,465	)			(506,501	)
Interest income			3,426				2,769
Dividends received			2,815				3,058
Interest expense			(7,345	)			(7,381	)
Expenses associated with
the implementation of
early retirement programs *			(3,571	)			(927	)
Other income (deductions), net *			(18,334	)			2,973
Income (loss) before income taxes			(17,433	)			84,330			--
Provision for income taxes			(17,453	)			(38,337	)
Equity in earnings of
associated companies			2,262				1,745
Net income (loss)			(32,624	)			47,738			--
Less net income (loss) attributable to
noncontrolling interests			(2,273	)			4,060
Net income (loss) attributable to
Panasonic Corporation		¥	(30,351	)		¥	43,678			--
Net income (loss) attributable to
Panasonic Corporation, basic
per common share		(13.13) yen				21.10 yen
per ADS		(13.13) yen				21.10 yen
Net income (loss) attributable to
Panasonic Corporation, diluted
per common share *			--				--
per ADS *			--				--
(Parentheses indicate expenses, deductions or losses.)
* See Notes to consolidated financial statements.
Supplementary Information
(Three months ended June 30)
		Yen (millions)
		2011				2010
Depreciation (tangible assets)		¥	65,533			¥	68,775
Capital investment **		¥	55,274			¥	98,650
R&D expenditures		¥	132,181			¥	133,688
Number of employees (June 30)			365,899				384,816
** These figures are calculated on an accrual basis.

Panasonic Corporation
Consolidated Balance Sheet **
June 30, 2011
With comparative figures for March 31, 2011
		Yen (millions)
Assets		June 30, 2011				March 31, 2011
Current assets:
Cash and cash equivalents		¥	837,041			¥	974,826
Time deposits			58,065				69,897
Trade receivables:
Notes			83,108				78,979
Accounts			993,562				1,001,982
Allowance for doubtful receivables			(21,757	)			(21,860	)
Inventories			976,729				896,424
Other current assets			502,469				489,601
Total current assets			3,429,217				3,489,849
Investments and advances			553,757				569,651
Property, plant and equipment,
net of accumulated depreciation			1,839,327				1,883,309
Other assets			1,842,703				1,880,061
Total assets		¥	7,665,004			¥	7,822,870
Liabilities and Equity
Current liabilities:
Short-term debt, including current portion
of long-term debt		¥	428,798			¥	432,982
Trade payables:
Notes			68,947				60,128
Accounts			889,201				941,124
Other current liabilities			1,411,868				1,412,816
Total current liabilities			2,798,814				2,847,050
Noncurrent liabilities:
Long-term debt			1,151,809				1,162,287
Other long-term liabilities			848,161				867,198
Total noncurrent liabilities			1,999,970				2,029,485
Total liabilities			4,798,784				4,876,535
Panasonic Corporation shareholders' equity:
Common stock			258,740				258,740
Capital surplus			1,115,739				1,100,181
Legal reserve			95,049				94,198
Retained earnings			2,194,058				2,401,909
Accumulated other
comprehensive income (loss) *			(650,702	)			(625,300	)
Treasury stock, at cost			(246,704	)			(670,736	)
Total Panasonic Corporation shareholders' equity			2,766,180				2,558,992
Noncontrolling interests			100,040				387,343
Total equity			2,866,220				2,946,335
Total liabilities and equity		¥	7,665,004			¥	7,822,870
* Accumulated other comprehensive income (loss) breakdown:
		Yen (millions)
		June 30, 2011				March 31, 2011
Cumulative translation adjustments		¥	(488,205	)		¥	(453,158	)
Unrealized holding gains of
available-for-sale securities			14,798				16,835
Unrealized gains of derivative instruments			3,749				2,277
Pension liability adjustments			(181,044	)			(191,254	)
** See Notes to consolidated financial statements.

Panasonic Corporation
Consolidated Information by Business Segment *
(Three months ended June 30)
By Business Segment:
		Yen (billions)								Percentage
[Sales]		2011				2010				2011/2010
Digital AVC Networks		¥	660.6			¥	831.7			79	%
Home Appliances			342.9				322.8			106	%
PEW and PanaHome			417.3				391.2			107	%
Components and Devices			205.5				236.3			87	%
SANYO			324.0				413.0			78	%
Other			284.0				275.4			103	%
Subtotal			2,234.3				2,470.4			90	%
Eliminations			(304.8	)			(309.3	)		--
Consolidated total		¥	1,929.5			¥	2,161.1			89	%
[Segment Profit (Loss)]*
Digital AVC Networks		¥	(16.0	)		¥	27.9			--
Home Appliances			33.6				32.3			104	%
PEW and PanaHome			10.6				8.3			127	%
Components and Devices			(7.5	)			11.8			--
SANYO			(14.0	)			5.0			--
Other			11.9				12.8			94	%
Subtotal			18.6				98.1			19	%
Corporate and eliminations			(13.0	)			(14.3	)		--
Consolidated total		¥	5.6			¥	83.8			7	%
* See Notes to consolidated financial statements.

Panasonic Corporation
Consolidated Statement of Cash Flows *
(Three months ended June 30)
		Yen (millions)
		2011				2010
Cash flows from operating activities:
Net income (loss)		¥	(32,624	)		¥	47,738
Adjustments to reconcile net income (loss) to
net cash provided by operating activities:
Depreciation and amortization			85,981				89,249
Net gain on sale of investments			976				(3,733	)
Cash effects of changes in, excluding acquisition:
Trade receivables			(2,866	)			6,143
Inventories			(87,652	)			(90,092	)
Trade payables			(2,762	)			19,805
Retirement and severance benefits			(5,802	)			(9,602	)
Other			1,491				85,376
Net cash provided by (used in) operating activities			(43,258	)			144,884
Cash flows from investing activities:
Proceeds from disposition of investments
and advances			12,241				54,464
Increase in investments and advances			(2,181	)			(453	)
Capital expenditures			(88,880	)			(94,135	)
Proceeds from disposals of property, plant and equipment			25,397				63,914
(Increase) decrease in time deposits			10,297				1,883
Other			(4,575	)			(6,286	)
Net cash provided by (used in) investing activities			(47,701	)			19,387
Cash flows from financing activities:
Increase (decrease) in short-term debt			2,736				42,668
Increase (decrease) in long-term debt			(17,481	)			(35,617	)
Dividends paid to Panasonic Corporation shareholders			(10,351	)			(10,353	)
Dividends paid to noncontrolling interests			(5,796	)			(5,031	)
(Increase) decrease in treasury stock			(13	)			(366	)
Other			(4,980	)			(60,800	)
Net cash used in financing activities			(35,885	)			(69,499	)
Effect of exchange rate changes on cash
and cash equivalents			(10,941	)			(35,447	)
Net increase (decrease) in cash and cash equivalents			(137,785	)			59,325
Cash and cash equivalents at beginning of period			974,826				1,109,912
Cash and cash equivalents at end of period		¥	837,041			¥	1,169,237
* See Notes to consolidated financial statements.

Notes to consolidated financial statements:
1.		The company's consolidated financial statements are prepared in conformity with U.S. generally accepted accounting principles (U.S. GAAP).
2.		In order to be consistent with generally accepted financial reporting practices in Japan, operating profit, a non-GAAP measure, is presented as net sales less cost of sales and selling, general and administrative expenses. The company believes that this is useful to investors in comparing the company's financial results with those of other Japanese companies. Please refer to the accompanying consolidated statement of operations and Note 3 for the U.S. GAAP reconciliation.
3.		Under U.S. GAAP, expenses associated with the implementation of early retirement programs at certain domestic and overseas companies are included as part of operating profit in the statement of operations.
4.		In other income (deductions), the company incurred 3.6 billion yen as expenses associated with the implementation of early retirement programs of certain domestic and overseas companies.
5.		Comprehensive income (loss) attributable to Panasonic Corporation was reported as a loss of 54,915 million yen for the first quarter of fiscal 2012, and a loss of 48,730 million yen for the first quarter of fiscal 2011. Comprehensive income (loss) attributable to Panasonic Corporation includes "net income (loss) attributable to Panasonic Corporation" and increases (decreases) in accumulated other comprehensive income (loss) attributable to Panasonic Corporation.
6.		Diluted net income (loss) per share attributable to Panasonic Corporation common shareholders has been omitted because the company did not have potential common shares that were outstanding for the period.
7.		Regarding consolidated segment profit (loss), expenses for basic research and administrative expenses at the corporate headquarters level are treated as unallocatable expenses for each business segment, and are included in Corporate and eliminations.
8.		On April 1, 2011, Panasonic conducted share exchanges in order to make Panasonic a wholly-owning parent company, and its subsidiaries Panasonic Electric Works Co., Ltd. (PEW) and SANYO Electric Co., Ltd. (SANYO) its wholly-owned subsidiaries. Therefore, both of PEW and SANYO became wholly-owned subsidiaries of the company. The difference between the fair value of the shares of Panasonic delivered to the noncontrolling interest and the carrying amount of the noncontrolling interests was recognized as an adjustment to capital surplus. As a result of this share exchange, Panasonic Corporation shareholders' equity increased by 271,205 million yen while noncontrolling interests decreased by the same amount.
9.		The company's business segments are classified according to a business domain-based management system, which focuses on global consolidated management by each business domain, in order to ensure consistency of its internal management structure and disclosure.
		Principal internal divisional companies or units and subsidiaries operating in respective segments as of June 30, 2011 are as follows:
		Digital AVC Networks
		AVC Networks Company, Systems & Communications Company*,
		Automotive Systems Company, Panasonic Healthcare Co., Ltd.
		Home Appliances
		Home Appliances Company, Lighting Company, Panasonic Ecology Systems Co., Ltd.
		PEW and PanaHome
		Panasonic Electric Works Co., Ltd., PanaHome Corporation
		Components and Devices
		Semiconductor Company, Panasonic Electronic Devices Co., Ltd., Energy Company
		SANYO
		SANYO Electric Co., Ltd.
		Other
		Panasonic Factory Solutions Co., Ltd., Panasonic Welding Systems Co., Ltd.
		* The operations of System Networks Company and Panasonic Mobile Communications Co., Ltd. in Digital AVC Networks were integrated in April 2011. As a result, Systems & Communications Company was established.
10.		Number of consolidated companies: 623 (including parent company)
11.		Number of associated companies under the equity method: 117

Supplemental Consolidated Financial Data for Fiscal 2012
First Quarter, ended June 30, 2011
1. Sales Breakdown
yen (billions)
			Total									Domestic						Overseas
						12/11			Local currency basis 12/11						12/11						12/11			Local currency basis 12/11
	Video and Audio Equipment		309	.2		78	%		80	%		125	.6		91	%		183	.6		71	%		74	%
	Information and Communications Equipment		291	.4		79	%		82	%		126	.8		66	%		164	.6		93	%		100	%
Digital AVC Networks			600	.6		78	%		81	%		252	.4		76	%		348	.2		80	%		84	%
Home Appliances			329	.7		105	%		108	%		175	.3		104	%		154	.4		106	%		113	%
PEW and PanaHome			368	.0		106	%		107	%		290	.1		107	%		77	.9		102	%		108	%
Components and Devices			169	.0		87	%		91	%		56	.8		88	%		112	.2		87	%		93	%
SANYO			315	.3		77	%		82	%		119	.3		78	%		196	.0		77	%		84	%
Other			146	.9		111	%		113	%		73	.7		109	%		73	.2		113	%		117	%
Total			1,929	.5		89	%		92	%		967	.6		92	%		961	.9		87	%		93	%
(Domestic vs. overseas)			(100	%)								(50	%)					(50	%)
Overseas Sales by Region
yen (billions)
						12/11			Local currency basis 12/11
North and South America			240	.1		84	%		93	%
Europe			197	.2		88	%		89	%
Asia			253	.8		87	%		92	%
China			270	.8		89	%		95	%
Total			961	.9		87	%		93	%

2. Sales By Products
yen (billions)
Product Category		Products			Sales			12/11
Digital AVC Networks		TVs			179	.9		72	%
			Plasma TVs		80	.3		61	%
			LCD TVs		82	.2		80	%
		Digital cameras			44	.4		87	%
		BD / DVD recorders			38	.6		116	%
			BD recorders / players		34	.2		124	%
Home Appliances		Air conditioners			98	.3		121	%
		Washing machines			31	.0		106	%
		Refrigerators			32	.9		100	%
Components and Devices		General components			74	.5		88	%
		Semiconductors *			65	.0		77	%
* Information for semiconductors is on a production basis.

3. Primary Domain Companies' Information
(Business domain company basis)
< Sales, Domain Company Profit and Capital Investment * >
yen (billions)
		Sales						Domain Company Profit									Capital Investment
					12/11						% of sales			12/11						12-11
AVC Networks Company		350	.7		84	%		-29	.8		-8	.5%		-			7	.9		-32	.2
Panasonic Electronic Devices Co., Ltd.		78	.8		82	%		-2	.7		-3	.5%		-			6	.6		+1	.1
Factory Automation Business		49	.2		111	%		6	.7		13	.7%		104	%		0	.5		+0	.3
* These figures are calculated on an accrual basis.

4. Capital Investment by Business Segment *
yen (billions)
		Capital Investment
						12-11
Digital AVC Networks		13	.3			- 32	.6
Home Appliances		7	.5			+2	.0
PEW and PanaHome		11	.0			+1	.2
Components and Devices **		11	.7			- 8	.7
SANYO		9	.0			- 6	.9
Other		2	.8			+1	.6
Total		55	.3			- 43	.4
< ** semiconductors >		< 2	.6	>		< - 2	.4	>
* These figures are calculated on an accrual basis.

5. Foreign Currency Exchange Rates
< Fiscal 2012 First Quarter >
		Export Rates		Rates Used for Consolidation		Foreign Currency Transaction *
						(billions)
U.S. Dollars		¥82		¥82		US$0.9
Euro		¥114		¥117		€ 0.4
< Fiscal 2011 First Quarter >
		Export Rates		Rates Used for Consolidation		Foreign Currency Transaction *
						(billions)
U.S. Dollars		¥91		¥92		US$0.4
Euro		¥124		¥117		€ 0.3
* These figures are based on the net foreign exchange exposure of the company.
Transaction amount of SANYO is included from Fiscal 2012.
6. Number of Employees
(persons)
		End of June 2010		End of March 2011		End of June 2011
Domestic		153,493		145,512		145,546
Overseas		231,323		221,425		220,353
Total		384,816		366,937		365,899

7. Fiscal 2012 Annual Forecasts
Sales Breakdown
yen (billions)
Fiscal 2012 Forecasts			Total									Domestic						Overseas
						12/11			Local currency basis 12/11						12/11						12/11			Local currency basis 12/11
	Video and Audio Equipment		1,530	.0		97	%		98	%		450	.0		76	%		1,080	.0		111	%		112	%
	Information and Communications Equipment		1,560	.0		106	%		106	%		800	.0		102	%		760	.0		110	%		111	%
Digital AVC Networks			3,090	.0		101	%		102	%		1,250	.0		91	%		1,840	.0		110	%		112	%
Home Appliances			1,280	.0		105	%		105	%		690	.0		101	%		590	.0		108	%		109	%
PEW and PanaHome			1,620	.0		104	%		105	%		1,305	.0		104	%		315	.0		106	%		108	%
Components and Devices			770	.0		103	%		104	%		270	.0		104	%		500	.0		103	%		104	%
SANYO			1,300	.0		85	%		87	%		490	.0		81	%		810	.0		88	%		91	%
Other			640	.0		107	%		108	%		345	.0		102	%		295	.0		114	%		115	%
Total			8,700	.0		100	%		101	%		4,350	.0		96	%		4,350	.0		104	%		106	%
(Domestic vs. overseas)			(100	%)								(50	%)					(50	%)
Overseas Sales by Region
yen (billions)
			Fiscal 2012 Forecasts
						12/11			Local currency basis 12/11
North and South America			1,120	.0		105	%		107	%
Europe			880	.0		103	%		105	%
Asia			1,100	.0		103	%		105	%
China			1,250	.0		106	%		107	%
Total			4,350	.0		104	%		106	%

Segment Information
yen (billions)
Fiscal 2012 Forecasts		Sales			12/11			Segment Profit			% of sales			12/11
Digital AVC Networks		3,340	.0		101	%		121	.0		3	.6%		105	%
Home Appliances		1,320	.0		103	%		104	.0		7	.9%		113	%
PEW and PanaHome		1,810	.0		104	%		76	.0		4	.2%		104	%
Components and Devices		945	.0		102	%		35	.0		3	.7%		106	%
SANYO		1,335	.0		85	%		-63	.0		-4	.7%		-
Other		1,210	.0		101	%		55	.0		4	.5%		104	%
Total		9,960	.0		100	%		328	.0		3	.3%		92	%
Corporate and eliminations		-1,260	.0		-			-58	.0		-			-
Consolidated total		8,700	.0		100	%		270	.0		3	.1%		88	%

(Note)		The annual forecast for semiconductors on a production basis for fiscal 2012 is 312.6 billion yen, almost the same as fiscal 2011.

Primary Domain Companies' Information
(Business domain company basis)
< Sales, Domain Company Profit and Capital Investment * >																	yen (billions)
Fiscal 2012 Forecasts
		Sales						Domain Company Profit									Capital Investment
					12/11						% of sales			12/11						12-11
AVC Networks Company		1,728	.1		102	%		0	.0		0	.0%		-			71	.0		-52	.0
Panasonic Electronic Devices Co., Ltd.		374	.0		102	%		16	.2		4	.3%		131	%		36	.7		+5	.5
Factory Automation Business		192	.3		110	%		28	.8		15	.0%		120	%		5	.1		+3	.1
* These figures are calculated on an accrual basis.

Capital Investment*
yen (billions)
		Fiscal 2012 Forecasts
					12-11
Digital AVC Networks		89	.0		-64	.7
Home Appliances		33	.0		-1	.7
PEW and PanaHome		46	.0		+2	.5
Components and Devices **		72	.0		-2	.7
SANYO		62	.0		-25	.2
Other		18	.0		+8	.0
Total		320	.0		-83	.8
< ** semiconductors >		< 19	.9 >		< -1	.5 >
* These figures are calculated on an accrual basis.

Depreciation (tangible assets)												R&D Expenditures
yen (billions)												yen (billions)
Fiscal 2012 Forecasts												Fiscal 2012 Forecasts
			12-11												12-11
303	.0		+18	.8								540	.0		+12	.2

Foreign Currency Transaction*
		Fiscal 2012 Forecasts
U.S. Dollars		US$3.8	billion
Euro		€ 1.7	billion

*		These figures are based on the net foreign exchange exposure of the company.
		Transaction amount of SANYO is included from Fiscal 2012.

Disclaimer Regarding Forward-Looking Statements

This document includes forward-looking statements (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 Panasonic and its Group companies (the Panasonic Group). To the extent that statements in this document do not relate to historical or current facts, they constitute forward-looking statements. These forward-looking statements are based on the current assumptions and beliefs of the Panasonic Group in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause the Panasonic Group's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. Panasonic undertakes no obligation to publicly update any forward-looking statements after the date of this document. Investors are advised to consult any further disclosures by Panasonic in its subsequent filings with the U.S. Securities and Exchange Commission pursuant to the U.S. Securities Exchange Act of 1934 and its other filings.

The risks, uncertainties and other factors referred to above include, but are not limited to, economic conditions, particularly consumer spending and corporate capital expenditures in the United States, Europe, Japan, China, and other Asian countries; volatility in demand for electronic equipment and components from business and industrial customers, as well as consumers in many product and geographical markets; currency rate fluctuations, notably between the yen, the U.S. dollar, the euro, the Chinese yuan, Asian currencies and other currencies in which the Panasonic Group operates businesses, or in which assets and liabilities of the Panasonic Group are denominated; the possibility of the Panasonic Group incurring additional costs of raising funds, because of changes in the fund raising environment; the ability of the Panasonic Group to respond to rapid technological changes and changing consumer preferences with timely and cost-effective introductions of new products in markets that are highly competitive in terms of both price and technology; the possibility of not achieving expected results on the alliances or mergers and acquisitions including the business reorganization after the acquisition of all shares of Panasonic Electric Works Co., Ltd. and SANYO Electric Co., Ltd. the ability of the Panasonic Group to achieve its business objectives through joint ventures and other collaborative agreements with other companies; the ability of the Panasonic Group to maintain competitive strength in many product and geographical areas; the possibility of incurring expenses resulting from any defects in products or services of the Panasonic Group; the possibility that the Panasonic Group may face intellectual property infringement claims by third parties; current and potential, direct and indirect restrictions imposed by other countries over trade, manufacturing, labor and operations; fluctuations in market prices of securities and other assets in which the Panasonic Group has holdings or changes in valuation of long-lived assets, including property, plant and equipment and goodwill, deferred tax assets and uncertain tax positions; future changes or revisions to accounting policies or accounting rules; natural disasters including earthquakes, prevalence of infectious diseases throughout the world and other events that may negatively impact business activities of the Panasonic Group; as well as direct or indirect adverse effects of the Great East Japan Earthquake on the Panasonic Group. The factors listed above are not all-inclusive and further information is contained in Panasonic's latest annual reports, Form 20-F, and any other reports and documents which are on file with the U.S. Securities and Exchange Commission.

< Attachment 1 > Reference
Segment information for fiscal 2012
Sales		Yen (billions)
		1st Quarter (Apr. to Jun.)
Digital AVC Networks		660	.6
Home Appliances		342	.9
PEW and PanaHome		417	.3
Components and Devices		205	.5
SANYO		324	.0
Other		284	.0
Subtotal		2,234	.3
Eliminations		-304	.8
Total		1,929	.5
Segment profit		Yen (billions)
		1st Quarter (Apr. to Jun.)
Digital AVC Networks		-16	.0
Home Appliances		33	.6
PEW and PanaHome		10	.6
Components and Devices		-7	.5
SANYO		-14	.0
Other		11	.9
Subtotal		18	.6
Corporate and eliminations		-13	.0
Total		5	.6

< Attachment 2 > Reference
Segment information for fiscal 2011
Sales											Yen (billions)
		1st Quarter (Apr. to Jun.)			2nd Quarter (Jul. to Sep.)			3rd Quarter (Oct. to Dec.)			4th Quarter (Jan. to Mar.)			Full year (Apr. to Mar.)
Digital AVC Networks		831	.7		826	.1		927	.6		718	.6		3,304	.0
Home Appliances		322	.8		313	.9		337	.5		301	.7		1,275	.9
PEW and PanaHome		391	.2		442	.8		446	.5		454	.5		1,735	.0
Components and Devices		236	.3		244	.6		232	.9		212	.5		926	.3
SANYO		413	.0		416	.7		393	.3		338	.9		1,561	.9
Other		275	.4		285	.0		262	.5		374	.8		1,197	.7
Subtotal		2,470	.4		2,529	.1		2,600	.3		2,401	.0		10,000	.8
Eliminations		-309	.3		-322	.3		-314	.8		-361	.7		-1,308	.1
Total		2,161	.1		2,206	.8		2,285	.5		2,039	.3		8,692	.7
Segment profit											Yen (billions)
		1st Quarter (Apr. to Jun.)			2nd Quarter (Jul. to Sep.)			3rd Quarter (Oct. to Dec.)			4th Quarter (Jan. to Mar.)			Full year (Apr. to Mar.)
Digital AVC Networks		27	.9		33	.4		39	.9		13	.7		114	.9
Home Appliances		32	.3		16	.8		32	.8		10	.4		92	.3
PEW and PanaHome		8	.3		22	.5		23	.2		19	.0		73	.0
Components and Devices		11	.8		13	.7		3	.6		3	.9		33	.0
SANYO		5	.0		1	.1		-5	.7		-8	.4		-8	.0
Other		12	.8		10	.2		12	.2		17	.7		52	.9
Subtotal		98	.1		97	.7		106	.0		56	.3		358	.1
Corporate and eliminations		-14	.3		-12	.5		-10	.7		-15	.3		-52	.8
Total		83	.8		85	.2		95	.3		41	.0		305	.3

< Attachment 3 > Reference
Segment information for fiscal 2010
Sales											Yen (billions)
		1st Quarter (Apr. to Jun.)			2nd Quarter (Jul. to Sep.)			3rd Quarter (Oct. to Dec.)			4th Quarter (Jan. to Mar.)			Full year (Apr. to Mar.)
Digital AVC Networks		773	.3		830	.8		974	.1		831	.3		3,409	.5
Home Appliances		306	.6		288	.3		305	.6		303	.7		1,204	.2
PEW and PanaHome		357	.7		416	.0		410	.7		447	.7		1,632	.1
Components and Devices		213	.3		243	.5		246	.9		227	.8		931	.5
SANYO		-			-			-			404	.8		404	.8
Other		204	.7		241	.4		231	.6		334	.5		1,012	.2
Subtotal		1,855	.6		2,020	.0		2,168	.9		2,549	.8		8,594	.3
Eliminations		-260	.1		-282	.2		-282	.3		-351	.7		-1,176	.3
Total		1,595	.5		1,737	.8		1,886	.6		2,198	.1		7,418	.0
Segment profit											Yen (billions)
		1st Quarter (Apr. to Jun.)			2nd Quarter (Jul. to Sep.)			3rd Quarter (Oct. to Dec.)			4th Quarter (Jan. to Mar.)			Full year (Apr. to Mar.)
Digital AVC Networks		-13	.6		26	.3		40	.2		34	.4		87	.3
Home Appliances		18	.6		8	.1		31	.3		8	.1		66	.1
PEW and PanaHome		-7	.8		12	.0		17	.4		13	.1		34	.7
Components and Devices		-9	.7		13	.4		19	.2		13	.6		36	.5
SANYO		-			-			-			-0	.7		-0	.7
Other		-0	.9		3	.0		6	.2		11	.4		19	.7
Subtotal		-13	.4		62	.8		114	.3		79	.9		243	.6
Corporate and eliminations		-6	.8		-13	.7		-13	.3		-19	.3		-53	.1
Total		-20	.2		49	.1		101	.0		60	.6		190	.5

Notes:		1.		The company restructured the motor business on April 1, 2010. Accordingly, segment information for Home Appliances, and Components and Devices in fiscal 2010 are reclassified to conform to the presentation for fiscal 2011.
		2.		SANYO and its subsidiaries became Panasonic's consolidated subsidiaries in December 2009. The operating results of SANYO and its subsidiaries are not included in the company’s consolidated financial statements for the period before December 2009.

< Attachment 4 > Reference
Primary domain companies' information for fiscal 2012
Sales		Yen (billions)
		1st Quarter (Apr. to Jun.)
AVC Networks Company		350	.7
Panasonic Electronic Devices Co., Ltd.		78	.8
Factory Automation Business		49	.2
Domain company profit		Yen (billions)
		1st Quarter (Apr. to Jun.)
AVC Networks Company		-29	.8
Panasonic Electronic Devices Co., Ltd.		-2	.7
Factory Automation Business		6	.7

Note:		In April 2011, the operations of Panasonic Mobile Communications Co., Ltd. and the System Networks Company were integrated and the Systems & Communications Company was established. Accordingly, in this information, Panasonic Mobile Communications Co., Ltd. has been withdrawn from fiscal 2012.

Primary domain companies' information for fiscal 2011
Sales											Yen (billions)
		1st Quarter (Apr. to Jun.)			2nd Quarter (Jul. to Sep.)			3rd Quarter (Oct. to Dec.)			4th Quarter (Jan. to Mar.)			Full year (Apr. to Mar.)
AVC Networks Company		419	.8		424	.6		515	.2		341	.0		1,700	.6
Panasonic Mobile Communications Co., Ltd.		66	.1		73	.6		56	.2		47	.5		243	.4
Panasonic Electronic Devices Co., Ltd.		95	.8		98	.1		89	.5		82	.4		365	.8
Factory Automation Business		44	.5		52	.1		38	.3		39	.3		174	.2
Domain company profit											Yen (billions)
		1st Quarter (Apr. to Jun.)			2nd Quarter (Jul. to Sep.)			3rd Quarter (Oct. to Dec.)			4th Quarter (Jan. to Mar.)			Full year (Apr. to Mar.)
AVC Networks Company		-18	.9		1	.0		0	.2		-10	.4		-28	.1
Panasonic Mobile Communications Co., Ltd.		2	.7		3	.6		0	.8		-1	.6		5	.5
Panasonic Electronic Devices Co., Ltd.		3	.2		5	.1		3	.0		1	.1		12	.4
Factory Automation Business		6	.5		8	.9		4	.1		4	.5		24	.0
Primary domain companies' information for fiscal 2010
Sales											Yen (billions)
		1st Quarter (Apr. to Jun.)			2nd Quarter (Jul. to Sep.)			3rd Quarter (Oct. to Dec.)			4th Quarter (Jan. to Mar.)			Full year (Apr. to Mar.)
AVC Networks Company		366	.8		435	.5		526	.2		374	.2		1,702	.7
Panasonic Mobile Communications Co., Ltd.		102	.0		63	.9		63	.7		77	.8		307	.4
Panasonic Electronic Devices Co., Ltd.		84	.3		95	.6		97	.3		88	.8		366	.0
Factory Automation Business		15	.9		24	.3		26	.5		33	.9		100	.6
Domain company profit											Yen (billions)
		1st Quarter (Apr. to Jun.)			2nd Quarter (Jul. to Sep.)			3rd Quarter (Oct. to Dec.)			4th Quarter (Jan. to Mar.)			Full year (Apr. to Mar.)
AVC Networks Company		-34	.6		1	.7		0	.1		-1	.3		-34	.1
Panasonic Mobile Communications Co., Ltd.		7	.8		1	.9		0	.4		0	.8		10	.9
Panasonic Electronic Devices Co., Ltd.		-3	.8		2	.9		4	.6		0	.9		4	.6
Factory Automation Business		-7	.6		-1	.9		0	.1		2	.7		-6	.7