Panasonic Transitions to a Holding Company System

Panasonic Corporation (hereinafter, "Panasonic") today announced that the Board of Directors of Panasonic has resolved to transition to a holding company system in April 2022 (planned). The transition to the holding company system is scheduled to take place subject to the approval of Panasonic’s ordinary general meeting of shareholders to be held in June 2021 and, as necessary, approval from relevant government agencies.