News Release：Pioneer Corporation Creates Two New Divisional Company Units

April 1, 2003, Tokyo, Japan - Pioneer Corporation has announced the establishment effective today of two new divisional company units, the Components Business Company and the Industrial Solutions & Entertainment Company. Together with its current Home Entertainment Company and Mobile Entertainment Company, Pioneer has completed a management system to perform its core business activities using four internal companies.

The Components Business Company will be responsible for DVD-R/DVD-RW writers for PCs and other devices, and will assist in carrying out Pioneer's Vision to operate in key devices and key components based on its proprietary technologies.

The Industrial Solutions & Entertainment Company will concentrate on industrial-use systems and technologies, including PDPs and medical and DJ equipment and systems, and will increase Pioneer's presence in industrial and professional markets.

Mr. Hajime Ishizuka, senior executive officer of Pioneer, has been appointed the President of the Components Business Company. He is also responsible for Pioneer's International Business Division.
Mr. Kiyoshi Uchida, senior executive officer of Pioneer, has been appointed the President of the Industrial Solutions & Entertainment Company and the General Manager of Pioneer's Ohmori Plant.
Mr. Toshihiko Norizuki, executive officer of Pioneer, has been appointed the Vice President of the Industrial Solutions & Entertainment Company.

Pioneer Corporation is one of the leading manufacturers of consumer- and business-use electronics products, including audio, video and car electronics on a global scale. Its shares are traded on the New York Stock Exchange (ticker symbol PIO) and Euronext Amsterdam as well as the Tokyo Stock Exchange and Osaka Securities Exchange.