Effective today, October 1, 2008, Matsushita Electric Industrial Co., Ltd. has become Panasonic Corporation and its ticker symbol on the New York Stock Exchange has been changed to PC from MC.
The name change also took effect for some of the group companies that used the names Matsushita or National. Along with the name change, Panasonic is working on the brand changeover from National to Panasonic in Japan, aiming to complete by the end of March 2010.
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 used the name Matsushita Electric Industrial Co., Ltd. after 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 position Panasonic as its global brand with the brand slogan "Panasonic ideas for life."
"With this company name change and brand unification, the company has renewed its commitment to bringing the achievements accumulated through the three different names of Matsushita, National, and Panasonic under the one single name of Panasonic to enhance its brand value," Panasonic said in a statement.