Panasonic Corporation
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| Type | Public, TYO: 6752, NYSE: PC |
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| Founded | Osaka, Japan (1918) |
| Headquarters |  Kadoma, Osaka, Japan |
| Key people | Konosuke Matsushita, Founder Kunio Nakamura, Chairman, Fumio Ohtsubo, President |
| Industry | Consumer Electronics |
| Products | AVC networks, Home appliances, Components and devices, digital cameras, others |
| Market cap | $34 billion USD (2008)[1] |
| Revenue | ▼9,068,930 Million Yen (US$86.2 billion) (Fiscal year ended March 31, 2008)[2] |
| Operating income | ▲519,481 Million Yen (US$4.9 billion) (Fiscal year ended March 31, 2008) |
| Net income | ▼434,993 Million Yen (US$4.1 billion) (Fiscal year ended March 31, 2008) |
| Employees | ▼328,645 (Consolidated, as of March 31, 2007) |
| Website | Panasonic Global Site |
Panasonic Corporation (パナソニック株式会社 Panasonikku Kabushiki-gaisha?) (TYO: 6752 NYSE: PC), formerly known as Matsushita Electric Industrial Co., Ltd., is a multinational corporation based in Kadoma, Japan. Its main business is in electronics manufacturing and produces products under a variety of names including Panasonic and Technics.
Since its founding in 1918, it grew to become the largest Japanese electronics producer. In addition to electronics, Panasonic offers non-electronic products and services such as home renovation services. Panasonic was ranked the 59th largest company in the world in 2007 by the Forbes Global 500 and is among the Worldwide Top 20 Semiconductor Sales Leaders.[3]
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Name
For 90 years since establishment, the name of the company was always topped with "松下" ("Matsushita"); before the company renamed itself on October 1, 2008, the company's name was "松下電器産業株式会社" ("Matsushita Electric Industrial Co., Ltd."), which was used since 1935[4][5].
In 1927, the company founder adopted a brand name "ナショナル" ("National") for a new lamp product, knowing "national" meant "of or relating to a people, a nation."[6] In 1955, the company labeled its export audio speakers "PanaSonic", which was the first time it used its "Panasonic" brand name[7]. The company began to use a brand name "Technics" in 1965[7]. Multiple brand age lasted for some decades[7].
In May 2003, the company put "Panasonic" as its global brand, and set its global brand slogan, "Panasonic ideas for life."[8] The company began to unify its brands to "Panasonic" and, by March 2004 replaced "National" for products and outdoor signboards, except for those in Japan[8].
On January 10, 2008, the company announced that it would change its name to "Panasonic Corporation" (effective on October 1, 2008) and unify "National" in Japan to its global brand "Panasonic" (by March 2010)[9]. The name change was approved at a shareholders' meeting on June 26, 2008[10].
History
Panasonic was founded in 1918 by Konosuke Matsushita first selling duplex lamp sockets. In 1927, it produced a bicycle lamp, the first product it marketed under the brand name National. It operated factories in Japan and Asia through the end of World War II, producing electrical components and appliances such as light fixtures, motors, and electric irons.
After World War II, Panasonic regrouped and began to supply the post war boom in Japan with radios and appliances, as well as bicycles. Matsushita's brother-in-law, Toshio Iue founded Sanyo as a subcontractor for components after WWII. Sanyo grew to become a competitor to Panasonic.
National/Panasonic Bicycles
The production of high-quality road and touring bicycles and bicycle components composed a little-known but substantial portion of the appliance division of the National/Panasonic corporation from 1945 through the end of the 1980s. As a child, Konosuke Matsushita, founder of National/Panasonic, had been adopted into a family who owned a small bicycle shop, and was passionate about bicycles and cycling.[11]
National and Panasonic bicycles were sold both in Japan and overseas to various retailers, who sometimes rebadged the bikes with private labels. Despite competition from other Japanese manufacturers, Matsushita enacted a corporate policy forbidding low quality in Panasonic bicycles no matter what the profit margins. When Schwinn was forced by economics to outsource bicycles built overseas, they chose the Panasonic World series, a successful model in production from 1972. As the only vendor to meet Schwinn's rigid manufacturing and production standards, Panasonic built several models for Schwinn, such as the World Traveller and the World Voyager. During the 1970s and 1980s, Panasonic produced a full range of lugged steel frame bicycles, produced in modern factories complete with robotic welding/brazing and advanced paint application equipment. Panasonic's bicycle tires had higher thread counts and thicker treads than their competition, and established a reputation for uniformity and high quality.[12]
From 1985 on, steady increases in the value of the Japanese yen and lower cost competition from Taiwan made Panasonic bicycles less competitive in the U.S. and other markets. Panasonic began to sell rebadged bikes made in Taiwan under their name. By 1989, Panasonic division managers were reporting that bicycles brought less revenue (and less profit) per square foot of warehouse than any other product in the corporate division. Following the death of Mr. Matsushita, Panasonic abandoned the US bicycle market at the end of September, 1989.[13]
Electronics
In 1961, Konosuke Matsushita traveled to the United States and met with American dealers. Panasonic began producing television sets for the U.S. market under the Panasonic brand name, and expanded the use of the brand to Europe in 1979.[14]
The company used the National trademark outside of North America during the 1950s through the 1970s. It sold televisions, radios, and home appliances in some markets. The company began opening manufacturing plants around the world. It quickly developed a reputation for well-made reliable products.
The company debuted a hi-fidelity audio speaker in Japan in 1965 with the brand Technics. This line of high quality stereo components became worldwide favorites. The most famous product still made today is the SL-1200 record player, acknowledged for its high performance, precision, and durability. Throughout the 1970s and early 1980s, Panasonic continued to produce high-quality specialized electronics for niche markets, such as short-wave radios, and developed a successful line of stereo receivers, CD players, and other components.
In November 1999, the Japan Times reported that Panasonic planned to develop a "next generation first aid kit" called the Electronic Health Checker. At the time, the target market was said to be elderly people, especially those living in rural areas where medical help might not be immediately available, so it was planned that the kit would include support for telemedicine. The kits were then in the testing stage, with plans for eventual overseas distribution, to include the United States.
In recent years the company has been involved with the development of high-density optical disc standards intended to eventually replace the DVD and the SD memory card.
On January 19, 2006 Panasonic announced that, starting in February, it will stop producing analog televisions (then 30% of its total TV business) to concentrate on digital TVs. [15]
On November 3, 2008 Panasonic and Sanyo have come to an agreement, and Panasonic will be buying up Sanyo. The actual act should be completed by April next year, and will result in one mega-corporation with revenues over ¥11.2 trillion (around $110 billion). As part of what will be Japan's biggest electronics company, Sanyo won't be disappearing as a brand though, and Panasonic apparently intends to retain most of Sanyo's employees. [16]
Brands and divisions
Matsushita produces electronic products under a variety of names, including:
- Panasonic (home appliances for the overseas market, personal electronics, audio/video equipment, microchips, automotive components)
- National (home appliances for the Japanese market, used until September 2008)
- Nais (components for automated systems, replaced by Panasonic in 2004)
- Quasar (lower-priced televisions, video equipment and appliances in the North American market—being phased out)
- Technics (audio equipment)
- Ramsa (professional audio equipment)
- Rasonic (as of 1994, home appliances for the Chinese market).
In many computer systems, Matsushita devices identify themselves as "MATSHITA", to fit the limit of 8 characters imposed by Microsoft Windows device handlers.
See also
- List of Panasonic Corporation products
- Panasonic CD interface
- List of Japanese companies
- Gamba Osaka
- Technics
- Hiro Matsushita
- Toughbook
- Yamaha
Notes
- ↑ "Company Profile for Panasonic Corp (PC)". Retrieved on 2008-10-02.
- ↑ "Panasonic Corp (6752.T) Financial Statements". Retrieved on 2008-10-03.
- ↑ Fortune Global 500 Profile, CNN, retrieved 7 September 2007
- ↑ 松下電器産業株式会社が「パナソニック株式会社」に社名変更, Panasonic Corporation. 2008-10-01. Retrieved on 2008-10-03.(Japanese)
- ↑ Matsushita Electric Becomes Panasonic Corporation, Panasonic Corporation. 2008-10-01. Retrieved on 2008-10-03.
- ↑ Panasonic History: 1927 | Square bicycle lamp developed and marketed, Panasonic Corporation. Retrieved on 2008-10-02.
- ↑ 7.0 7.1 7.2 Brand History, Panasonic Corporation. Retrieved on 2008-10-02.
- ↑ 8.0 8.1 社史：2003年（平成15年） グローバルブランドを「Panasonic」に統一, Panasonic Corporation. Retrieved on 2008-10-02. (Japanese)
- ↑ Matsushita Electric to Change Name to Panasonic Corporation, Panasonic Corporation. 2008-01-10. Retrieved on 2008-10-03.
- ↑ Shareholders of Matsushita approve company name change to Panasonic, International Herald Tribune, 2008-06-26. Retrieved on 2008-10-03.
- ↑ Panasonic Bicycles at Yellow Jersey (2007), Article
- ↑ Panasonic Bicycles at Yellow Jersey (2007)
- ↑ Panasonic Bicycles at Yellow Jersey (2007)
- ↑ Panasonic expands use of Panasonic brand name globally in April, 2003
- ↑ Panasonic exiting analog TV business - Engadget
- ↑ [1]
Further reading
- Matsushita Leadership by John Paul Kotter, Simon and Schuster (1998)
External links
- panasonic.net Global Home.
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