Pioneer to Sell Shares of Its Precision Machinery Units to OMRON

Friday, March 31, 2006

Pioneer to Sell Shares of Its Precision Machinery Units to OMRON

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Pioneer today announced that it has reached a preliminary agreement with OMRON on the transfer to OMRON of Pioneer?s entire shares of Pioneer Precision Machinery Corporation.

Pioneer Precision Machinery Corporation is a Pioneer subsidiary engaged in manufacturing and marketing of high-precision parts for electronic equipment.

This transfer will help Pioneer concentrate resources on strategic business and improve management efficiency, according to the company.

The specific conditions and schedule of the sale are under discussion and will be finalized at a later date.