Funai Electric Co., Ltd. (headquarters: Daito, Osaka; hereinafter, the "Company") hereby provides notice that the Company reached an agreement with Royal Philips Electronics (headquarters, the Netherlands; NYSE: PHG; AEX: PHIA, hereinafter, "PHILIPS") to acquire all shares (hereinafter, the "Transaction") in the company (hereinafter, the "New Company") assuming operations (hereinafter, the "Operation") of PHILIPS' Lifestyle Entertainment Business (Note).

(Note) The Lifestyle Entertainment Business involves the development and design, sales and (partial) manufacture of the following PHILIPS-brand products.
Audio Video Multimedia products 

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