Panasonic

Categories: Companies
    • Created as a brand name owned by Matsushita Electric Industrial Co., Ltd.
    • Stock symbol: MC (NYSE)
    • Annual revenue (2007): 8.1 trillion yen
    • Founder: Konosuke Matsushita
    • Year established: 1955
    • Industry: Electronics manufacturing and marketing
    • Phone: 81-6-6908-1121
    • Fax: 81-6-6908-2351
    • HQ: Osaka, Japan
    • President: Fumio Ohtsubo

  • Panasonic is a brand name created by the Matsushita Electric Industrial Co., Ltd., and is the brand name under which Matsushita manufactures and markets consumer electronics, including plasma and LCD TVs, cameras, DVD players and records, among many other items. It is the second largest electronics manufacturer in Japan, next to Hitachi.

    On February 4, 2009, Panasonic announced plans to cut 15,000 jobs and shutter 27 factories worldwide by March of 2010, as part of a restructuring effort in the wake of the global recession. The company also forecast a net loss of $4.3 billion annual loss for the fiscal year ending March 31, 2009.CBS News: Panasonic To Slash 15,000 Global Jobs (February 4, 2009) Bloomberg.com: Panasonic to Eliminate 15,000 Jobs, Forecasts Loss (February 4, 2009)

  • Key Dates

    1. 1918: Matsushita Electric Industrial Co., Ltd. is founded to produce electrical components
    2. 1955: Matsushita creates the Panasonic brand for marketing electronics on North America
    3. 1986: Begins using Panasonic brand name in Japan
    4. January 10, 2008: Parent corporation Matsushita announced that it plans to change name to Panasonic Corporation
    5. October 1, 2008: Name change takes effect
    6. January 2009: Introduced the first portable Blu-Ray player during the 2009 Consumer Electronics Show in Las VegasABC News: Sneak Peek at Some of the Best Gadgets at CES (January 7, 2009)

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