, formerly known as , is a Japanese multinational electronics
corporation headquartered in Kadoma
." Corporate Profile
." Panasonic Corporation. Retrieved on February 15, 2011. "Head Office Location 1006, Oaza Kadoma, Kadoma-shi, Osaka 571-8501, Japan" ( PDF Map
, GIF Map
( Direct link
The company was founded in 1918 as a producer of lightbulb socket
s and has grown to become one of the largest Japanese electronics producers alongside Sony
and Canon Inc.
. In addition to electronics, it offers non-electronic products and services such as home renovation services. Panasonic
is the world's fourth-largest television manufacturer
by 2012 market share.
Panasonic has a primary listing on the Tokyo Stock Exchange
and is a constituent of the Nikkei 225
indices. It has a secondary listing on the Nagoya Stock Exchange
From 1935 to October 1, 2008, the company name was "Matsushita Electric Industrial Co., Ltd." 松下電器産業株式会社が「パナソニック株式会社」に社名変更
, Panasonic Corporation. 2008-10-01. Retrieved on 2008-10-03.. On January 10, 2008, the company announced that it would change its name to "Panasonic Corporation", in effect on October 1, 2008, to conform with its global brand name "Panasonic". The name change was approved at a shareholders' meeting on June 26, 2008 after consultation with the Matsushita family.
Panasonic was founded in 1918 by Kōnosuke Matsushita
as a vendor of duplex lamp sockets. In 1927, it began producing bicycle lamps, the first product which it marketed under the brand name National
During World War II
the company operated factories in Japan and other parts of Asia
which produced electrical
components and appliances such as light fixtures
s, electric irons
, wireless equipment and its first vacuum tube
After the war, Panasonic regrouped as a Keiretsu
and began to supply the post-war boom in Japan with radios and appliances, as well as bicycles
. Matsushita's brother-in-law, Toshio Iue
, founded Sanyo
as a subcontractor for components after World War II. Sanyo grew to become a competitor to Panasonic, but was later acquired by Panasonic in December 2009.Eric Loveday, Green Car Reports. " Panasonic Approved For $4.6 Billion To Acquire Sanyo, To Become World's Largest Li-Ion Battery Maker
." December 8, 2009. Retrieved March 10, 2017.
In 1961, Konosuke Matsushita traveled to the United States
and met with American dealers. The company began producing television
sets for the U.S. market under the Panasonic
brand name, and expanded the use of the brand to Europe in 1979. Panasonic expands use of Panasonic brand name globally
in April, 2003. /* Introduction */ Shahid Kapoor was the brand ambassador for Panasonic India from 2005 to 2010. Now Ranbir Kapoor has taken over along with Katrina Kaif
The company used the National
brand outside of North America from the 1950s to the 1970s (the trademark could not be used in the United States because it was already in use by the National Radio Company
in a closely related product area). It sold televisions, VHS VCR
s, high fidelity
stereo receivers, multi-band shortwave radio
s and marine radio direction finder
s, often exported to North America under various U.S. brand names, such as Technics
, Curtis Mathes
and of course Panasonic. The company also developed a line of home appliances such as rice cooker
s for the Japanese and Asian markets. Rapid growth resulted in the company opening manufacturing plants around the world.
The company debuted a hi-fidelity audio speaker in Japan in 1965 with the brand Technics
. This line of high quality stereo components became worldwide favorites, the most famous products being its turntables
, such as the SL-1200
record player, known for its high performance, precision and durability. Throughout the 1970s and early 1980s, Panasonic continued to produce high-quality specialized electronics for niche markets such as shortwave radios, and developed its successful line of stereo receivers, CD players and other components.
In 1973, Matsushita formed a joint venture with Anam Group, Anam National
In 1983, Matsushita launched the Panasonic Senior Partner, the first fully IBM PC compatible
In November 1990, Matsushita agreed to acquire the American media company MCA Inc.
for US$6.59 billion. Matsushita subsequently sold 80% of MCA to Seagram Company
for US$7 billion in April 1995.
In 1998, Matsushita sold Anam National to Anam Electronics.
2000 to present
On May 2, 2002, Panasonic Canada marked its 35th anniversary in that country by giving $5-million to help build a "music city" on Toronto's waterfront.
On January 19, 2006, Panasonic announced that it would stop producing analog televisions (then 30% of its total TV business) from the next month, in order to concentrate on digital televisions.
In 2008, all models of electric shavers from the Panasonic factory were called Panasonic shavers, and they dropped Matsushita and National from their name, regardless of worldwide or Japanese markets.
On November 3, 2008, Panasonic and Sanyo
announced that they were holding merger talks, which eventually resulted in the acquisition of Sanyo by Panasonic. The merger was completed in December 2009, and resulted in a corporation with revenues of over ¥11.2 trillion (around $110 billion).
With the announcement that Pioneer
would exit the production of its Kuro plasma
HDTV displays, Panasonic purchased many of the patents and incorporated these technologies into its own plasma displays.
In April 2011, it was announced that Panasonic would cut its work force by 40,000 by the end of fiscal 2012 in a bid to streamline overlapping operations. The curtailment is about 10 percent of its group work force.
In October 2011, Panasonic announced that it would trim its money-losing TV business by ceasing production of Plasma TVs at its plant in Amagasaki
, Hyogo Prefecture
by March 2012, cutting 1,000 jobs in the process.
In January 2012, Panasonic announced that it had struck a deal with Myspace
on its new venture, Myspace TV.Junko Yoshida, EE Times. " 3-D TV or Myspace TV?
." January 10, 2012. Retrieved January 10, 2012. Myspace TV will allow users to watch live television while chatting with other users on a laptop, tablet or the television itself. With the partnership, Myspace TV will be integrated into Panasonic Viera televisions.
On May 11, 2012, Panasonic announced plans to acquire a 76.2% stake in FirePro Systems
, an India-based company in infrastructure protection and security solutions such as fire alarm, fire suppression, video surveillance and building management.
In line with company prediction of a net loss of 765 billion yen, on November 5, 2012, the shares fell to the lowest level since February 1975 to 388 yen. In 2012, the shares plunged 41 percent. On November 14, 2012, Panasonic said it will cut 10,000 jobs and make further divestments.
On May 18, 2013, Panasonic announced that it would invest $40 million in building a factory in Binh Duong, Vietnam
which was completed in 2014.
In July 2013, Panasonic agreed to acquire a 13% stake in the Slovenian household appliance manufacturer Gorenje
for around €10 million.
In a press release following its announcement at IFA 2013, Panasonic announced that it had acquired the "Cameramanager video surveillance service" with the intention of expanding its reach to cloud-based solutions.
In July 2014, it was announced that Panasonic has reached a basic agreement with Tesla Motors
to participate in the Gigafactory
, the huge battery plant that the American electric vehicle manufacturer plans to build in the U.S. In August 2014, Tesla said the plant would be built in the Southwest or Western United States by 2020. The $5 billion plant would employ 6,500 people, and reduce Tesla's battery costs by 30 percent. The company said it was looking at potential sites in Nevada
, New Mexico
In October 2014, Panasonic announced its initial investment in Tesla Motors
’ battery factory would amount to "tens of billions" of yen, according to the firm’s CEO. Panasonic says initial investment in Tesla battery factory will be 'tens of billions' of yen
, 6 October 2014
In November 2014, Panasonic announced its partnership with Photon Interactive to create customized and personalized digital signs in stores.By Anothony Ha, TechCrunch. " Panasonic Partners With Photon To Build Smarter Signs In Stores
." November 16, 2014. November 17, 2014.
In January 2015, Panasonic announced it has stopped making TVs in China and plans to liquidate its joint venture in Shandong.Ritsuko Ando and Lisa Twaronite, Reuters. " Panasonic withdraws from TV production in China: source
." January 31, 2015. February 10, 2015.
In March 2015, Panasonic announced plans to buy Houston-based satellite communication service provider ITC Global.By Takashi Mochizuki, The Wall Street Journal. “ Panasonic to Buy Houston-Based ITC Global
.” March 16, 2015. April 6, 2015.
In April 2015, Panasonic announced its new range of products and relaunched its brand in South Africa. The company intends to use South Africa as a springboard into Africa, with Nigeria and Egypt as its initial targets.BizCommunity.com. “ Panasonic...big plans for Africa and SA
.” April 21, 2015. April 21, 2015.
In June 2015, Panasonic struck agreements with three Australian energy utilities (Red Energy, Ergon Energy and ActewAGL) to trial its home-based battery storage options.Giles Parkinson, Renew Economy. “ Panasonic signs battery storage deal with 3 Australian utilities
.” June 2, 2015. June 3, 2015.
In November 2015, the Panasonic Corporation announced that it set up a new plant in Suzhou, China, through its subsidiary, Panasonic Ecology Systems Co., Ltd, to produce a new type of catalyst-coated diesel particulate filter (DPF) that decomposes matter contained in diesel engine exhaust gas.Energy Global. “ Panasonic to produce catalyst-coated diesel particulate filter
.” November 16, 2015. November 17, 2015.
In November 2015, Panasonic Corporation start to retail locally harvested produce from its indoor agriculture facility salads via Veggie Life branding in Singapore, from the very first licensed indoor vegetable farm in the country using Panasonic's own technology.
In February 2016, Panasonic and the City of Denver formed a formal partnership to make Denver the "smartest" city in America. Joseph M. Taylor, Chairman and CEO of Panasonic Corp. of America, laid out the plans for the partnership in four key areas: smart housing and small offices, energy and utilities, transportation and city services and smart buildings.Meghan Ottolini, CRN. “ Panasonic Partners to Make Denver The Smartest City in America
.” February 18, 2016. February 18, 2016.
Due to increased competition from China, Panasonic's LiIon auto market share decreased from 47% in 2014 to 34% in 2015." Nissan's battery pullout may energize rivals
, 6 August 2016. In June 2016, Tesla Motors, Inc. announced that Panasonic Corporation would be the exclusive supplier of batteries for its mass market vehicle Model 3. Batteries for the higher-end Model S sedan and Model X SUV will also be supplied by Panasonic.Zacks Equity Research, Zacks. “ Tesla Says Panasonic Exclusive Supplier of Model 3 Batteries
.” June 9, 2016. June 9, 2016. In early 2016 Panasonic president Kazuhiro Tsuga
confirmed a planned total investment of about $1.6 billion by the company to construct the Gigafactory to full capacity. However, after the number of Model 3 reservations
became known in April, Panasonic moved production plans forward and announced a bond
sale for $3.86 billion, most of it to be invested in Gigafactory.
In 2016, it debuted its transparent TV.
As of March 31, 2012, Panasonic employed about 330,000 staff and had around 580 subsidiary companies. Panasonic had total revenues of in 2012, of which 53 percent were generated in Japan, 25 percent in Asia (excluding Japan), 12 percent in the Americas and 10 percent in Europe.
Panasonic's operations are organised into three broad "business fields" - Consumer, Solutions and Components & Devices - and nine "domain companies" - AVC Networks (which generated 17% of Panasonic's total 2012 revenues), Eco Solutions (15% of revenues), Appliances (15% of revenues), Industrial Devices (14% of revenues), Systems and Communications (8% of revenues), Automotive Systems (7% of revenues), Energy (6% of revenues), Healthcare and Manufacturing Solutions.
Panasonic invested a total of in research and development in 2012, equivalent to 6.6 percent of its revenues in that year. As of March 31, 2012, Panasonic held a total of 140,146 patents worldwide.
In July 2016, it was reported that Panasonic is now looking at making acquisitions in the artificial intelligence (AI) and machine learning space. According to a source, the company has put aside $10 million for use in either an acquisition or joint venture.Mobile World Live. “ Panasonic looks to AI acquisitions with $10M fund
.” July 6, 2016. July 8, 2016.