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Matsushita Electric corporate name to replace with Panasonic

Posted: 14 Dec 2004 ?? ?Print Version ?Bookmark and Share

Keywords:matsushita electric? panasonic?

Matsushita Electric Corp. of America, the North American headquarters of Osaka, Japan-based Matsushita Electric Ind. Co. Ltd, will soon formally take on its best known brand name as its corporate name, Panasonic. As of January 1, 2005, the company will be known as Panasonic Corp. of North America.

"Panasonic is the name that customers and channel partners have known us by for years," said company chairman Yoshi Yamada. "We want to take advantage of the tremendous brand equity and good will that research tells us is built into the Panasonic name, so it makes great sense to call our company Panasonic. In addition, we are also in the midst of a huge transformation of our company's systems and organization. By putting the Panasonic name on the revitalized company, we want to underline the dynamic change going on within the organization," Yamada added.

In all, nearly 50 Matsushita entities in the U.S. and Mexico, ranging from Matsushita Electric Corp. of America headquarters in New Jersey to factories and R&D units, will take on the Panasonic name between January 1, 2005, through December 2005. For example, the in-flight entertainment systems, Matsushita Avionics Systems Corp., based in Bothell, Washton, and known in the industry as MAS, will be renamed Panasonic Avionics Corp. on April 1, 2005. In Columbus, Ga., Matsushita-Ultra Tech Battery Corp., a battery-making joint venture with Kodak, will change its name to Panasonic Primary Battery Corp. of America on the same day. Meanwhile, the company's plasma TV R&D base in Highland, New York, Plasmaco Inc., will become Panasonic Plasma Display Laboratory of America Inc., on January 1, 2005.

Similar changes in corporate naming will take place in Matsushita Electric subsidiary companies in Europe, Asia, Africa, Australia and Oceania, and South America over the same period. The Matsushita corporate name, which comes from company founder Konosuke Matsushita, will be retained by the parent company and its subsidiaries in Japan where it is widely known and respected and its association with the Panasonic brand is well understood.

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