Pioneer Announces Completion of International Share Offering and Change in Major Shareholders

  Tokyo, Mar 2, 2010 - (JCN Newswire) - Pioneer Corporation (hereinafter & quot;Pioneer & quot;) announced today that the payment for the new shares issued through the international offering (the & quot;International Offering & quot;), the third-party allotment to Mitsubishi Electric Corporation (the & quot;Third-party Allotment to Mitsubishi Electric & quot;) and the third-party allotment to Mitsubishi Chemical Corporation (the & quot;Third-party Allotment to Mitsubishi Chemical & quot;; together with the International Offering and the Third-party Allotment to Mitsubishi Electric, hereinafter, collectively, the & quot;Issuance of New Shares & quot;), pursuant to the resolution by the board of directors of Pioneer adopted at its meeting held on February 9, 2010, was completed today as originally scheduled. In addition, as a result of the Issuance of New Shares, there was a change in Pioneer's major shareholders as of today. Details are provided below.  

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