News Releases

6/30/2010

Transfer of Management Rights Relating to IPS Alpha Technology

Tokyo, Japan, June 30, 2010 --- Panasonic Corporation (NYSE: PC / TSE: 6752, “Panasonic”), Hitachi, Ltd. (NYSE:HIT / TSE:6501, “Hitachi”) and Hitachi Displays, Ltd. (“Hitachi Displays”), Hitachi’s subsidiary which is engaged in the small and medium-sized LCD panel business, announced that Hitachi Displays conducts a corporate split today to establish IPS Alpha Support Co., Ltd (“IPS Alpha Support”). IPS Alpha Support will assume Hitachi Displays’ entire shareholding of 50.02% shares of IPS Alpha Technology, Ltd. (“IPS Alpha”), which designs, manufactures and sells large-sized LCD TV panels. Also today, Hitachi Displays transfers 94% shares of IPS Alpha Support to Panasonic, and 6% shares to Hitachi.

As a result of these transactions, Panasonic will effectively acquire 47.02% shares of IPS Alpha. Adding to its existing shareholding of 44.98%, Panasonic will have an effective investment in IPS Alpha of 92%.

Hitachi will have an effective investment in IPS Alpha of 5% during the current fiscal year, by acquiring 6% shares of IPS Alpha Support and other measures.

Outline of IPS Alpha Technology (As of June 30, 2010)

1)

Company name

IPS Alpha Technology, Ltd.

2)

President

Fumiaki Yonai

3)

Headquarters

3732, Hayano, Mobara-shi, Chiba, Japan

4)

Established

January 1, 2005

5)

Main businesses

Design, manufacture, sales and related maintenance & services of
Large-sized LCD TV panels

6)

Fiscal year-end

March 31

7)

No. of employees

3,065 (As of March 31, 2010; consolidated)

8)

Capital

100.0 billion yen

9)

Shareholdings

IPS Alpha Support Co., Ltd. : 50.02%,
Panasonic : 44.98%,
Development Bank of Japan and others : 5.00%

10)

Sales

142.0 billion yen (Year ended March 31, 2010; consolidated)

Outline of Hitachi Displays (As of June 30, 2010)

1)

Company name

Hitachi Displays, Ltd.

2)

President

Yoshiyuki Imoto

3)

Headquarters

Kanda Neribei-cho 3, Chiyoda-ku, Tokyo, Japan

4)

Established

October 1, 2002

5)

Main businesses

Design, manufacture, and sales of small & medium-sized LCD
panels and related products, as well as maintenance and services

6)

Fiscal year-end

March 31

7)

No. of employees

11,412 (As of March 31, 2010; consolidated)

8)

Capital

35,274.5 million yen

9)

Shareholdings

Hitachi, Ltd. : 75.1%,
Canon Inc. : 24.9%

10)

Sales

156.2 billion yen (Year ended March 31, 2010; consolidated)

About Panasonic Corporation

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 7.42 trillion yen (US$79.4 billion) for the year ended March 31, 2010. 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.

About Hitachi, Ltd.

Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2009 (ended March 31, 2010) consolidated revenues totaled 8,968 billion yen ($96.4 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.

Contacts

PR Group, Corporate Communications Headquarters
Panasonic Corporation
(Osaka) +81-6-6908-0447
(Tokyo) +81-3-3436-2621

Hajime Kito
Hitachi, Ltd.
+81-3-5208-9325

Hiromichi Moriguchi
Hitachi Displays, Ltd.
+81-3-4554-5555

Mickey Takeuchi
Hitachi America, Ltd.
+1-914-333-2987