Opening the Matsushita Institute of Government and Management: in 1980 at age 85

In 1978, Konosuke stated that, "If we set our sights on material and spiritual abundance for our citizens, we must also train teachers for the task." So he spent 7 billion yen from his private funds to establish the Matsushita Institute of Government and Management, which opened in April 1980. The purpose of the institute was to search for basic ideas that would contribute to the progress and development of Japan in the 21st century, and develop leaders capable of making the ideas a reality.