Matsushita Announces Establishment of New Company through Business Division.

Business Wire (December 19, 2003)


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Headnotes:

Extract:

Matsushita Announces Establishment of New Company through Business Division.

Business Editors

OSAKA, Japan--(BUSINESS WIRE)--Dec. 19, 2003

Matsushita Electric Industrial Co., Ltd. (MEI (NYSE: MC)), best known for its Panasonic brand name, announced that the company has decided at its board of directors meeting held today to transfer, by means of a business division on April 1, 2004, its Internet services business to Panasonic Network Services Inc. (New Company), which will be established on the same day.

The basic terms of the business division decided today are outlined as follows:

1. Purpose of business division

By dividing the Internet services business,...



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