Konosuke Matsushita
Profile
Performance in office
Tenure
Tenure
Background
In March 1918 he founded Matsushita Electric Housewares Manufacturing Works in Ohiraki-cho, Fukushima Ward, Osaka, and began making wiring devices. In May 1933 he moved the head office to Kadoma and adopted a divisional system. With the reorganization of December 1935 the business became Matsushita Electric Industrial Co., Ltd., and in May 1949 it listed its shares on the Tokyo and Osaka stock exchanges. He kept his shares after the listing and stood as the largest shareholder in November 1955. He was a founder-President who held both ownership and management.
Selection
After Japan's defeat, Matsushita Electric was subjected to seven restrictions, including designation as a restricted company, and was not even allowed to move its assets. It maintained that it was not a zaibatsu, and the zaibatsu designation was lifted at the end of 1949. Meanwhile, because he had directed military production, he was designated for the Class A purge, and he himself had nearly resigned himself to stepping down as President without protest. It was the company's labor union that campaigned for him to stay: its 15,000 employees collected signatures and seals one by one and lobbied the government and General Headquarters. A month later the designation was changed to Class B, and after review the purge of all directors was called off.
Initiatives
In December 1952 he launched Matsushita Electronics Corporation through a technical tie-up with Philips, separating four tube plants from the parent. In February 1954 he formed a capital tie-up with Victor Company of Japan. In January 1956 he announced a five-year plan to raise sales from ¥22.0 billion the previous year to ¥80.0 billion in five years, and five years later production and sales reached ¥105.0 billion. In 1957 he launched the National Shop Association, bringing small electrical stores nationwide into the group's network, and established Matsushita Communication Industrial in January 1958 and Matsushita Electric Corporation of America in September 1959.
Career
Career
Matsushita Electric Industrial
| Date | Position |
|---|---|
| Dec 1935 | President |
| Jan 1961 | Stepped down as President |