Osaka, Japan — Matsushita Electric Industrial said its board will officially submit a proposal at a general meeting of shareholders, to be held on June 26, to change its name to Panasonic Corporation worldwide.
The change will be proposed during the June 26 meeting to amend its Articles of Incorporation to unify all of its brands under the Panasonic brand, and will be effective on Oct. 1.
In a release, the company said 2008 marks its 90th anniversary since its establishment, in 1918, as Matsushita Electric Devices Manufacturing Works. It was incorporated in 1935, at which time the trade name was changed to Matsushita Electric Industrial Co., Ltd.
Through this trade-name change, as well as the unification of brands, the company aims to consolidate the accumulated resources of all business activities throughout the group under one brand, Panasonic, thereby enhancing the value of the corporate brand.