Konosuke Matsushita “With a True Mission, We Can Sustain Our Journey”—Stories Behind Panasonic History Episode 08

Here, we share episodes about Konosuke Matsushita, the founder of the Panasonic Group, from our company’s historical records. In this episode, we introduce the true mission of Panasonic, proclaimed by Konosuke on May 5, 1932.

In the spring of 1932, 14 years after the founding of Matsushita Electric,^*1 37 year-old Konosuke awakened to the true mission of the company.

On May 5 of that year, he assembled 168 employees at the Central Electric Club,^*2 in Osaka’s Dojima district, to announce this mission.

“Only after there is spiritual peace of mind and a limitless supply of material goods will humanity achieve true happiness. The true mission of Matsushita Electric is to produce an inexhaustible supply of goods, thus creating peace and prosperity throughout society.”

Furthermore, Konosuke announced a vast 250-year plan to fulfill the mission, and read out the President’s Declaration.^*3

His employees were deeply moved, and one by one they ascended to the stage to express their determination. The venue was electric with shared fervor, and the ceremony, which began at 10 a.m., continued until 6 p.m. From this day forward, Matsushita Electric would go on to achieve remarkable growth.

*1 On March 7, 1918, Konosuke (23), his wife Mumeno (22), and her younger brother Toshio Iue (15) founded Matsushita Electric Housewares Manufacturing Works.
*2 A social exchange club established mainly by electric-light, -power, -railway, -equipment, and -wire company stakeholders.
*3 A summary of Konosuke’s thoughts and views on the true mission of Matsushita Electric. He called the experience of realizing this true mission Meichi, the awakening to the responsibilities as industrialists.

On May 5, 1968, fifty years after the founding of Matsushita Electric, a 50th anniversary ceremony was held at the Matsushita Electric Gymnasium (now Panasonic Arena), with 7,637 people in attendance.

Seventy-three-year-old Konosuke attended with his wife. Taking the stage, he began by saying, “Fifty years ago, Mumeno and I began our work in the humblest of circumstances, never dreaming the company would grow as it has today.” He continued:

Konosuke continued:

“Since then, Matsushita Electric has been managed in accordance with its true mission. The path has not always been smooth. Yet whenever we have faced difficulties, that mission has been our support. It was precisely because we have a true mission that we have been able to endure hardships and sustain our efforts.”

When he turned to Mumeno and acknowledged her lifelong support, saying, “Thank you for everything for so many years,” the hall was filled with resounding applause.

As the ceremony drew to a close, Konosuke said, “As stated clearly in the President’s Declaration, Matsushita Electric has a clear Basic Business Philosophy. I urge each of you to demonstrate your wisdom and capacities fully in accordance with it.” He again urged every employee to put the Basic Business Philosophy into practice: “A company should not pursue growth for its own sake, but should create value for the world and for people, and contribute to global prosperity. Matsushita Electric must unite the efforts of each and every one of its employees as an example to follow.” He concluded his remarks with a call for renewed resolve over the next fifty or even one hundred years, and expressed deep gratitude for the support he had received to date.

By pursuing the true mission that Konosuke Matsushita proclaimed on May 5, 1932, and the Basic Business Philosophy that is the foundation for realizing that mission, Panasonic has continued its journey to the present day.