Matsushita Electric Becomes Panasonic Corporation |
Panasonic Corporation of North America CEO Yoshi Yamada To Ring Opening
Bell At New York Stock Exchange
NEW YORK, Oct. 1 /PRNewswire-FirstCall/ -- Matsushita Electric
Industrial Co., Ltd. announced that it has become Panasonic Corporation and
its stock symbol on the New York Stock Exchange has been changed to PC from
MC effective today. Along with the name change, Panasonic is working on the
brand changeover from National to Panasonic within Japan - where National
is the primary brand the company uses for its home appliances - and is
aiming to complete it by the end of March 2010.
To celebrate the global name change, Yoshi Yamada, Chairman and Chief
Executive Officer, Panasonic Corporation of North America, will ring the
NYSE Opening Bell this morning, joined by Joe Taylor, Chief Operating
Officer, Panasonic Corporation of North America; Shiro Kitajima, President,
Panasonic Consumer Electronics Company and other members of the company's
executive leadership team and honored guests.
Panasonic will also display its 150-inch Plasma High Definition Display
- the world's largest High Definition Flat Screen TV- outside the Exchange
on Broad Street today. This will be the first public exhibit of the product
which until now has only been shown at private industry events. Also on
display will be a wide range of the latest VIERA HDTV technologies from
Panasonic, including its first IP-enabled HDTV (VieraCast) and tru2way - an
HDTV which enables consumers to receive cable TV services without a set-top
box.
When it was first established in 1918 the company was known as
Matsushita Electric Housewares Manufacturing Works, which was changed to
Matsushita Electric Manufacturing Works in 1929. The company used the name
Matsushita Electric Industrial Co., Ltd. after its incorporation as a joint
stock corporation in 1935. While the company used the National and
Panasonic brand names over a long period, it decided in 2003 to position
Panasonic as its global brand with the brand slogan "Panasonic ideas for
life."
With this company name change and brand unification, the company has
renewed its commitment to bringing the achievements accumulated through the
three different names of Matsushita, National, and Panasonic under the one
single name of Panasonic to enhance its total brand value.
Panasonic Corporation will maintain and put its management philosophy
into practice throughout the world. The company will inherit and further
develop the corporate culture cultivated by the Matsushita Group. Panasonic
employees across the world will unite their efforts under the common
management philosophy, pursuing together the common goal of making
Panasonic Corporation a globally excellent company.
About Panasonic
Panasonic Corporation is a worldwide leader in the development and
manufacture of electronic products for a wide range of consumer, business,
and industrial needs. Based in Osaka, Japan, the company recorded
consolidated net sales of 9.07 trillion yen (US$90.7 billion) for the year
ended March 31, 2008. The company's shares are listed on the Tokyo, Osaka,
Nagoya and New York (NYSE Symbol: PC) stock exchanges. For more information
on the company and the Panasonic brand, visit the company's website at
http://panasonic.net/.
About Panasonic Corporation of North America
Based in Secaucus, NJ, Panasonic Corporation of North America markets a
broad line of digital and other electronics products for consumer, business
and industrial use. The company is the principal North American subsidiary
of Panasonic Corporation -- formerly Matsushita Electric Industrial Co.,
Ltd. of Japan -- and the hub of Panasonic's U.S. branding, marketing,
sales, service and R&D operations. Information about Panasonic and its
products is available at http://www.panasonic.com. Additional company information
for journalists is available at http://www.panasonic.com/pressroom.
SOURCE Panasonic Corporation
back to topRelated links:
CONTACT:
Molly McDowell, +1-201-348-7185,
mcdowellm@us.panasonic.com, or Chris De Maria, +1-201-348-7182,
demariac@us.panasonic.com, both of Panasonic; or Alix Dunn, Cohn
& Wolfe, +1-212-798-9795, alix_dunn@cohnwolfe.com
