Panasonic announces appeal against EC decision on CRTs for TVs

JAPAN: Panasonic Corp. announced that Panasonic and its subsidiary MT Picture Display Co. Ltd have decided to appeal to the European General Court against the decision* adopted by the European Commission on December 5, 2012, because Panasonic believes this decision is factually and legally erroneous as it applies to Panasonic and MTPD.

Panasonic and MTPD have already exited the CRT business, but will be stating their arguments at court and seeking fair judgment.

 The European Commission has issued a decision finding that a number of companies, including Panasonic and MTPD, previously participated in an agreement to restrict competition in the sale of Cathode Ray Tubes for televisions sold in Europe in violation of EU competition law.

The fines imposed by European Commission relevant to Panasonic and MTPD are as follows:

- Panasonic: €157,478,000
- Panasonic and MTPD, jointly and severally liable: €7,885,000
- Panasonic, MTPD and Toshiba Corporation, jointly and severally liable: €86,738,000.