Progress of Mid-term Management Plan& Growth Strategy
October 31, 2014
Panasonic Corporation

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21 Achieve mid-term plan 1 year ahead of schedule
One yearahead

FY2014
results

FY2015
forecast

Operatingprofit

305.1

350(%)

3.9%

4.5%

5.0%

2-year total

3-year total(yen: billions)

Accumulated
free CF594.1

FY2016(Mid-term plan)350
or moreor more800

600

or moreor more31

Business divisions’ profitability: improving(88 BUs)

Operating profit:
5% or more

35%

0–5%

36%

Operating loss

29%FY2013(49 BDs)

42%

18 BDs39%

47%

20 BDs

20%

12%

5 BDs

FY2014FY2015(forecast)41%

Graphs show simple sum of BD’s OP, and% on each graph shows composition ratio based on the number of BDs & BUs

Copyright (C) 2014 Panasonic Corporation All Rights Reserved.

(43 BDs)

42Concentrating resources in key areas
Europe &Americas

Japan

StrategicRegions

Consumerelectronics

A

HousingBC

AutomotiveD

B2B solutions
DevicesExamples of initiatives taken in A, B, C and D introduced later

5ACE xStrategic Regions

Develop competitive products in Asia

Strengthen high-end category

Locally self-sustaining management(from fall of 2014)(from April 2015)

AP Asia
Marketing Division
About- Introduce premium models
40models(some made in Japan)- Do marketing to inspire consumers’“yearning”

Strengthenmarket competitiveness& brand capability

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ODM Division
Asia Business Unit

400 people
working ondevelopment

ODM: supplement the lineup quickly

6B

Housing x
Strategic Regions

Fully enter ASEAN market

Develop Smart Cities

Supply locally oriented houses
Competitive prices
Insulation
Ventilation
Waterproofing

ThailandVietnam

Halved lead-time

Malaysia
Kuantan (Malaysia)

Indonesia

W-PC method

Set up ASEAN Housing Business HQ in April 2015

7CAutomotive x
Europe/Americas

Lead innovation with partners

Tesla Motors

Ficosa International S.A.

Established Li-ion battery production Build a capital & business alliancecompany at “Gigafactory” in US
for electronic mirror business(October 2014)

Conceptual drawing of “Gigafactory”

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(Target: by end of FY2015)

8D

B2B solutions xJapanTokyo Olympics and Paralympics

Signed for Official Worldwide Paralympic Partnership (October 2014)
Sponsor categories

 Home appliances and power assisted bicycles will be added in 2017.
 Welfare devices, including “The Shower,” are for Paralympics only.

93Strengthen strategic growth investments
Prioritized investments

10 trillion yen scale

Consumerelectronics Overseas: Home appliances

Inorganic
growth

7.75 trillion yenHousing

Overseas: House building

Automotive Eco, comfort and safety
B2B
solutions

Existing
business

Retail & distribution,
restaurants, logistics andsocial infrastructure

FY2015 sales

FY2019 sales(forecast)(target)Copyright (C) 2014 Panasonic Corporation All Rights Reserved.

Disclaimer Regarding Forward-Looking Statements
This presentation includes forward-looking statements (that include those within the meaning of Section 21E of the U.S. Securities Exchange Act of1934) about Panasonic and its Group companies (the Panasonic Group). To the extent that statements in this presentation do not relate to historical orcurrent facts, they constitute forward-looking statements. These forward-looking statements are based on the current assumptions and beliefs of thePanasonic Group in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks,
uncertainties and other factors may cause the Panasonic Group's actual results, performance, achievements or financial position to be materiallydifferent from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. Panasonicundertakes no obligation to publicly update any forward-looking statements after the date of this presentation. Investors are advised to consult any
further disclosures by Panasonic in its subsequent filings under the Financial Instrument and Exchange Act of Japan (the FIEA) and other publiclydisclosed documents.
The risks, uncertainties and other factors referred to above include, but are not limited to, economic conditions, particularly consumer spending andcorporate capital expenditures in the Americas, Europe, Japan, China and other Asian countries; volatility in demand for electronic equipment andcomponents from business and industrial customers, as well as consumers in many product and geographical markets; the possibility that excessive
currency rate fluctuations of the U.S. dollar, the euro, the Chinese yuan and other currencies against the yen may adversely affect costs and prices ofPanasonic’s products and services and certain other transactions that are denominated in these foreign currencies; the possibility of the PanasonicGroup incurring additional costs of raising funds, because of changes in the fund raising environment; the possibility of the Panasonic Group not being
able to respond to rapid technological changes and changing consumer preferences with timely and cost-effective introductions of new products inmarkets that are highly competitive in terms of both price and technology; the possibility of not achieving expected results on the alliances or mergers
and acquisitions; the possibility of not being able to achieve its business objectives through joint ventures and other collaborative agreements with othercompanies, including due to the pressure of price reduction exceeding that which can be achieved by its effort and decrease in demand for products
from business partners which Panasonic highly depends on in BtoB business areas; the possibility of the Panasonic Group not being able to maintaincompetitive strength in many product and geographical areas; the possibility of incurring expenses resulting from any defects in products or services ofthe Panasonic Group; the possibility that the Panasonic Group may face intellectual property infringement claims by third parties; current and potential,
direct and indirect restrictions imposed by other countries over trade, manufacturing, labor and operations; fluctuations in market prices of securities
and other assets in which the Panasonic Group has holdings or changes in valuation of long-lived assets, including property, plant and equipment andgoodwill, deferred tax assets and uncertain tax positions; future changes or revisions to accounting policies or accounting rules; as well as naturaldisasters including earthquakes, prevalence of infectious diseases throughout the world, disruption of supply chain and other events that may
negatively impact business activities of the Panasonic Group. The factors listed above are not all-inclusive and further information is contained in themost recent English translated version of Panasonic’s securities reports under the FIEA and any other documents which are disclosed on its website.
In order to be consistent with generally accepted financial reporting practices in Japan, operating profit (loss) is presented in accordance withgenerally accepted accounting principles in Japan. The company believes that this is useful to investors in comparing the company's financial resultswith those of other Japanese companies. Under United States generally accepted accounting principles, expenses associated with the implementationof early retirement programs at certain domestic and overseas companies, and impairment losses on long-lived assets are usually included as part ofoperating profit (loss) in the statement of income.

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