News Release：Pioneer Strengthens Car Audio After-market Business
Information contained in the news release is current as of the date of announcement.
It is subject to change without prior notice.
Pioneer Corporation
Pioneer Strengthens Car Audio After-market Business-- New Sales and Manufacturing Subsidiary To Start Operation --
November 25, 2003, Tokyo, Japan - Pioneer Corporation today announced that its new sales and manufacturing subsidiary company, named Pioneer do Brasil Ltda, in Brazil, will start manufacturing and sales activities of Pioneer-brand car audio products in the Brazilian after-market in December 2003.
Brazil is the largest market in Middle and South America for car audio products. The A/V car entertainment market is expected to grow rapidly there.
The new company, which has the headquarters and factory in Manaus, and the sales office in San Paulo, Brazil, will start its operations in December, 2003. It will lead to further promotion of Pioneer's car audio products in Brazil.
<Outline of the new company>
| Company name: | Pioneer do Brasil Ltda. |
| Head office: | Av. Cupiuba, 361-Distrito Industrial, CEP-69075-060, Manaus-Am., Brazil |
| Capital: | 32 million R$ (Pioneer's wholly-owned subsidiary) |
| President: | Motohiko Ishikawa |
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