Panasonic
Corporation History Panasonic
Corporation is without a doubt one of the world's
largest and most successful electronics companies.
It has grown from just 3 to 290,000 employees, and
accounts for $51.7 billion net sales worldwide. It
not only constantly breaking technological barriers,
it is also a company that puts the needs of its
customers and employees first. In the UK, Panasonic
Corporation is more recognisable under the brands of
Panasonic and Technics, world-wide they work as
National, Ramsa, Quasar and MAS (Matsushita
Avionics), manufacturing more than 15 000 different
products.
The story of Panasonic Corporation began in Osaka,
Japan in 1918, when Konosuke Matsushita invented a
two-socket light bulb. He started producing and
selling the light bulb from his own house, with just
3 employees. The invention of a new type of bicycle
lamp came in 1923, followed by the development of the
first radio just 8 years later. In 1935 they launched
their first television, an area of production that
has since proved immensely successful. 1935 also
marked a turning point in the size, production and
sheer growth of Panasonic Corporation. This
particular year saw the company manufacturing 600
different kinds of product with sales extending to
overseas markets for the first time. Their employee
base rose to 3500. By 1942, Matsushita became the
first radio manufacturer in Japan. As the swinging
sixties approached, the total number of employees had
risen to 28000. The company reported profits of 1.5
billion yen
As Panasonic Corporation grew,
Konosuke Matsushita never lost sight of his
founding principles - putting the needs of his
customers and employees first. He developed his
original business Philosophy in 1929, a mission
statement that still holds true today -
"Recognizing our responsibilities as
industrialists, we will devote ourselves to the
progress and development of society and the
well-being of people