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Matsushita Shareholders Approve Name
Change to Panasonic Corporation
July 1, 2008
Source: Panasonic
Matsushita Electric Industrial Co., Ltd.
(Matsushita [NYSE symbol: MC]), best known for its Panasonic
brand products, today announced that its shareholders have
approved a proposal to change the company's name to "Panasonic
Corporation", at the 101st Annual Shareholders' Meeting
held today. The change will become effective from Oct. 1,
2008, and will also apply to some of the group companies currently
using the names Matsushita or National. The shareholders of
each of these companies approved the change, effective from
Oct. 1, 2008. In addition, Matsushita announced its ticker
symbol will change on the New York Stock Exchange from "MC"
to "PC" as of Oct. 1, 2008.
The brand changeover from National to Panasonic will be phased
in across Japan commencing Oct. 1, 2008 and is expected to
complete within the fiscal year ending 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 subsequently 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 has 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, the Panasonic
Corporation will celebrate its 90th anniversary this year.
The company will bring the achievements accumulated through
the three different names of Matsushita, National, and Panasonic
under the single umbrella name of Panasonic.
The new Panasonic Corporation has renewed its group-wide commitment
to putting the company's management philosophies into practice
throughout the world — to enhance its brand value and
strive to become a globally excellent company.
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