Tokyo, Jan 16, 2009 - (JCN Newswire) - Panasonic Corporation and Toyota Motor Corporation announced today the conclusion of a contract that will see Panasonic continue as the title sponsor for the Toyota Formula 1 team, Panasonic Toyota Racing.

This renewed agreement means that the current title sponsorship contract, which expires at the end of 2009, will be extended by three years to run from 2010 through to 2012 - the 10-year anniversary of Toyota's Formula 1 debut.

Tadashi Yamashina, Senior Managing Director for Motorsports at Toyota Motor Corporation and Team Principal for Panasonic Toyota Racing, said: "I would like to extend my deepest thanks to Panasonic Corporation for continuing as our title sponsor, despite the particularly harsh economic climate. The team will redouble its efforts this year in order to achieve its long-sought-after first victory."

About Panasonic

<BR /><BR />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 9.07 trillion yen (US$90.7 billion) for the year ended March 31, 2008. The company's shares are listed on the Tokyo, Osaka, Nagoya and New York (NYSE Symbol: PC) stock exchanges. For more information on the company and the Panasonic brand, visit the company's website at http://panasonic.net/ .

About Toyota

<BR /><BR />Established in 1937, Toyota Motor Corporation (TSE: 7203; NYSE: TM), which celebrates its 70th anniversary this year, has developed into one of the world's best known automobile manufacturers. The Toyota Group sold over 8.5 million vehicles under the Toyota, Lexus, Daihatsu, and Hino brands in more than 170 countries and regions in fiscal 2007. Further, the Company's production is firmly rooted in local communities, with 52 companies manufacturing vehicles and parts in 26 countries and regions. Toyota had approximately 300,000 employees on a consolidated basis at the end of fiscal 2007. The company is headquartered in Aichi, Japan. For more information, please visit www.toyota.co.jp/en/index.html .

Contact:

Media Contacts for Panasonic:
Akira Kadota, 
International PR, Panasonic Corporation
Tel: +81-3-3578-1237 
Fax: +81-3-3436-6766

Panasonic News Bureau
Tel: +81-3-3542-6205 
Fax: +81-3-3542-9018

Media Contact for Toyota:
Koichi Nakata, 
Motorsport Business Management Department, 
Toyota Motor Corporation
Tel: +81-3-3817-9338 
Fax: +81-3-3817-9023

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