KINTETSU WORLD EXPRESS, INC. 
By
October 24, 2013
Kintetsu World Express, Inc.
Panasonic Corporation
Kintetsu World Express, Inc. ("Kintetsu World Express") and Panasonic Corporation
("Panasonic") today announce that the two companies have reached a basic agreement on the partial transfer to Kintetsu World Express of ordinary shares of Panasonic Trading Service Japan Co., Ltd. ("Panasonic Trading Service Japan"), a consolidated subsidiary of Panasonic. Going forward, Kintetsu World Express and Panasonic will carry out specific examinations of the transaction and are aiming to promptly execute a final agreement.
Kintetsu World Express is dedicated to being a Global Logistics Partner that provides trust and satisfaction to customers through its logistics, and it is actively working toward realizing that identity as a unified group in order to meet increasingly diverse logistics needs. By newly incorporating Panasonic Trading Service Japan, which has a thorough knowledge of the logistics needs of manufacturers, into the Kintetsu World Express Group through the transfer, Kintetsu World Express will be able to further accumulate its know-how and generate new value, thereby increasing the competitiveness of the entire Kintetsu World Express Group
Panasonic's basic philosophy is to provide a better way of living and satisfaction for customers across the world, and it is proactively working toward realizing that through its provision of products and services on the global market. As a result of the transfer, by being able to utilize Kintetsu World Express's management resources and know-how, Panasonic aims to maintain and increase the level of service in its international trade operations it is currently providing in its Group through Panasonic Trading Service Japan, while realizing increased efficiency in trade-related operations in the Panasonic Group and reasonable cuts in the costs of outsourcing international trade-related operations, and also striving to increase the corporate value of Panasonic Trading Service Japan.
(1) Name Panasonic Trading Service Japan Co., Ltd.
(2) Title and name of representative
Norimichi Kasamori, President
(3) Address 2-1-61 Shiromi, Chuo-ku, Osaka-shi, Osaka
(4) Incorporation date September 1980
(5) Business All matters relating to import, export, and tripartite trade procedures for the Panasonic Group
(6) Employees 116 (as at October 1, 2013) (7) Capital 10 million yen
(8) Shareholders and their holdings ratios
Panasonic Co., Ltd. 100%
(9) Sales 1,457 million yen (for the period ended March 2013)
The matters of the basic agreement between the two companies is as follows.
(1) Panasonic will sell 13,000 (65%) of the 20,000 issued shares of Panasonic Trading
Service Japan to Kintetsu World Express.
(2) Panasonic Trading Service Japan will realize increased efficiency in trade procedures and operations by utilizing Kintetsu World Express Group's management resources and know-how
(3) Panasonic and Kintetsu World Express will endeavor to maintain and to improve the level of the services provided by Panasonic Trading Service Japan.
Going forward, both companies will continue to have discussions aimed at executing a final agreement by provisionally the end of December 2013. The transfer will be carried out in accordance with the final agreement, and at present the companies plan to carry it out in April
2014.
Inquiries:
Kintetsu World Express, Inc.:
General Affairs Department, IR & PR Group
Phone: +81-(0)3-6863-6443
Panasonic Corporation:
Tokyo Public Relations Office
Tel: +81-(0)3-3574-5664 Fax: +81-(0)3-3574-5699
Panasonic News Bureau
Tel: +81-(0)3-3542-6205 Fax: +81-(0)3-3542-9018
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