Panasonic Holdings to merge with wholly-owned subsidiary Panasonic Corporation

Panasonic Holdings Corporation will absorb Panasonic Corporation (PC), a consolidated subsidiary, in a simplified absorption-type merger, effective April 1, 2026. This reorganization aims to dissolve PC following the establishment of three new operating companies: Panasonic HVAC & CC Co., Ltd., Panasonic Electric Works Co., Ltd., and a new Panasonic Corporation (inheriting Panasonic Entertainment & Communication Co., Ltd.). These will succeed PC's main businesses through a company split on April 1, 2026.

As a simplified merger involving a wholly-owned subsidiary, no allotment of shares or other consideration will be exchanged. Both companies' boards of directors resolved the merger on November 27, 2025, and the merger agreement was executed the same day. Shareholder meetings for approval will not be held.

The merger is expected to have a minimal impact on Panasonic Holdings Corporation's consolidated financial outlook for the fiscal year ending March 31, 2026. For the fiscal year ended March 31, 2025, Panasonic Holdings Corporation reported net sales of JPY 8,458,185 million, while PC reported JPY 1,322,802 million.