Panasonic's roots trace back to its founder, Konosuke Matsushita, and his vision to create what would benefit the greater good. Let's look at how the business he started to build a better light socket a century ago with just three workers has grown into a global company with over 250,000 employees and sales of more than $70 billion dollars a year.
From a young age, Konosuke devoted himself to learning business and the subtleties of human nature. One day, as he was watching streetcars go by, he had a vision of the new way forward. "The age of electricity is coming."
While Konosuke was working as an engineer for an electric light company, he came up with an idea to design and produce a new socket and started his own company, Matsushita Electric Appliance Manufacturing Works in a small rented house. Soon, others were drawn by his passion and ideas, and his business began to take hold.
Then, the wave of the Great Depression hit Japan. Executives in the company suggested laying off half of their work force, but Konosuke stood his ground against this and the recession. "The mission of a manufacturer is to overcome poverty." Konosuke strongly affirmed the company's true mission and invested in new businesses--anticipating the social, technological, and industrial progress to come.
World War II ended in 1945. Konosuke demonstrated his strong resolve for peace and national recovery to employees and the general public who were feeling weary and dejected after the war. "Production is the very foundation of our recovery." Sensing the dawn of a new era, he set out on a trip to the United States. He returned to Japan with determination to bring prosperity to the people of his country.
"We will create a new age of prosperity by making quality goods as plentiful as tap water." After creating the home electrification boom in Japan, Konosuke set a new goal to contribute to improving the lives of people around the world. Starting with Matsushita Electric Corporation of America, Matsushita Electric kept growing to become the multinational electronics company that is now known as Panasonic.
Konosuke's words and vision have been handed down through generations. More than 100 years after being founded by Konosuke, Panasonic continues to take on society's new challenges.
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