Panasonic Holdings Corporation,[a] formerly Matsushita Electric Industrial Co., Ltd.[b] between 1935 and 2008 and the first incarnation of Panasonic Corporation[c] between 2008 and 2022,[1] is a major Japanese multinational conglomerate corporation, headquartered in Kadoma, Osaka. It was founded by Kōnosuke Matsushita in 1918 as a lightbulb socket manufacturer.[3] In addition to consumer electronics, of which it was the world’s largest maker in the late 20th century, Panasonic offers a wide range of products and services, including rechargeable batteries, automotive and avionic systems, industrial systems, as well as home renovation and construction.[4][5][6][7][8]
Panasonic has a primary listing on the Tokyo Stock Exchange and is a constituent of the Nikkei 225 and TOPIX 100 indices. It has a secondary listing on the Nagoya Stock Exchange.
Corporate name
From 1935 to 1 October 2008, the company’s corporate name was “Matsushita Electric Industrial Co.” (MEI).[9][10] On 10 January 2008, the company announced that it would change its name to “Panasonic Corporation”, in effect on 1 October 2008, to conform with its global brand name “Panasonic”.[11] The name change was approved at the shareholders’ meeting on 26 June 2008, after consultation with the Matsushita family.[12][13]
In 2022, Panasonic announced a reorganization plan which split the company into Panasonic Holdings Corporation (the former Panasonic Corporation) and conversion of its divisions into subsidiaries; the Lifestyle Updates Business Division being the division that took the Panasonic Corporation name after the reorganization. The reorganization took effect on 1 April 2022.[1]
Brand names
National TV set from 1952
Panasonic Corporation sells virtually all of its products and services worldwide under the Panasonic brand, having phased out the Sanyo brand in the first quarter of 2012.[14] The company has sold products under a number of other brand names during its history.
In 1927, Matsushita adopted the brand name “National”[d] for a new lamp product.[15] In 1955, the company began branding audio speakers and lamps for markets outside Japan as “PanaSonic”, which was the first time it used the “Panasonic” brand name.[16] The company began to use the brand name “Technics”[e] in 1965 for audio equipment.[16] The use of multiple brands lasted for some decades.[16] While “National” had been the premier brand on most Matsushita products, including audio and video, “National” and “Panasonic” were combined in 1988 as National Panasonic after the worldwide success of the Panasonic name.[citation needed]
In May 2003, the company announced that “Panasonic” would become its global brand, and launched the global tagline “Panasonic ideas for life.”[17] 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.[17] In January 2008, the company announced that it would phase out the brand “National” in Japan, replacing it with the global brand “Panasonic” by March 2010.[11] In September 2013, the company announced a revision of the decade-old tagline to better illustrate the company vision: “A Better Life, A Better World.”[18]
Rasonic is a brand name of Shun Hing Electric Works and Engineering Co. Ltd (信興電工工程有限公司), a company that has imported Panasonic and National branded product since Matsushita Electric Industrial era, and has also sold MEI/Panasonic products under the original brand names. In June 1994, Panasonic Shun Hing Industrial Devices Sales (Hong Kong) Co., Ltd. (松下信興機電(香港)有限公司) and Panasonic SH Industrial Sales (Shenzhen) Co., Ltd. (松下電器機電(深圳)有限公司) were established by joint venture between Matsushita Electric Industrial and Shun Hing Group respectively,[19][20] making Rasonic a product brand for MEI and subsequent Panasonic Corporation.
In September 2014, Panasonic announced they will revive the Technics brand.[21]
Overseas operations
Panasonic Corporation of North America
Panasonic Corporation of North America is Panasonic’s principal subsidiary in the United States. It has been headquartered in Newark, New Jersey since 2013, after being previously headquartered in Secaucus, since the 1980s;[119] both Newark and Secaucus are located within New Jersey’s Gateway Region.
Founded in New York City at the MetLife Building in September 1959, it was known as Matsushita Electric Corporation of America (MECA) prior to 2005.
Panasonic Eco Systems North America,[120] a business unit of Panasonic North America, distributes renewable energy products in the United States and Canada. Established in 2012,[121] Panasonic Eco Systems sells renewable energy systems and home energy management products, including high efficiency solar panels, battery storage systems,[122] and indoor air quality products.[123][124] It also distributes cordless assembly tools used on factory assembly lines.[125] In 2016, the company began expanding its network of residential solar installers in order to market Panasonic Solar HIT (heterojunction with intrinsic thin layer[126]) panels and battery storage nationally,[127] reaching 150 authorized installers by November 2018.[128][127] The company began offering a 25-year warranty for its HIT photovoltaic modules – compared to the industry standard at the time of 10 years – in 2017.[129] In 2019, Panasonic introduced its EverVolt brand of solar and battery storage products.[130][126] The company transitioned its solar panel manufacturing to OEMs in early 2021 in order to focus on offering a wider range of products.[126] Later that year, Panasonic debuted the EverVolt 2.0 energy storage system rated for outdoor use.[131]
Panasonic Europe
Panasonic’s principal subsidiaries in Europe are Panasonic Europe Ltd.[132] and Panasonic Marketing Europe GmbH.[133] Panasonic Europe is headquartered in London, England, but it is moving its headquarters to Amsterdam, Netherlands due to Brexit.[134] Panasonic employs around 12,000 people in Europe, and the region generates around 10 percent of its total revenues.[135] In 2012, Panasonic had around a 10 percent share of the consumer electronics market in Europe, ranking third behind Samsung Electronics (with 26 percent) and LG Electronics (with 12 percent).[135]
Panasonic operates a chain of stores in the United Kingdom and Ireland called “Panasonic Store” which exclusively sell Panasonic products. Prior to 2008 the chain was named “shop@Panasonic”.
In November 2010, Panasonic Electric Works established Panasonic Electric Works Vossloh-Schwabe Serbia d.o.o, a new company in Svilajnac, Serbia, to manufacture energy-efficient electronic devices (ballasts) for lighting fixtures. Volume production commenced in January 2011.[136]
In May 2015, Panasonic launched its virtual solar service to UK consumers. The service allows users to run a simulation to provide an estimate of how much a rooftop solar installation would produce if it were installed in their home.[137]
Panasonic India
Mr. Daizo Ito serves as Group President for Panasonic Regional Headquarters India (situated in Haryana) at Panasonic India Pvt. Ltd.[138] Panasonic India makes washing machines, refrigerators, electric rice cookers, electric irons, mixer-grinders/blenders and other home appliances for the Indian market.
Panasonic Life Solutions India Pvt Ltd (formerly known as Anchor Electricals Pvt. Ltd.), an Indian company which makes electric lamps, switches, sockets and other electrical accessories, is a wholly owned subsidiary of Panasonic Corporation.
PT Panasonic Gobel Indonesia
PT Panasonic Gobel Indonesia (formerly known as PT National Gobel and PT National Panasonic Gobel) is the name of the company’s Indonesia division based in Cawang, East Jakarta. Tomonobu Otsu is the current President Director and Rachmat Gobel is the current President Commissioner. It is a joint venture between Panasonic Corporation Japan and the Gobel Group of Indonesia.