Matsushita Electric Industrial Co., the world's top consumer electronics maker, announced today that it was changing its name to Panasonic Corp. to increase the worldwide recognition of its brand name.
Matsushita was named after the company’s founder, but its board decided to drop all of the company’s various brand names, including National, in favor of the Panasonic name.
The company has been using a company name – Matsushita Electric Industrial Co. Ltd. – since 1935, following its earlier names: Matsushita Electric Manufacturing Works since 1929 and Matsushita Electric Housewares Manufacturing Works since 1918, when the company was first established. While the company was using National and Panasonic brand names over the period, it decided in 2003 to unify a global brand into Panasonic.
The transition to Panasonic Corp. will go into effect Oct. 1 once it passes shareholders’ muster during a meeting in June.
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