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Matsushita Electric to become Panasonic Corp.

Posted: 14 Jan 2008 ?? ?Print Version ?Bookmark and Share

Keywords:Panasonic? Matsushita Electric Industrial? image sensor?

Matsushita Electric Industrial Co. Ltd will change its company name to Panasonic Corp. effective October 1 and will unify its corporate brands to the Panasonic brand across the world.

Upon a company name change, the company will undertake its brand name change from the 'National' brand, which is used for home appliances and housing equipment in Japan, to the 'Panasonic' brand by the end of fiscal 2010, ending March 31, 2010. Subsequently, the 'National' brand will be abandoned and the corporate brands in Japan will be unified to the 'Panasonic' Brand.

The company has been using 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 it 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 with a brand slogan "Panasonic ideas for life."

The new Panasonic Corp. and its group companies worldwide will continue to run its business based on its founder Konosuke Matsushita's business philosophy known as; "A company is a public entity," "Customer-comes-first principle" and "Start fresh everyday."

The company is currently operating its business under the GP3 mid-term management plan, which sets a direction toward making Global Excellence of its corporate performance with three pillars, namely Global Progress, Global Profit and Global Panasonic.

Image sensor expansion
In a separate release, Panasonic announced it plans to invest $857 million to expand its semiconductor production facility at its Tonami plant in Toyama Prefecture, Japan. The construction of the new facility, which will produce image sensors for various digital appliances, will start in September 2008 and production will be launched in August 2009.

The new plant will strengthen Panasonic's image sensor business in areas of digital cameras, in-vehicle devices, camcorders, broadcasting and medical equipment. After commencing production in August 2009, the company plans to gradually increase its production capacity up to 30,000 wafers per month.

The facility will also employ environmental measures including local cleaning technology to reduce CO2 emissions from the air conditioning systems in cleanrooms by 30 percent compared with the existing plant.

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