Panasonic : Completion of transfer of power tools business

About this update from Panasonic Holdings Corporation

Osaka, Japan, September 1, 2026 - Panasonic Electric Works Co., Ltd. (the Company) and Makita Corporation (Makita) have completed all required closing procedures as of today, September 1, 2026, with respect to the share transfer agreement of the Company's power tools business (the Business) agreed on March 24, 2026. Upon completion of the closing, all assets, contracts, employees, and other items necessary for the operation of the Business have been transferred to a newly established successor company* incorporated by the Company in April, and all issued shares of the successor company have been transferred to Makita. In addition, certain manufacturing and sales functions related to the Business held by Panasonic Group's overseas companies have been transferred to Makita's subsidiaries. The Company will continue to increase strategic focus on its solutions business centered on electrical equipment and digital technologies. *The successor company was named NEXRA Field Works Co., Ltd. Following the transfer to Makita and upon completion of the required procedures, it has changed its trade name to Makita Industrial Tools Corporation as of today. 【Overview of Panasonic Electric Works Co., Ltd.】 Company Name: Panasonic Electric Works Co., Ltd. Head Office: 1048, Kadoma, Osaka, Japan/1-5-1 Higashi-Shimbashi, Minato-ku, Tokyo Representative Director: Kiyoshi Otaki, Representative Director, President & Chief Executive Officer Business Overview: Production and sales of electrical equipment, lighting products, energy-related devices, and solutions for buildings 【Overview of Makita Corporation】 Company Name: Makita Corporation Head Office: 3-11-8, Sumiyoshi-cho, Anjo, Aichi, Japan Representative Director: Munetoshi Goto, President Business Overview: Production and sales of electric power tools, gardening equipment, pneumatic tools and household equipment. About the Panasonic Group Founded in 1918, the Panasonic Group is a global leader developing innovative technologies and solutions with wide-ranging applications in the consumer electronics, devices, B2B solutions, heating and cooling, electrical equipment and lighting, and energy sectors worldwide. The Panasonic Group consists of Panasonic Holdings Corporation, seven operating companies and affiliates both within Japan and overseas. Panasonic Holdings Corporation reported consolidated net sales of 8,048.7 billion yen for the year ended March 31, 2026. To learn more about the Panasonic Group, please visit: https://holdings.panasonic/global/ The content in this website is accurate at the time of publication but may be subject to change without notice. Please note therefore that these documents may not always contain the most up-to-date information. Please note that German, Spanish and Chinese versions are machine translations, so the quality and accuracy may vary. Issued: Panasonic Electric Works Co., Ltd. Category: Management/Financials

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