A newsbrief announcing that Olympia Büromachinen Werke AG in West Germany has established an agreement with Matsushita Communication Industrial Co., Ltd. for Matsushita to design and manufacture an electronic calculator for Olympia to sell in its market. That calculator, based on Matsushita- manufactured TTL integrated circuits backed by a magnetostrictive delay line, also manufactured by Matsushita, was marketed by Olympia as the ICR-412. The article mentions that Matsushita had no plans of marketing electronic calculators on its own, but either that information was incorrect at the time it was published, or Matsushita later decided to market the calculator in Japan under its "National" brand name as the National PANAC-12. The packaging of the PANAC-12 was quite different than that of the Olympia ICR-412, with the PANAC-12 housed in a quite fancy metal cabinet with lots of chrome brightwork, while the Olympia ICR-412's electronics were housed in a high-quality plastic cabinet, consistent with Olympia's earlier in-house developed electronic calculators such as the Olympia RAE 4/30-2. This agreement marked the beginning of a phase-down of Olympia's own internal calculator development and manufacturing, with the company eventually sourcing all of the calculators it marketed through OEM agreements with other calcualtor manufacturers.