-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MjmPr331/OnJ6kWhCjZ6dkPy5s6oaUlm8ItC2NLtFGNHJpRLruwQE0oeldKDSvDC jg/JQh3Bhk1dHD3StMbqtg== 0000950168-02-003653.txt : 20021204 0000950168-02-003653.hdr.sgml : 20021204 20021204084806 ACCESSION NUMBER: 0000950168-02-003653 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20021113 FILED AS OF DATE: 20021204 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MATSUSHITA ELECTRIC INDUSTRIAL CO LTD CENTRAL INDEX KEY: 0000063271 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC & OTHER ELECTRICAL EQUIPMENT (NO COMPUTER EQUIP) [3600] IRS NUMBER: 999999999 STATE OF INCORPORATION: M0 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06784 FILM NUMBER: 02847961 BUSINESS ADDRESS: STREET 1: 1006, OAZA KADOMA CITY: KADOMA-SHI, OSAKA STATE: M0 ZIP: 571-8501 MAIL ADDRESS: STREET 1: 1006, OAZA KADOMA CITY: KADOMA-SHI, OSAKA STATE: M0 ZIP: 571-8501 FORMER COMPANY: FORMER CONFORMED NAME: MATSUSHITA ELECTRIC INDUSTRIAL CO LTD DATE OF NAME CHANGE: 19950531 6-K 1 d6k.htm FORM 6-K Form 6-K
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FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
Report of Foreign Private Issuer
 
Pursuant to Rule 13a-16 or 15d-6 of
The Securities Exchange Act of 1934
 
For the Month of November, 2002
Commission File Number: 1-6784
Matsushita Electric Industrial Co., Ltd.
Kadoma, Osaka, Japan
 
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
 
Form 20-F x    Form 40-F ¨
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):         
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):         
 
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
Yes ¨    No x
 
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-            

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This Form 6-K consists of:
 
 
1.
 
 
 
2.
 
 
 
3.
 

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SIGNATURE
 
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
 
 
Matsushita Electric Industrial Co., Ltd.
 
By:
  
 
/s/    SHIGERU NAKATANI        
   
Shigeru Nakatani, Attorney-in-Fact
President
Panasonic Finance (America), Inc.
 
 
 
Dated: December 4, 2002

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November 13, 2002
 
FOR IMMEDIATE RELEASE
Media Contacts: Yasuhiro Fukagawa, International PR, Tokyo
(Tel: 03-3578-1237, Fax: 03-5472-7608)
 
 
Matsushita Electric Executes Own Share Repurchase
 
 
 
Matsushita Electric Industrial Co., Ltd. (NYSE and PCX: MC), best known for its “Panasonic” and “National” brand products, today announced that it has purchased a portion of its own shares from the market in conformity with provisions of Article 210 of the Japanese Commercial Code.
 
Details of the share repurchase are as follows:
 
1.  Class of shares: Common stock
 
2.  Period of purchase: Between October 31, 2002 and November 13, 2002
 
3.  Aggregate purchase amount: 16,474,657,000 yen
 
4.  Aggregate number of shares purchased: 13,000,000 shares
 
5.  Method of purchase: Shares were purchased on the Tokyo Stock Exchange
 
 
(Reference)
 
1)  The following are the resolutions that were approved at the ordinary general meeting of shareholders held on June 27, 2002:
 
 
•
 
Class of shares: Common stock
 
 
•
 
Aggregate number of shares to be purchased: Up to 180 million shares
 
 
•
 
Aggregate purchase amount: Up to 300 billion yen
 
2)  Cumulative total of shares repurchased through November 13, 2002:
 
 
•
 
Aggregate purchase amount: 37,467,704,000 yen
 
 
•
 
Aggregate number of shares purchased: 30,000,000 shares

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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 Matsushita and its group companies (the Matsushita 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 Matsushita Group in light of the information currently available to them, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause the Matsushita 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. Matsushita 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 Matsushita in its subsequent filings with the U.S. Securities and Exchange Commission pursuant to the 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 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, Asian currencies and other currencies in which the Matsushita Group operates businesses, or in which assets and liabilities of the Matsushita Group are denominated; the ability of the Matsushita 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 ability of the Matsushita Group to realize expected benefits of various restructuring activities in its business and organization, including the business divisions/combinations with subsidiaries currently in progress; the ability of the Matsushita Group to achieve its business objectives through joint ventures and other collaborative agreements with other companies; the ability of the Matsushita Group to maintain competitive strength in many product and geographical areas; any changes in the Matsushita Group’s financial and operational position or business environment due to its business restructuring; current and potential, direct and indirect trade restrictions imposed by other countries; and fluctuations in market prices of securities and other assets in which the Matsushita Group has holdings, as well as future changes or revisions to accounting policies or accounting rules.
 
 
# # #

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November 25, 2002
 
FOR IMMEDIATE RELEASE
Media Contacts: Yasuhiro Fukagawa, International PR, Tokyo
(Tel: 03-3578-1237, Fax: 03-5472-7608)
 
Matsushita Electric to Execute Own Share Repurchase
 
Matsushita Electric Industrial Co., Ltd. (MEI [NYSE and PCX symbol: MC]) announced that its Board of Directors today resolved to repurchase its own shares from a subsidiary, in conformity with provisions of Article 211-3 of the amended Japanese Commercial Code.
 
Details of the share repurchase are as follows:
 
1. Name of subsidiary:
 
Kyushu Matsushita Electric Employee Cooperative Society Inc.
 
2. Reason for purchase:
 
As a result of the October 1, 2002 share exchange between MEI and Kyushu Matsushita Electric Co., Ltd. (KME), Kyushu Matsushita Electric Employee Cooperative Society Inc. (KMECS) acquired shares of MEI common stock in exchange for its KME shares held. MEI has decided to use this particular transaction to repurchase such MEI shares held by KMECS in order to conform to Japanese laws that prohibit subsidiaries from holding shares of their parent company.
 
3. Details of purchase:
 
 
 
–
 
Class of shares: MEI common stock
 
–
 
Aggregate number of shares to be purchased: 1,422,000 shares
 
–
 
Aggregate purchase amount: 1,658,052,000 yen
 
–
 
Purchase date: November 26, 2002 (planned)
 
#    #    #

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November 25, 2002
 
FOR IMMEDIATE RELEASE
Media Contacts: Yasuhiro Fukagawa, International PR, Tokyo
(Tel: 03-3578-1237, Fax: 03-5472-7608)
 
Matsushita Announces Reorganization of Domestic
Systems Sales Companies
 
Matsushita Electric Industrial Co., Ltd. (MEI [NYSE and PCX symbol: MC]) announced that its Board of Directors today resolved to integrate its 14 domestic systems sales subsidiaries into two companies, which will be responsible for domestic systems sales business and fixed-line communications business, respectively. This reorganization, scheduled to take effect on April 1, 2003, is in line with MEI’s groupwide business and organizational restructuring currently underway, aimed at integrating R&D, manufacturing and sales by each business domain, such as the system solutions business domain and the fixed-line communications business domain in this case. As a result of this integration, 12 domestic systems sales subsidiaries will be dissolved, subject to approval by shareholders of the relevant companies.
 
The details of the reorganization are as follows:
 
On April 1, 2003, the AVC business of 13 system sales subsidiaries located throughout Japan will be transferred to Tokyo Matsushita System Co., Ltd. (Tokyo Matsushita System), also a subsidiary of MEI. Upon such transfer, Tokyo Matsushita System will be reorganized under a new name “Panasonic Systems Solutions Marketing Co., Ltd.” (tentative name), as a new sales company of Panasonic System Solutions Company*, an internal divisional company of MEI. Panasonic Systems Solutions Marketing will be responsible mainly for sales of AVC systems, and related services and engineering.
 
*
 
Panasonic System Solutions Company will be established as a new internal divisional company (domain company) of MEI on January 1, 2003, as previously announced on October 30, 2002 in the press release “Matsushita Announces Specifics of New Group Units.”
 
Also on April 1, 2003, the fixed-line communications business of 13 domestic systems sales subsidiaries will be transferred to Kanto Matsushita System Co., Ltd. (Kanto Matsushita System), a subsidiary of MEI. At the time of the transfer, MEI will sell all shares of Kanto Matsushita System to Panasonic Communications Co., Ltd.*, also a subsidiary of MEI.

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At the same time, Kanto Matsushita System will be reorganized under a new name “Panasonic CS Co., Ltd.” (tentative name), as a new sales company of Panasonic Communications Co., Ltd. Panasonic CS will be responsible mainly for sales of fixed-line communications equipment, and related services and engineering.
 
*
 
Panasonic Communications Co., Ltd. will be established as a new subsidiary (domain company) of MEI on January 1, 2003, as previously announced on October 30, 2002 in the press release “Matsushita Announces Specifics of New Group Units.”
 
Following the aforementioned business transfers, closing/liquidation procedures for 12 of the current domestic systems sales subsidiaries will be implemented, subject to approval at each company’s general meeting of shareholders, to be held in or after May 2003.
 
These business transfers and closings will have no material adverse effect on MEI’s consolidated, or parent-alone financial position or performance.
 
The specifics of the two new companies to be formed as a result of the business transfers are as follows:
 
Panasonic Systems Solutions Marketing Co., Ltd. (tentative name)
 
Principal Office
  
Minato-ku, Tokyo, Japan
Name of Original Organization
  
Tokyo Matsushita System Co., Ltd.
Date of Incorporation (planned)
  
April 1, 2003
Capital Stock (planned)
  
65 million yen
Principal Lines of Business
  
Sale of AVC equipment and merchandise, and related services and engineering
Financial Closing Date
  
March 31
 
Panasonic CS Co., Ltd. (tentative name)
 
Principal Office
  
Meguro-ku, Tokyo, Japan
Name of Original Organization
  
Kanto Matsushita System Co., Ltd.
Date of Incorporation (planned)
  
April 1, 2003
Capital Stock (planned)
  
30 million yen
Principal Lines of Business
  
Sale of fixed-line communications equipment and merchandise, and related services and engineering
Financial Closing Date
  
March 31
 

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<Reference>
 
Information about the 12 companies scheduled to be closed
 
1. Hokkaido Matsushita System Co., Ltd. (as of September 30, 2002)
 
Trade Name
  
Hokkaido Matsushita System Co., Ltd.
Representative
  
Ikuo Nishihara, President
Principal Office
  
Sapporo, Japan
Date of Incorporation
  
July 21, 1959
Principal Lines of Business
  
Sales of AVC and fixed-line communications equipment and merchandise, and related services and engineering
Capital Stock
  
40 million yen
Financial Closing Date
  
March 31
No. of Employees
  
114
Shares Issued
  
80,000
Shareholders’ Equity
  
-219 million yen
Total Assets
  
1,689 million yen
Major Shareholders and Shareholdings
  
MEI 83.80%
 
Financial results for the most recent three fiscal years
 
(in millions of yen, except per share amounts; amounts less than one million yen are truncated, same hereinafter)
 
Fiscal Year ended
     
    2000/3    
   
2001/3
     
    2002/3    
  
Net Sales
     
9,630
   
7,920
     
7,197
 
Recurring Profit (Loss)
     
58
   
75
     
(194
)
Net Income (Loss)
     
52
   
26
     
(241
)
Net Income (Loss) per Share (in yen)
     
653
   
332
     
(3,023
)
Annual Dividends per Share (in yen)
     
0
   
0
     
0
 
Shareholders’ Equity per Share (in yen)
     
-5,192
   
508
     
-2,515
 
 
2. Tohoku Matsushita System Co., Ltd. (as of September 30, 2002)
 
Trade Name
  
Tohoku Matsushita System Co., Ltd.
Representative
  
Yoshio Takahashi, President
Principal Office
  
Sendai, Japan
Date of Incorporation
  
November 1, 1994
Principal Lines of Business
  
Sales of AVC and fixed-line communications equipment and merchandise, and related services and engineering
Capital Stock
  
80 million yen
Financial Closing Date
  
March 31
No. of Employees
  
173
Shares Issued
  
3,000
Shareholders’ Equity
  
48 million yen
Total Assets
  
2,428 million yen
Major Shareholders and Shareholdings
  
MEI 100%
 

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Financial results for the most recent three fiscal years
 
Fiscal Year ended
   
2000/3
     
2001/3
       
2002/3
  
Net Sales
   
6,333
     
6,221
 
     
6,533
 
Recurring Profit
   
50
     
12
 
     
65
 
Net Income (Loss)
   
5
     
(7
)
     
(73
)
Net Income (Loss) per Share (in yen)
   
5,601
     
(7,034
)
     
(73,703
)
Annual Dividends per Share (in yen)
   
0
     
0
 
     
0
 
Shareholders’ Equity per Share (in yen)
   
132,572
     
182,367
 
     
108,663
 
 
3. Niigata Matsushita System Co., Ltd. (as of September 30, 2002)
 
Trade Name
  
Niigata Matsushita System Co., Ltd.
Representative
  
Densaku Ueguri, President
Principal Office
  
Niigata, Japan
Date of Incorporation
  
February 21, 1981
Principal Lines of Business
  
Sales of AVC and fixed-line communications equipment and merchandise, and related services and engineering
Capital Stock
  
20 million yen
Financial Closing Date
  
March 31
No. of Employees
  
64
Shares Issued
  
40,000
Shareholders’ Equity
  
379 million yen
Total Assets
  
1,249 million yen
Major Shareholders and Shareholdings
  
MEI 51.20%
 
Financial results for the most recent three fiscal years
 
Fiscal Year ended
   
2000/3
     
2001/3
     
2002/3
  
Net Sales
   
5,069
     
5,952
     
5,384
 
Recurring Profit
   
22
     
81
     
98
 
Net Income (Loss)
   
27
     
32
     
(53
)
Net Income (Loss) per Share (in yen)
   
692
     
822
     
(1,331
)
Annual Dividends per Share (in yen)
   
50
     
50
     
25
 
Shareholders’ Equity per Share (in yen)
   
5,901
     
9,150
     
7,793
 
 
4. Kanagawa Matsushita System Co., Ltd. (as of September 30, 2002)
 
Trade Name
  
Kanagawa Matsushita System Co., Ltd.
Representative
  
Kiyoshi Hiratsuka, President
Principal Office
  
Yokohama, Japan
Date of Incorporation
  
December 1, 1995
Principal Lines of Business
  
Sales of AVC and fixed-line communications equipment and merchandise, and related services and engineering
Capital Stock
  
40 million yen
Financial Closing Date
  
March 31
 

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No. of Employees
  
94
Shares Issued
  
800
Shareholders’ Equity
  
197 million yen
Total Assets
  
1,255 million yen
Major Shareholders and Shareholdings
  
MEI 100%
 
Financial results for the most recent three fiscal years
 
Fiscal Year ended
   
2000/3
       
2001/3
     
2002/3
Net Sales
   
5,829
 
     
6,646
     
6,920
Recurring Profit
   
0
 
     
38
     
34
Net Income (Loss)
   
(8
)
     
19
     
16
Net Income (Loss) per Share (in yen)
   
(10,278
)
     
24,522
     
20,938
Annual Dividends per Share (in yen)
   
0
 
     
0
     
0
Shareholders’ Equity per Share (in yen)
   
183,959
 
     
228,012
     
248,950
 
5. Chubu Matsushita System Co., Ltd. (as of September 30, 2002)
 
Trade Name
  
Chubu Matsushita System Co., Ltd.
Representative
  
Yasuo Matsubara, President
Principal Office
  
Nagoya, Japan
Date of Incorporation
  
October 1, 1989
Principal Lines of Business
  
Sales of AVC and fixed-line communications equipment and merchandise, and related services and engineering
Capital Stock
  
130 million yen
Financial Closing Date
  
March 31
No. of Employees
  
271
Shares Issued
  
260,000
Shareholders’ Equity
  
642 million yen
Total Assets
  
3,700 million yen
Major Shareholders and Shareholdings
  
MEI 69.80%
 
Financial results for the most recent three fiscal years
 
Fiscal Year ended
   
2000/3
     
2001/3
     
2002/3
  
Net Sales
   
20,353
     
19,414
     
12,896
 
Recurring Profit
   
104
     
187
     
55
 
Net Income (Loss)
   
68
     
103
     
(128
)
Net Income (Loss) per Share (in yen)
   
264
     
398
     
(495
)
Annual Dividends per Share (in yen)
   
50
     
50
     
0
 
Shareholders’ Equity per Share (in yen)
   
2,142
     
3,134
     
2,639
 
 

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6. Kansai Matsushita System Co., Ltd. (as of September 30, 2002)
 
Trade Name
  
Kansai Matsushita System Co., Ltd.
Representative
  
Teruaki Nakayama, President
Principal Office
  
Osaka, Japan
Date of Incorporation
  
October 1, 1989
Principal Lines of Business
  
Sales of AVC and fixed-line communications equipment and merchandise, and related services and engineering
Capital Stock
  
100 million yen
Financial Closing Date
  
March 31
No. of Employees
  
559
Shares Issued
  
200,000
Shareholders’ Equity
  
2,500 million yen
Total Assets
  
10,527 million yen
Major Shareholders and Shareholdings
  
MEI 56.40%
 
Financial results for the most recent three fiscal years
 
Fiscal Year ended
   
2000/3
     
2001/3
     
2002/3
  
Net Sales
   
34,919
     
38,629
     
34,436
 
Recurring Profit (Loss)
   
106
     
257
     
(236
)
Net Income (Loss)
   
45
     
132
     
(664
)
Net Income (Loss) per Share (in yen)
   
226
     
664
     
(3,322
)
Annual Dividends per Share (in yen)
   
75
     
75
     
50
 
Shareholders’ Equity per Share (in yen)
   
12,539
     
17,319
     
13,947
 
 
7. Chugoku Matsushita System Co., Ltd. (as of September 30, 2002)
 
Trade Name
  
Chugoku Matsushita System Co., Ltd.
Representative
  
Kazushige Hirade, President
Principal Office
  
Hiroshima, Japan
Date of Incorporation
  
April 1, 1990
Principal Lines of Business
  
Sales of AVC and fixed-line communications equipment and merchandise, and related services and engineering
Capital Stock
  
100 million yen
Financial Closing Date
  
March 31
No. of Employees
  
148
Shares Issued
  
200,000
Shareholders’ Equity
  
133 million yen
Total Assets
  
1,545 million yen
Major Shareholders and Shareholdings
  
MEI 78.50%
 

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Financial results for the most recent three fiscal years
 
Fiscal Year ended
   
2000/3
     
2001/3
     
2002/3
  
Net Sales
   
11,246
     
9,887
     
7,951
 
Recurring Profit (Loss)
   
71
     
15
     
(72
)
Net Income (Loss)
   
40
     
1
     
(225
)
Net Income (Loss) per Share (in yen)
   
202
     
6
     
(1,129
)
Annual Dividends per Share (in yen)
   
0
     
0
     
0
 
Shareholders’ Equity per Share (in yen)
   
1,987
     
2,626
     
1,496
 
 
8. Shikoku Matsushita System Co., Ltd. (as of September 30, 2002)
 
Trade Name
  
Shikoku Matsushita System Co., Ltd.
Representative
  
Hajime Furuno, President
Principal Office
  
Takamatsu, Japan
Date of Incorporation
  
January 22, 1973
Principal Lines of Business
  
Sales of AVC and fixed-line communications equipment and merchandise, and related services and engineering
Capital Stock
  
50 million yen
Financial Closing Date
  
March 31
No. of Employees
  
86
Shares Issued
  
100,000
Shareholders’ Equity
  
-238 million yen
Total Assets
  
1,372 million yen
Major Shareholders and Shareholdings
  
MEI 100%
 
Financial results for the most recent three fiscal years
 
Fiscal Year ended
     
    2000/3    
     
2001/3
     
    2002/3    
  
Net Sales
     
7,905
     
7,686
     
6,667
 
Recurring Profit (Loss)
     
41
     
73
     
(26
)
Net Income (Loss)
     
0
     
32
     
(300
)
Net Income (Loss) per Share (in yen)
     
0
     
321
     
(3,005
)
Annual Dividends per Share (in yen)
     
0
     
0
     
0
 
Shareholders’ Equity per Share (in yen)
     
-2,250
     
692
     
-2,312
 
 
9. Kyushu Matsushita System Co., Ltd. (as of September 30, 2002)
 
Trade Name
  
Kyushu Matsushita System Co., Ltd.
Representative
  
Hiroyuki Kazao, President
Principal Office
  
Fukuoka, Japan
Date of Incorporation
  
June 1, 1989
Principal Lines of Business
  
Sales of AVC and fixed-line communications equipment and merchandise, and related services and engineering
Capital Stock
  
100 million yen
Financial Closing Date
  
March 31
No. of Employees
  
333
 
 

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Shares Issued
  
200,000
Shareholders’ Equity
  
-663 million yen
Total Assets
  
4,149 million yen
Major Shareholders and Shareholdings
  
MEI 81.70%
 
Financial results for the most recent three fiscal years
 
Fiscal Year ended
   
2000/3
     
2001/3
       
    2002/3    
  
Net Sales
   
19,488
     
17,828
 
     
15,896
 
Recurring Profit (Loss)
   
378
     
11
 
     
(411
)
Net Income (Loss)
   
305
     
(107
)
     
(674
)
Net Income (Loss) per Share (in yen)
   
1,527
     
(537
)
     
(3,373
)
Annual Dividends per Share (in yen)
   
0
     
0
 
     
0
 
Shareholders’ Equity per Share (in yen)
   
608
     
1,153
 
     
-2,220
 
 
10. Shizuoka Matsushita System Co., Ltd. (as of September 30, 2002)
 
Trade Name
  
Shizuoka Matsushita System Co., Ltd.
Representative
  
Takatoshi Hanzaki, President
Principal Office
  
Shizuoka, Japan
Date of Incorporation
  
April 1, 1995
Principal Lines of Business
  
Sales of AVC and fixed-line communications equipment and merchandise, and related services and engineering
Capital Stock
  
30 million yen
Financial Closing Date
  
March 31
No. of Employees
  
105
Shares Issued
  
600
Shareholders’ Equity
  
228 million yen
Total Assets
  
1,224 million yen
Major Shareholders and Shareholdings
  
Chubu Matsushita System Co., Ltd. 100%
 
Financial results for the most recent three fiscal years
 
Fiscal Year ended
   
2000/3
     
2001/3
     
2002/3
  
Net Sales
   
10,857
     
10,007
     
10,074
 
Recurring Profit
   
65
     
80
     
75
 
Net Income (Loss)
   
18
     
42
     
(85
)
Net Income (Loss) per Share (in yen)
   
30,490
     
71,643
     
(142,064
)
Annual Dividends per Share (in yen)
   
5,000
     
5,000
     
0
 
Shareholders’ Equity per Share (in yen)
   
291,621
     
451,537
     
309,472
 
 
11. Nagano Matsushita System Co., Ltd. (as of September 30, 2002)
 
Trade Name
  
Nagano Matsushita System Co., Ltd.
Representative
  
Katsutaro Tsuji, President
Principal Office
  
Nagano, Japan
Date of Incorporation
  
April 1, 1995
 

Table of Contents
 
Principal Lines of Business
  
Sales of AVC and fixed-line communications equipment and merchandise, and related services and engineering
Capital Stock
  
30 million yen
Financial Closing Date
  
March 31
No. of Employees
  
51
Shares Issued
  
600
Shareholders’ Equity
  
37 million yen
Total Assets
  
507 million yen
Major Shareholders and Shareholdings
  
Chubu Matsushita System Co., Ltd. 100%
 
Financial results for the most recent three fiscal years
 
Fiscal Year ended
   
2000/3
       
2001/3
     
    2002/3    
  
Net Sales
   
3,853
 
     
4,475
     
3,828
 
Recurring Profit (Loss)
   
1
 
     
27
     
(49
)
Net Income (Loss)
   
(3
)
     
7
     
(99
)
Net Income (Loss) per Share (in yen)
   
(5,508
)
     
13,144
     
(165,485
)
Annual Dividends per Share (in yen)
   
0
 
     
0
     
0
 
Shareholders’ Equity per Share (in yen)
   
74,286
 
     
124,427
     
-41,057
 
 
12. Hokuriku Matsushita System Co., Ltd. (as of September 30, 2002)
 
Trade Name
  
Hokuriku Matsushita System Co., Ltd.
Representative
  
Nobuyuki Takashima, President
Principal Office
  
Kanazawa, Japan
Date of Incorporation
  
April 1, 1995
Principal Lines of Business
  
Sales of AVC and fixed-line communications equipment and merchandise, and related services and engineering
Capital Stock
  
30 million yen
Financial Closing Date
  
March 31
No. of Employees
  
116
Shares Issued
  
600
Shareholders’ Equity
  
-24 million yen
Total Assets
  
1,685 million yen
Major Shareholders and Shareholdings
  
Chubu Matsushita System Co., Ltd. 100%
 
Financial results for the most recent three fiscal years
 
Fiscal Year ended
   
2000/3
     
2001/3
       
2002/3
  
Net Sales
   
9,956
     
9,359
 
     
7,800
 
Recurring Profit (Loss)
   
53
     
(33
)
     
1
 
Net Income (Loss)
   
13
     
(37
)
     
(125
)
Net Income (Loss) per Share (in yen)
   
22,532
     
(62,330
)
     
(208,875
)
Annual Dividends per Share (in yen)
   
5,000
     
0
 
     
0
 
Shareholders’ Equity per Share (in yen)
   
188,807
     
305,492
 
     
96,616
 
 

Table of Contents
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 Matsushita and its group companies (the Matsushita 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 Matsushita Group in light of the information currently available to them, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause the Matsushita 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. Matsushita 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 Matsushita in its subsequent filings with the U.S. Securities and Exchange Commission pursuant to the 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 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, Asian currencies and other currencies in which the Matsushita Group operates businesses, or in which assets and liabilities of the Matsushita Group are denominated; the ability of the Matsushita 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 ability of the Matsushita Group to realize expected benefits of various restructuring activities in its business and organization, including the business divisions/combinations with subsidiaries currently in progress; the ability of the Matsushita Group to achieve its business objectives through joint ventures and other collaborative agreements with other companies; the ability of the Matsushita Group to maintain competitive strength in many product and geographical areas; any changes in the Matsushita Group’s financial and operational position or business environment due to its business restructuring; current and potential, direct and indirect trade restrictions imposed by other countries; and fluctuations in market prices of securities and other assets in which the Matsushita Group has holdings, as well as future changes or revisions to accounting policies or accounting rules.
 
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