Pioneer and Sharp Optical Disk Joint Venture Delayed

Pioneer Corporation and Sharp Corporation have decided to change the launch date of their optical disk joint venture, due to ongoing assessments to determine whether the joint venture conforms to antitrust laws overseas.

Pioneer and Sharp had signed a formal contract for the establishment of the optical disk joint venture on June 25, 2009 and were preparing to launch operations of that joint venture on October 1, 2009.

All other procedures regarding the joint venture are as scheduled. Therefore the two companies will start the joint venture as soon as possible, after taking all necessary procedures and actions related to antitrust laws overseas.