Matsushita to Establish New Company Jul 30, 2003

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Matsushita Electric Industrial Co., Ltd. (MEI) announced that it has decided at its board of directors meeting to transfer its audiovisual (AV) sensor module business to a new company, Panasonic SC Device Solutions Co., Ltd. The AV sensor module business, currently part of the Component Device Division of MEI's internal divisional company Panasonic System Solutions Company (PSS), is scheduled to be transferred on Oct. 1, 2003, which is the same day the new company will be established. According to MEI, the new company will be an independent company in the Semiconductor Company group. The Semiconductor Company is also an internal divisional company of MEI.

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