News Release：Pioneer Aims to Further Strengthen Its International Operations

June 30, 2004, Tokyo, Japan - Pioneer Corporation announced today the establishment of the International Business Group, effective July 1, 2004, by unifying the International Business Division and the overseas sales divisions of the Home Entertainment Business Company's AV Business Company and the Mobile Entertainment Company.

The International Business Group will be responsible for the sales operations worldwide (except for Japan) relating to consumer electronics products.

At the same time, Pioneer announced the changes in management and change in the names of certain organizations, as follows:

<Effective June 29, 2004>

• Mr. Akira Niijima, previously Senior Managing Director and Representative Director; and in charge of Administration in general, has become Senior Managing Director and Representative Director; and in charge of Administration and Export Management in general.
• Mr. Hajime Ishizuka, previously Senior Managing Director and Representative Director, President of Home Entertainment Business Company, President of AV Business Company and General Manager of Tokorozawa Plant of Home Entertainment Business Company; and in charge of International Business Division, has become Senior Managing Director and Representative Director, President of Home Entertainment Business Company, President of AV Business Company and General Manager of Tokorozawa Plant of Home Entertainment Business Company.
• Mr. Koichi Shimizu, previously Managing Director and General Manager of Procurement Center; and in charge of Production Management and Coordination Division and of Strategic IT Division, has become Managing Director, in charge of technologies, production and quality control in general, General Manager of Procurement Center; and in charge of Strategic IT Division.

<Effective July 1, 2004>

• Mr. Kazunori Yamamoto, currently Senior Managing Executive Officer and President of Pioneer North America, Inc., will become Senior Managing Executive Officer and General Manager of International Business Group.
• Mr. Chojuro Yamamitsu, currently Executive Officer and Deputy General Manager of Research & Development Group; and in charge of Information & Communication Development Center and of PDP Development Center, will become Executive Officer and Deputy General Manager of Environmental Preservation Group (in charge of Eco Products).
• Mr. Yoichi Sato, currently Executive Officer and General Manager of Engineering Management Division of Plasma Display Business Company, will become Executive Officer and Deputy General Manager of Research & Development Group, and General Manager of PDP Development Center.
• Mr. Tsutomu Haga, currently Executive Officer and President of Pioneer Electronics (USA) Inc., will become Executive Officer and President of Pioneer North America, Inc.

<Effective June 1, 2004>

Home Entertainment Company was renamed as Home Entertainment Business Company. At the same time, AV Business Division and Device Business Division were renamed as AV Business Company and Components Business Company, respectively, both of which are under Home Entertainment Business Company.