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It's Official: Matsushita Becomes Panasonic Worldwide

6/26/2008 04:38:00 PM Eastern

Osaka, Japan — Matsushita Electric Industrial officially changed its name to Panasonic Corporation, effective Oct. 1.

The decision was announced during its annual shareholders’ meeting today. In addition, Matsushita announced its ticker symbol change on the New York Stock Exchange from “MC” to “PC,” also as of Oct. 1.

Matsushita changed its name in the United States to Panasonic Corporation of North America on January 1, 2005.

The brand changeover from National to Panasonic will be phased in across Japan starting Oct. 1, earlier than the original plan, and is expected to be completed by March 2010. Currently, the National brand is used for home appliances and housing equipment in Japan.

When it was first established in 1918, the company was known as Matsushita Electric Housewares Manufacturing Works, which was changed to Matsushita Electric Manufacturing Works in 1929. The company has been using the name Matsushita Electric Industrial Co., Ltd. since its incorporation as a joint stock corporation in 1935. While the company used the National and Panasonic brand names over a long period, it decided in 2003 to unify its global brand to Panasonic with the brand slogan “Panasonic ideas for life.”

With this company name change and brand unification, Panasonic will celebrate its 90th anniversary this year, the company said.

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