More Must read. Sector Other Household Electronics. Connections : Panasonic Corporation. Yoshinobu Tsutsui. Hiroko Ota. Kunio Noji. All rights reserved. Show password. Add to my list Report. October TOP 5 Engagement. Business Summary. Number of employees : people. Sales per Business.
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Brand Portfolio. January, Masaharu Matsushita became President of the Company. December, Issued U. Established Matsushita Industrial Equipment Co.
February, Toshihiko Yamashita became President of the Company. July, Established a finance subsidiary in U. In May, , established two finance subsidiaries in Europe. February, Akio Tanii became President of the Company. March, Changed the fiscal year end from November 20 to March April, The Company's founder Konosuke Matsushita passed away.
MCA , a leading entertainment company in the U. February, Yoichi Morishita became President of the Company. May, Dissolved partnership with Philips regarding Matsushita Electronics Corporation and purchased all shares of Matsushita Electronics Corporation which Philips held. February, Cancelled 50 million shares of treasury stock by April, Made Matsushita Refrigeration Company into a wholly-owned subsidiary through share-exchange. June, Kunio Nakamura became President of the Company.
April, Absorbed Matsushita Electronics Corporation. April, Established a joint venture liquid crystal display panel manufacturing company, Toshiba Matsushita Display Technology Co. January, Instituted business domain system through business restructuring.
Kyushu Matsushita Electric Co. April, Established a joint venture cathode ray tubes manufacturing company, Matsushita Toshiba Picture Display Co. Made Matsushita Electronic Components Co.
Unified its corporate brands as "Panasonic" worldwide. June, Fumio Ohtsubo became President of the Company. August, Excluded JVC and its subsidiaries from consolidated subsidiaries of the Company due to JVC's issuance of new shares and third party allotments. As a result, JVC became an associated company accounted for under the equity method.
Matsushita lived in Nishinomiya in Hyogo Prefecture. Located on a 6,square-meter lot, his house had 20 rooms, including shoin-style traditional Japanese rooms and a Western lounge in addition to a spacious Japanese garden. The house was started in and took 1. It took so long because Matsushita wanted it to be a typical Japanese structure built to last years.
Matsushita and his family lived in the house mainly before World War II. Late Zen master Taiki Tachibana, a prominent figure in Buddhist circles in Kyoto, reportedly told Konosuke Matsushita, the late founder of home appliance giant Panasonic Corp. This must be corrected under your responsibility. This episode was recounted in the book "Cha no yu gatari, hito gatari" stories of tea ceremonies and people written by then Hakuhodo Inc. President Michitaka Kondo, who was present at the tea ceremony in the autumn of In the book, published by Tankosha Publishing Co.
Four years later, Matsushita founded the Matsushita Institute of Government and Management to nurture human resources with the skills to manage state affairs. By the end of , the company had 20 employees and was producing 5, plugs a month. In Matsushita, invented a dry-cell battery for bicycles lamps that lasted 30 hours, or 10 times longer than existing batteries.
By the end of that year the company was selling 5, batteries a month. By the end of , it was selling , bicycle lamps a month as well as batteries, irons and other products. He didn't lay off any workers or reduce their pay. Instead he gave them their full salaries for working a half day in their factories and spending the rest of the day going out and encouraging people to buy Matsushita products.
The strategy worked, The workers ended up being very determined salesmen. Within half a year sales rebounded to normal levels.
Matsushita began producing radio receivers in By , it was Japan's largest producer of radios. It also made electric fixtures, cooking heaters, storage batteries, phonographs and motors as well as bicycle lamps and batteries. In , it began producing incandescent light bulbs. Matsushita Corp. Konosuke Matsushita was originally supposed to be ousted from Japanese industry for his involvement in the war but was removed from the list after Matsushita employees petitioned the Americans for his removal from the list.
During the s, 60s and 70s, Matsushita expanded its consumer products divisions and began making transistor radios, televisions, stereos, tape recorders, microwave ovens and video tape recorders. In it made its first black-and-white television.
In it produced the first color television in Japan. In , it purchased Motorola's television operation in the United States and Canada. It sold million televisions by ; million in and million in Panasonic was the first television maker to produce million televisions. By , Matsushita had 83, employees and subsidiaries. It was the world's largest producer of televisions, the sixth largest industrial corporation in Japan and the 30th largest industrial corporation outside the United States.
Panasonic has been an Olympic sponsor since and has served as the official broadcast equipment supplier for several games. In , it supplied state-of-the-art digital audio and video equipment, including flat-screen televisions, professional digital video cameras, and DVD recorders for the Beijing Olympics,.
Matsushita words of wisdom Panasonic prides itself on its corporate culture and looking after its employees. A favorite catch phrase for the company is that it has built people not just products. Matsushita was the first Japanese company to give workers a five-day work week, provide equal pay for women and develop a corporate spiritual philosophy.
It sponsors classes in flower arrangement and meditation and other things for its employees and hosts sporting events. Matsushita has had few labor disputes and never had a strike.
Matsushita encourages employees to offer suggestions on how to improve productivity. In one year there were , suggestions. It also set up a "self-control room" outfit with bamboo staves and a dummy of Konosuke Matsushita workers could use to take out their frustrations. The room also had distorted mirrors to help employees to relax.
Young Panasonic workers and engineers do well in national and international skills competitions in categories such as lathe work, machine assembly and sheet metal working. In the machine assembly category, competitors produce about 10 machine parts and assemble them time within seven hours based on a assigned design.
A trade school in Kadoma Osaka trains workers and engineers for these competitions. Matsushita was known as "the god of management. Sell what would do the customers good.
Panasonic has long had a reputation for being slow to move and adapt and lacking innovation. It instead copied designs and products of competitors and introduced its versions as the products became popular.
In the mids, malfunctions in a series of Panasonic products prompted the company to inspect and repair , defective refrigerators and televisions for problems. At the same time Panasonic was unable to develop imaginative products. The period opened up the firm to criticism and set off soul searching within the company. The company began moving more and more of its operations overseas, particularly to China, and shifting employees to profitable sectors. There was a discussion of laying off workers but a great effort was made to get employees to change their work habits and modernize or take early retirement rather than lay them off.
There was even some talk that Panasonic might move its headquarters from Osaka to Tokyo. Panasonic has a huge production facility in Hangzhou, Zhejaing Province in China. Factories there make everything from washing machines to rice cookers for markets in China, Japan and elsewhere. It also merged Panasonic Electric Works, which makes lighting systems, electrical wiring fittings and electronic materials in One of the biggest expenses was changing all the signs from National to Panasonic at the 18, outlets in Japan that sell Panasonic products.
The military also covered the cost of changing employee business cards and company pins. Panasonic has used name of its founder and the brand name National for more than 80 years.
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