Panasonic to Appeal European Commission Decision on CRTs

Panasonic Corporation

announced today that Panasonic and its subsidiary MT Picture Display Co., Ltd. ("MTPD") have decided to appeal to the European General Court against the decision* adopted by the European Commission on December 5, 2012, because Panasonic believes this decision is factually and legally erroneous as it applies to Panasonic and MTPD. Panasonic and MTPD have already exited the CRT business, but will be stating their arguments at court and seeking fair judgment. * The European Commission has issued a decision finding that a number of companies, including Panasonic and MTPD, previously participated in an agreement to restrict competition in the sale of Cathode Ray Tubes for