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Matsushita Electric Industrial Co
built 655 days ago
The Matsushita Electric Industrial Co., Ltd. is one of the largest consumer electronics firms in the world. Although the company's name is virtually unknown outside of Japan, the brand names under which Matsushita sells its products are household words. Panasonic, Technics, Quasar, and JVC are all manufactured by Matsushita. The company operates four main business segments: AVC Networks, Home Appliances, Industrial Equipment, and Components and Devices. Its product line ranges from color televisions and DVDs to washing machines, industrial robots, and semiconductors. In Japan, Matsushita is as well known as its brand names.
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Matsushita Electric Industrial Co., Ltd., best known for its Panasonic brand name, is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the Company recorded consolidated sales of US$71.92 billion for the fiscal year ended March 31, 2004. Matsushita's shares are listed on the Tokyo, Osaka, Nagoya, New York , Euronext Amsterdam and Frankfurt stock exchanges. For more information on the company and its Panasonic brand, visit the Matsushita website at http://www.panasonic.co.jp/global/top.html.
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In 1990, Matsushita Electric Industrial Co. made a tender offer for the common stock of MCA, Inc., a Delaware corporation, which resulted in Matsushita's acquisition of MCA. Subsequently, two lawsuits followed. First, a class action filed in Delaware, alleged that, among other things, Matsushita and MCA conspired violating Delaware law. The second suit, filed in federal court, alleged that Matsushita's tender offer violated certain Securities and Exchange Commission Rules promulgated under the Securities Exchange Act of 1934, which confers exclusive jurisdiction upon the federal courts in such suits. After Matsushita won the federal case, and while it was on appeal, the parties to the state action reached a settlement. The class-action settlement stated that class members who did not opt out of the class would waive all claims in connection with the tender offer, including those asserted in the federal action.
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Matsushita Electric Industrial Co., Ltd., through its subsidiaries, produces and sells electronic and electric products for consumer, business, and industrial uses. It operates in six segments: Audiovisual and Computer Products (AVC) Networks, Home Appliances, Components and Devices, MEW and PanaHome, JVC, and Other. AVC Networks segment offers televisions, DVD recorders and players, SD memory cards, digital and video cameras, and audio equipment, as well as notebook PCs and ruggedized notebook PCs, PC peripherals, mobile phones, cordless telephones and facsimile equipment, network cameras and TV door intercom systems, automotive electronics and electronic toll collection terminals, and product tracking systems and payment terminals. Home Appliances segment offers washing machines, vacuum cleaners, dishwasher/dryers, rice cookers, microwave ovens, induction-heating cooking equipment, refrigerators, room air conditioners, water heating systems, and compressors, as well as healthcare systems, lighting, and environmental systems. Components and Devices segment provides semiconductors, electronic devices, batteries, and electric motors that are used primarily in AV equipment, information and communication devices, home appliances, and industrial equipments. MEW and PanaHome segment manufactures electrical construction materials, home appliances, building products, electronic and plastic materials, and automation controls, as well as engages in detached housing, home remodeling, and asset and property management businesses.
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Panasonic, the leading brand by which Matsushita Electric Industrial Co., Ltd. is known, today announced its plans for the expansion of semiconductor production facility at its Tonami plant in Toyama Prefecture, Japan. The construction of the new facility which will produce image sensors for various digital appliances will start in September 2008 and production will be launched in August 2009. The company plans to invest 94 billion yen for the expansion.
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The story of Matsushita Electric began in Osaka, Japan in 1918, when Konosuke Matsushita invented a two-socket light bulb. He started producing and selling the light bulb from his own house, with just 3 employees.
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