OREANDA-NEWS. Panasonic Corporation announced that Panasonic and its subsidiary, SANYO Electric Co. Ltd., (“SANYO”) have entered into plea agreements with the United States Department of Justice (“DOJ”), agreeing to pay fines to resolve claims that they violated the U.S. antitrust laws.

1. Plea agreement with the DOJ regarding certain automotive components Panasonic agreed to pay USD 45.8 million in fines to resolve claims that it violated the U.S. antitrust laws in connection with the sale of certain automotive components (specifically, steering wheel switches, wiper switches, combination switches, door courtesy switches, turn switches, steering angle sensors, and HID ballasts) for certain customers.

2. Plea agreement with the DOJ regarding cylindrical lithium ion battery cells used in notebook computer battery packs SANYO agreed to pay \\$10.731 million in fines to resolve claims that it violated the U.S. antitrust laws in connection with the sale of cylindrical lithium ion battery cells used in notebook computer battery packs. Both companies have cooperated with the investigations by the DOJ, and they decided to enter into plea agreements described above, upon overall consideration of applicable laws, relevant facts and other factors.

There will be no material effect on the consolidated financial outlook for the fiscal year ending March 31, 2014 as a result of these payments. In addition, in recognition of the importance of these matters, certain of Panasonic’s directors and executive officers, including the chairman and president, voluntarily returned 20 to 10 percent of their compensation for April 2013.

Panasonic Group takes this matter seriously and has taken steps to strengthen its compliance programs. It is the policy of all companies within Panasonic Group to comply with all applicable laws and regulations, including the U.S. antitrust laws.