Jan 05, 2026
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- Konosuke Matsushita
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Here, we share episodes about Konosuke Matsushita, the founder of the Panasonic Group, from our company’s historical records. This episode introduces the attitude of returning to the founding spirit, which Konosuke frequently emphasized.
Toshihiko Yamashita, then president, reading out the President’s Declaration (Konosuke’s statement describing the true mission of Matsushita Electric) at the 51st Foundation Day Ceremony on May 5, 1982
Challenge yourself to start anew as a humble merchant
On its 51st Foundation Day of May 5, 1982, Matsushita Electric (currently Panasonic Holdings) stepped into the third phase of Meichi (revelation of the corporate mission).*1
At the time, Matsushita Electric was beginning to lose its growth momentum due to price increases following the second oil crisis*2 and changes in consumer needs with the spread of home appliances. Concerned about the risk of a prolonged business slump, in June, Toshihiko Yamashita, then president, convened an urgent meeting, mainly consisting of the heads of affiliated companies and business divisions. He sternly pointed out their leniency and warned them that Matsushita Electric could go under if this condition persisted.
*1: On May 5, 1932, Konosuke held the first Foundation Day Ceremony at the Central Electric Club in Osaka and declared, “The true mission of Matsushita Electric is to produce an inexhaustible supply of goods, thus creating peace and prosperity throughout society.” He designated 1932 as the first year of the era of Meichi, the revelation of the true mission, and May 5 as the Foundation Day. He also announced his grand vision of fulfilling the true mission over 250 years (25 years x 10 phases). Thus 1982 was a milestone year, marking the start of the third phase.
*2: The supply of crude oil dropped due to the 1979 Iranian Revolution and the subsequent unstable situation in the Middle East, leading to a surge in crude oil prices worldwide.
With an increased sense of crisis, in October, Konosuke also promoted the importance of management executives’ awareness and motivated them by stating, “Matsushita Electric must start over again. Forget about acquiring a high status or reputation for now. We must imagine that we are once again running a newly established business and start from paying a visit to each retailer. Make up your mind to start anew as a humble merchant. Think of yourself as a chairperson, president, or employee of a company that is about to go under. Your only focus is on how to rebuild this enterprise.”
He also inspired them by asking, “Are you striving to constantly generate new ideas in all processes, from production to sales and marketing, and to successfully satisfy customers so that they believe Matsushita Electric is true to its reputation? Are you taking the lead in all facets of business? Each and every one of you must aim for a perfect score and always maintain this attitude, even if you fail to achieve the goal.”
Furthermore, Konosuke stated, “Fortunately, I’m still in good health. I have a feeling that I can work more energetically in the next 25 years. There’s always plenty of work. Even if I cannot take the lead like I used to or lose my voice, I can still communicate by gesture,” demonstrating his own resolve and enthusiasm to approach the third phase, even at the age of 87.
During the first Foundation Day Ceremony on May 5, 1932, Konosuke (then 37 years old) read out the President’s Declaration. Moved by his words, all participants came to the podium one after another to express their determination. The auditorium was filled with excitement. The Declaration states its starting point of business, “I am dedicated to our mission of manufacturing daily essentials in abundant supply, thereby improving the quality of life for everyone.”
In the following January, Konosuke announced the management slogan “Strengthen Products.” With the aim of developing products that would provide the world’s highest satisfaction in all aspects, including performance, quality, and cost, Matsushita Electric returned to its starting point of business. The new Aisaigo (“beloved wife” in English) fully automatic washing machine*3 was released in April, and sales became 150% that of the previous year, regaining top market share. Konosuke’s attitude to challenge oneself to start anew as a humble merchant became the driving force for the company to recover its momentum of growth.
*3: The new washing machine model was developed as the first product of the A-TOP Product System, in which the entire company worked together to create products that had an overwhelming advantage over its rival products and significantly contributed to business performance. It improved cleaning performance while reducing fabric entanglement and damage, which had been considered difficult to achieve simultaneously, by developing a new washing system, the first of its kind in the world and highly praised.
Masayuki Matsushita, Konosuke’s grandson, introducing Aisaigo to his grandfather. At the time, he served as the Director of the Washing Machine Business Division.
The traditional spirit constantly promoted by Konosuke
Konosuke encouraged his employees to adopt the attitude of returning to the founding spirit. As a matter of fact, this was not the first or last time that he did this.
At the beginning of January 1951, celebrating the sixth new year after World War II, Konosuke declared that “Matsushita Electric will shed its old way of doing business and make a new symbolic start today,” while looking back on the past five-plus years as a difficult journey, which almost made him give up at times. He expressed his determination to work on the second foundation while staying true to his original aspirations, emphasizing that “Returning to the founding spirit shares the same concept as Matsushita Electric’s traditional spirit of starting anew every day.”
During the January 1971 Annual Management Policy Meeting, Konosuke took up the issue of a product boycott*4 led by consumer groups. He demonstrated his keen recognition of this emergency by stating, “We must be grateful for this harsh rebuke by society: It gives us an opportunity to reflect deeply on our current situation. Accordingly, we must abandon our mindset as a pioneer of electronics and make a fresh start as the new contender. We must view Matsushita Electric as a new company just founded today.”
At the January 1987 Annual Management Policy Meeting, Konosuke called the audience’s attention to the unprecedented crises facing the company, such as yen appreciation and trade conflicts, as well as recording decreased sales and profits for the first time in 11 years. He told his employees, “I encourage you to go back to the starting point and fulfill your duties with the mindset of returning to our founding spirit. Let’s do our best together,” and he promised to give behind-the-scenes support. At 92 years old, this was the last time he shared his passion from the podium.
Konosuke had led the development of Panasonic by advocating the attitude of returning to the founding spirit with each change in the business environment that had a material impact on the company’s management, and by devoting himself to driving reforms.
*4: A product boycott led by consumer groups over the problem of dual pricing of home appliances, particularly color televisions
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