The new $300,000 lease was structured to end in 28 months, the same time as the rest of its leasehold. Port spokesperson Maureen Chan-Hefflin did not say whether negotiations were underway for a renewal.

Matsushita Kotobuki Electronics makes a variety of electronic goods and parts, including TVs, VCRs, TV/DVD/VCR combination units, camcorders, heating equipment, LCD projectors, and digital cameras. It is also a leading manufacturer of hard disk, CD-ROM, and DVD-ROM drives. Matsushita Kotobuki is a contract manufacturing subsidiary of consumer electronics giant Matsushita Electric Industrial (Panasonic).

The company has been at the port since the mid 1980s, where it produces the TV/DVD/VCR combination units. In the fall of 2000, after several expansions had multiple leases in play, a new consolidated five-year extension lease was drawn up. The new building is adjacent to MKA's existing lease area.