News Release：Pioneer Aims to Further Strengthen Its Plasma Display Business

March 30, 2004, Tokyo, Japan - Pioneer Corporation announced today the establishment of the Plasma Display Business Company as a new internal divisional company and the reorganization of its Home Entertainment Company, effective April 1, 2004.

The Plasma Display Business Company will responsible for the operations relating to its plasma display (planning, engineering and OEM sales), which were previously conducted by the Home Entertainment Company, in order to further strengthen and expand the plasma display business.

The Home Entertainment Company will merge all operations of the Components Business Company and reorganize its operations into the Consumer Audio/Video Products and Device Solutions.

With these changes, Pioneer will focus on its core businesses through a total of four internal divisional companies: Home Entertainment Company, Plasma Display Business Company, Mobile Entertainment Company, and Industrial Solutions & Entertainment Company.

At the same time, Pioneer announced the changes in management, effective April 1, 2004, as follows:

• Mr. Akira Niijima, currently Senior Managing Director and President of the Home Entertainment Company, will become Senior Managing Director and in charge of Administration.
• Mr. Hajime Ishizuka, currently Director and President of the Components Business Company and in charge of International Business Division, will become Director and President of the Home Entertainment Company, and General Managers of Device Solutions Division, Consumer Audio/Video Products Division and Tokorozawa Plant of the Home Entertainment Company; and in charge of International Business Division.
• Mr. Masaru Saotome, currently Senior Managing Executive Officer, Vice President of the Home Entertainment Company (in charge of sales) and General Manager of Display Business Division of the Home Entertainment Company, will become Senior Managing Executive Officer and President of the Plasma Display Business Company.
• Mr. Tadahiro Yamaguchi, currently Managing Director and Executive Vice President of the Home Entertainment Company (in charge of technology, production and quality control); in charge of Cable Satellite Systems Division, and General Manager of Tokorozawa Plant of the Home Entertainment Company, will become Managing Director, Executive Vice President of the Plasma Display Business Company (in charge of technology and production) and General Manager of the Ohmori Plant.
• Mr. Kiyoshi Uchida, currently Senior Executive Officer, President of the Industrial Solutions & Entertainment Company and General Manager of the Ohmori Plant, will become Senior Executive Officer and President of the Industrial Solutions & Entertainment Company.
• Mr. Shungo Minato, currently Senior Executive Officer and in charge of Corporate Planning Division, General Administration Division and Personnel Division, will become Vice President of Pioneer Service Network Corporation.
• Mr. Takeo Tanabe, currently Vice President of Pioneer Display Products Corporation, will become President of Pioneer Display Products Corporation.
• Mr. Fusao Murakami, currently President of Pioneer Display Products Corporation, will become Director of Pioneer Display Products Corporation.