Panasonic to Build New Solar Manufacturing Base in Malaysia to Produce Wafers, Cells and Modules

Panasonic Corporation (NYSE:PC)(TOKYO:6752)("Panasonic") today announced its plan to establish a company in Malaysia that will serve as Panasonic's new solar manufacturing base. Panasonic Energy Malaysia Sdn. Bhd., to be set up in December 2011, will operate a vertically-integrated solar manufacturing facility producing from wafers to cells and modules. Panasonic will invest 45 billion yen in the facility, which will start operation in December 2012 with an annual production capacity of 300 MW.

With environmental awareness increasing globally and introduction of subsidy systems and Feed-in Tariff schemes in Japan as well as other countries, etc., the solar cell market is predicted to grow further. Robust demand is expected particularly in the residential sector, the main target of the Panasonic HIT^® (Heterojunction with Intrinsic Thin-layer) solar modules. The new factory, to be built in the Kulim Hi-Tech Park in Kedah, will not only help Panasonic meet this growing demand, but also strengthen the HIT module's cost-competitiveness with the vertically-integrated production.

Panasonic will sell its solar modules as an individual product as well as part of a system combined with storage batteries. Further, as part of its comprehensive solutions business, which is built on capacities brought together across the Panasonic group companies, Panasonic will accelerate its solar business development globally.

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/