SANYO HIT® Solar Modules to Become "Panasonic HIT®"

SAN JOSE, Calif., Dec. 12, 2011 /PRNewswire/ -- SANYO North America Corporation (SANYO), a subsidiary of SANYO Electric Co., Ltd., announces that as of April 1, 2012, the branding of its HIT^®*[1] solar modules will change from "SANYO" to "Panasonic." SANYO's solar modules are recognized in North America for their power generated per square foot performance.

Unifying the solar brand is part of a wider scheme of consolidation of brands of certain products currently being carried out by the Panasonic Group in order to take advantage of the strengths of each company within the group. Combining SANYO's solar technical capabilities with Panasonic's wide global network will allow further synergy to be generated within the group and strengthen the solar business globally.

"The brand change is part of the global strategy aimed at expanding the solar business of the Panasonic Group," said Charles Hanasaki, president of the Solar & Smart Energy Division. "The same manufacturing and sales structure will continue as well as its advanced HIT^® solar modules, just under the Panasonic brand. Additionally, the Panasonic Group will continue to invest in the solar business, allowing us to offer a higher level of service to our business partners and provide our customers with higher quality, more efficient modules."

SANYO, responsible for key areas in the energy sector of the Panasonic Group, aims to combine environmental contribution and business growth and create a company with significant growth potential, in order to realize Panasonic's 100 year anniversary vision of becoming the "No. 1 Green Innovation Company in the Electronics Industry" by 2018.

About the SANYO Solar Business and HIT^® Solar Modules

Starting in 1975 with the development of amorphous silicon solar cells, SANYO has more than 35 years of history in the solar industry. Since that time, SANYO has continued to carry out leading research and development for solar cells, and has developed further technical abilities and gained experience as it has had its panels installed in a large number of PV systems around the world, especially in the public and industrial markets.

More recently, in 1997, SANYO released its HIT^® solar modules; HIT ^® stands for heterojunction with intrinsic thin-layer, and the solar cells used are a hybrid with a unique structure comprised of a thin mono-crystalline silicon wafer surrounded by ultra-thin amorphous silicon layers. HIT^® solar modules are known for their high conversion efficiency and excellent temperature characteristics, allowing HIT^® modules to generate more power throughout the year, even during peak summer months, compared to other types of crystalline modules.

About Panasonic

Panasonic Corporation is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated net sales of 8.69 trillion yen (US$105 billion) for the year ended March 31, 2011. The company's shares are listed on the Tokyo, Osaka, Nagoya and New York (NYSE:PC) stock exchanges. For more information on the company and the Panasonic brand, visit the company's website at http://panasonic.net/.

About SANYO

SANYO Electric Co., Ltd., a wholly-owned subsidiary of Panasonic Corporation, is a global company with leading energy and environmental technology and products for commercial and consumer use. Solar & Smart Energy, a division of SANYO North America Corporation (a subsidiary of SANYO Electric Co., Ltd.), is based in Cupertino, California, and handles sales and services for photovoltaic and Smart Energy Systems. For further information, please visit SANYO's web site at http://us.SANYO.com.

*[1] The name "HIT^®" comes from "Heterojunction with Intrinsic Thin-layer."

SOURCE SANYO North America Corporation