Panasonic Manufacturing Philippines Corporation (PMPC) was originally established on May 14, 1963 under the name Festival Manufacturing Corporation. PMPC is a subsidiary of Matsushita Electric Industrial Co., Ltd. in Japan. On December 8, 2004, the company's name was changed to its present name. PMPC is a manufacturer, importer and distributor of electronic, electrical, mechanical, electro-mechanical appliances, other types of machinery, parts and components, battery and other related products bearing the "Panasonic" brand. The primary products of PMPC are refrigerators, air conditioners, television sets and washing machines. Other products of PMPC include batteries and flashlights, electric fans, freezers, digital AV products, communications equipment and devices, office automation equipment, cooling equipment, and various kitchen and home appliances. PMPC holds 40% ownership interest in the Precision Electronics Realty Corporation, which is engaged in the business of realty brokerage. Source: SEC Form 17-A (2008)