Panasonic May Appeal European CRT Fines Dec 17, 2012

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The European Commission has found that a number of companies, including Panasonic Corp. (Osaka) and its subsidiary MT Picture Display Company, participated in an agreement to restrict competition of TV cathode ray tubes sold in Europe.

Panasonic and MTPD have already left the CRT business. Panasonic believes the European Commission decision, as it applies to Panasonic and MTPD, is factually and legally erroneous. Panasonic is considering its options for appeal to the European courts.

The fines imposed by European Commission on Panasonic are:
* Panasonic: EURO 157,478,000
* Panasonic and MTPD, jointly and severally liable: EURO 7,885,000
* Panasonic, MTPD, and Toshiba Corp., jointly and severally liable: EURO 86,738,000

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