Panasonic Matsushita to become Panasonic
Better-known brand adopted
Come October and Matsushita will be officially called Panasonic, formalising a name the company's used for years and is arguably better known as.
Matsushita's shareholders this week voted to approve the change, which will begin to be implemented on 1 October. The corporation said today it expects the change to be done and dusted by the end of March 2010.
Matsushita was founded in 1918 and named after founder Konosuke Matsushita. It began offering products under the National brand in 1927. The Panasonic brand was established in the US in the early 1960s, bringing it to Europe in the late 1970s. During this period, National focused on the Japanese market.
The rapid expansion of the consumer electronics market in the 1980s and 1990s saw the global Panasonic brand growing in strength. In 2003, Matsushita - now a group of companies rather than one - after years trying to convince World+Dog Panasonic was just part of Matsushita, decided to adopt the brand across the corporation, across all markets.
So Matshushita-named group members will gain the Panasonic tag, as will National companies.
Overall, the Matsushita Electric Industrial Co., Ltd. - as it's now known - will become the Panasonic Corporation.