Masaharu Matsushita
Profile
Performance in office
Tenure
Tenure
Background
He became President in January 1961. As of November 1960, just before he took office, the major shareholders were led by Konosuke Matsushita with 6.6%, followed by Mitsubishi Trust Bank with 5.8%, Sumitomo Life with 3.9%, Sumitomo Bank with 3.0% and Toyo Trust Bank with 3.0%; shares in his own name did not appear in the top ten. While he ran the company as a member of the founding family, ownership was held by the founder personally and by financial institutions.
Selection
His predecessor was founder Konosuke Matsushita, who became Chairman. The founder's involvement continued after the handover. When the home appliance market soured in 1964 in the backlash after the Tokyo Olympics and many sales companies and agents sank into the red, it was Chairman Konosuke who gathered the presidents of sales companies and agents from across the country at the New Fujiya Hotel in Atami in July that year. After the meeting Konosuke took over as acting head of sales in place of Executive Vice President Hiroshi Yasukawa, who was on sick leave. The appointment of Toshihiko Yamashita as President in February 1977 was also decided by three men: Konosuke, Masaharu Matsushita and Chairman Arataro Takahashi.
Initiatives
During his tenure he built vertical integration by carving out manufacturing operations as subsidiaries. He established Matsushita Kotobuki Electronics Industries in November 1969 and Matsushita Electronic Components in January 1976, separating electronic component manufacturing. In January 1977 he established Matsushita Housing Products and Matsushita Industrial Equipment, transferring manufacturing of housing equipment and industrial equipment to them. Each company was run on a self-supporting basis as an extension of the divisional system. For financing, the company listed its shares on the New York Stock Exchange in December 1971 and in December 1975 issued $100 million in face value of US dollar-denominated convertible bonds.
Career
Career
Matsushita Electric Industrial
| Date | Position |
|---|---|
| Jan 1961 | President |
| Feb 1977 | Stepped down as President |