The 94-year Path of Konosuke Matsushita

0

1894

Nov

27

Konosuke is born in Wasamura, Kaisogun, Wakayama Prefecture (today's Negi, Wakayama City) as the youngest child (3 boys, 5 girls) of Masakusu and Tokue Matsushita

Aug  The First Sino-Japanese War breaks out

4

1899

Masakusu suffers financial loss speculating on the rice exchange; the Matsushita family moves to Wakayama City
Masakusu goes to Osaka to work in a private institute for children who are visually and hearing impaired

9

1904

Nov

Konosuke quits elementary school in his fourth year; he travels to Osaka alone and becomes an apprentice at the Miyata Hibachi Store; the following February, he moves to Godai Bicycle Shop

Feb  The Russo-Japanese War breaks out

15

1910

Jun
Oct

Konosuke leaves the Godai Bicycle Shop
Konosuke joins the Osaka Electric Light Company as a technician's assistant

20

1915

Sep

4

Konosuke marries Mumeno Iue (19)

22

1917

Apr
Jun






Dec

Konosuke is promoted to youngest-ever wiring inspector
Konosuke resolves to manufacture and sell an improved socket of his own design; resigns from the Osaka Electric Light Company. He begins producing the product in Ikaino, Osaka with help from Mumeno, her brother Toshio Iue (14) and two friends, but the product fails to sell
An unexpected order for electric fan insulation plates from Kawakita Denki saves his business

Nov  The Russian Revolution breaks out

23

1918

Mar

7

Konosuke establishes Matsushita Electric Housewares Manufacturing Works at 844 Ohiraki-cho, Nishinoda in Osaka's Kita Ward (today's Fukushima Ward). He begins doing business with help from Mumeno and Toshio Iue, with an improved attachment plug as his first product

Nov  World War I ends

25

1920

Feb

Mar

Konosuke establishes the trademark with the letter M and arrow
The Hoichi-kai Society employee association is launched; Konosuke sets up the Tokyo Office and sends Toshio Iue to manage it

Jan The League of Nations is formed

27

1922

Jul

The first head office and factory is completed, a live-in employee system is launched

Dec  The Soviet Union is formed

28

1923

Mar

Sep

Konosuke designs a bullet-shaped battery-powered bicycle lamp, begins production
A distributorship system for the lamp is implemented

Sep  The Great Kanto Earthquake occurs

30

1925

May


Year end

Konosuke assigns nationwide sales rights for his lamp to Yamamoto Trading Company; in October 1926, he buys back the rights
Konosuke runs for Osaka City Council and is elected with the second-largest vote total

Jul  Tokyo Broadcasting Station (today's NHK) begins full-scale radio broadcasting

32

1927

Jan
Feb

Apr
Nov

Dec

The Electric Heater Business Division is established
Matsushita Electric Housewares Manufacturing Works begins business dealings with Sumitomo Bank, Nishinoda Branch
The Super Electric Iron and square-shaped National Lamp go on the market
The first issue of Matsushita Denki Geppo ("Matsushita Electric Monthly") for retail stores is published
The first issue of Hoichikai Kaishi ("Hoichi-kai Society Journal") for employees is published

Mar  The Showa financial crisis begins

34

1929

Mar

Apr
May

The company is renamed Matsushita Electric Works and the Basic Management Objective and Company Creed are established
The company begins regular hiring of middle school and higher graduates
The second head office and factory is completed

Oct  The Wall Street Stock Exchange crashes; the global Great Depression begins

35

1930

Jan

Aug

An industry-first Hatsuni ceremony is performed at the Nagoya sales office; it becomes a company-wide event the following years
Kokudo Electric is established with a specialized radio manufacturer; the company begins manufacturing and sale of radios
The following March, the partnership is dissolved and Matsushita Electric begins manufacturing its own radios

36

1931

Sep

Oct

The company acquires Komori Dry Battery Works and starts in-house production of dry batteries
The company releases its first radio, the Tosengo

Sep  The Manchurian Incident breaks out

37

1932

May


Oct

5

The first foundation day ceremony is held and the True Mission of an Industrialist proclaimed This year is designated as the first year of Meichi ; May 5 is designated the foundation day of the company
Konosuke acquires key radio technology patents and makes them available to the industry free of charge

38

1933

May
Jul

The business division system is implemented; morning and evening assemblies commence
The head office is moved from Ohiraki-cho to Kadoma (the third head office)
The Five Principles of Matsushita Electric are established (and become Seven Principles in 1937)

Mar  Japan leaves the League of Nations

39

1934

Apr
Dec

An Employee Training Institute is opened
The first issue of Matsushita Denki Shonai Shinbun ("Matsushita Electric In-house Newsletter") is published

40

1935

Jul
Aug
Nov
Dec

The campaign for selling on fair prices is launched
Matsushita Electric Trading is established (derived from the Trading Department set up in 1932)
The retailer's association is launched; the Matsushita Electric Basic Internal Rules are formulated
Matsushita Electric Works is reorganized as joint-stock company; Matsushita Electric Industrial Co., Ltd. is founded and a division company system is implemented

41

1936

May

Tetsujiro Nakao and two other executive employees are sent on a visit to the US and Europe A weekly holiday system is introduced

Feb  The February 26 Incident occurs

42

1937

Jul  The Second Sino-Japanese War breaks out

44

1939

Mar

A notice entitled "Guideline for Management, Guideline for Economy, and Guideline for Employee Guidance and Self-Discipline" is issued

May  NHK starts experimental television broadcasting
Sep  World War II breaks out

45

1940

Jan
Aug

The first Annual Management Policy Meeting at the start of the year is held
A comprehensive mobilization for excellence in production is launched

46

1941

Dec  The Pacific War breaks out

48

1943

Apr
Oct
Dec

Matsushita Shipbuilding is established
Matsushita Aircraft is established
The company emblem is changed from the letter M and arrow to the combined three pine needles

49

1944

Nov

The major division companies are absorbed through mergers, and a production site system implemented

50

1945

Aug

One day after war's end on August 15, Konosuke proclaims the company's return to the production of consumer products and pledges to devote the company's energies to the nation's reconstruction

Aug  World War II ends
Oct  The United Nations is established

51

1946

Jan
Feb
Nov
Dec

The Matsushita Electric Worker's Union is formed
The Basic Management Objective and Company Creed are revised to their current wording
The PHP Institute is established; the following April, the first monthly PHP is issued
Toshio Iue leaves the company (in February of the following year, establishes SANYO Electric Works)
Beginning this year, a total of seven designations and restrictions are imposed on Konosuke and the company by the GHQ of the Allied Forces; 32 affiliated companies, including Matsushita Electric Works and Matsushita Electric Trading, are segregated

Feb  New yen bank notes are issued
Nov  The Constitution of Japan is promulgated (implemented in May of the following year)

53

1948

Oct

Salary payments are made in installments, continuing intermittently until June 1950

54

1949

Apr

Voluntary retirement is encouraged to facilitate reorganization and streamlining

Apr  The yen/dollar foreign exchange rate is set at 360 yen

55

1950

Mar
Jul

Aug

The business division system is revived
A Special Management Policy Meeting is held with an appeal for all-out efforts to rebuild the company; Konosuke discontinues PHP activities, except for magazine publication
Kochi National Products Sales is established as the first sales company in Japan

Jun  The Korean War breaks out

56

1951

Jan

Konosuke makes his first US visit; returns in April

Sep  Private sector radio broadcasting begins
The San Francisco Peace Treaty and Japan-US Security Treaty are signed

57

1952

Jan

Oct

The company enters into an alliance with Nakagawa Kikai (later Matsushita Refrigeration Company)
The company enters into a technical tie-up with Netherlands-based Philips; Matsushita Electronics Corporation is established in December

58

1953

Dec

The slogan "An endless supply of superior products for the world, and a richer electrified life for everyone" is established

Feb  NHK starts TV broadcasting

59

1954

Jan
Jun

The company enters into an alliance with Victor Company of Japan
Watashi no Ikikata Kangaekata ("My Way of Life and Thinking") is published

The Jinmu economic boom begins this year

60

1955

Dec

Kyushu Matsushita Electric is established

61

1956

Jan

May

The Matsushita Electric's Five-Year Business Plan is announced at the Annual Management Policy Meeting
Osaka Denki Seiki (today's Panasonic Ecology Systems) is established

Jul  The Economic Planning Agency in its white paper on the economy declares the end of the post-war period

62

1957

Nov

The National Shop (franchised dealers) system is started

63

1958

Jan

Matsushita Communication Industrial is established

Dec  Tokyo Tower is completed
The Iwato economic boom begins this year

64

1959

Sep

Matsushita Electric Corporation of America is established as the first post-war overseas sales company

65

1960

Jan

Nov

At the Annual Management Policy Meeting, Konosuke announces a five-day work week, to be implemented in five years
The Matsushita Electric's Five-Year Business Plan concludes with targets greatly exceeded

Sep  NHK and private stations start color TV broadcasting

66

1961

Jan
Aug
Dec

Konosuke steps down as president and becomes chairman, Masaharu Matsushita becomes president
Konosuke resumes PHP research
National Thai is established as the first post-war overseas manufacturing company

67

1962

Feb
Jun

Konosuke is introduced in a Time magazine cover story
The company enters into an alliance with Toho Electric (later Matsushita Graphic Communication Systems)

68

1963

Aug

Konosuke appears in an NHK special program, Conversation with Prime Minister Hayato Ikeda

Nov  The first TV satellite relay between Japan and the US is successful

69

1964

Jul

Aug
Sep

The conference to meet with the presidents of sales companies and distributors (Atami Conference) is held in Atami, Shizuoka Prefecture
Konosuke serves as the acting head of the Corporate Sales Division, promotes distribution reforms
Konosuke is introduced in a Life magazine feature story

Oct  The Tokaido Shinkansen goes into operation; the Olympic Games Tokyo 1964 are held

70

1965

Feb

New sales arrangements are implemented

The Izanagi economic boom begins this year

73

1968

Mar
May

Jul
Oct

Dec

Matsushita Electric House of History (today's Konosuke Matsushita Museum) opens
The company celebrates its 50th founding anniversary
The updated edition of Michi wo Hiraku ("The Path") is published
Konosuke becomes the first chairman of the Ryozen Memorial Society
Konosuke appears in an NHK special program, Conversation with Prime Minister Eisaku Sato: 100 Years after the Meiji Restoration
Konosuke announces intention to build factories in depopulated areas in Japan

75

1970

Mar

The Matsushita Pavilion goes on display at the Japan World Exposition (Expo '70), a time capsule is placed on display

Mar  The Japan World Exposition opens in Osaka
Aug  The dual pricing of home appliances becomes a problem; the following month, a consumer movement to boycott color television purchases begins

76

1971

Jan
Apr

A new distribution system is implemented to address the dual pricing problem
Konosuke becomes the first chairman of Asuka Preservation Foundation

Aug  The US announces dollar defense emergency measures

77

1972

Aug

Ningen wo Kangaeru ("Thoughts on Man") is published

May  Okinawa Prefecture returns to Japanese sovereignty

78

1973

Jul
Nov

Konosuke steps down as chairman, becomes executive advisor
Matsushita Electric non-consolidated sales top 1 trillion yen

Feb  The yen transitions to a floating exchange rate system
Oct  The first oil crisis occurs

79

1974

Dec

Kuzureyuku Nihon wo Do Sukuuka ("Japan at the Brink") is published

Japan experiences its first post-war year of negative growth this year

81

1976

Jun

Shin Kokudo Soseiron ("Essay on Nationwide Reform") is published

82

1977

Feb

Toshihiko Yamashita succeeds Masaharu Matsushita as president

83

1978

Jun
Oct

Jissen Keiei Tetsugaku ("Practical Management Philosophy") is published
Chinese Vice-Premier Deng Xiaoping visits the Television Business Division and meets with Konosuke; Konosuke visits China in 1979 and 1980

84

1979

Jun

The Matsushita Institute of Government and Management is established; an entrance ceremony is held the following April

Jan  The second oil crisis occurs

86

1981

May

5

The year marks the 50th year of Meichi (the revelation of our corporate mission)

88

1983

Apr
May

The Kyoto Colloquium on Global Changes is launched, Konosuke is inaugurated as chairman
The Japan Prize Foundation is established to create an international award, with Konosuke as its chairman

90

1985

Apr
Sep

Konosuke attends the first annual Japan Prize Award ceremony (attends annually until 1987)
Konosuke attends the Matsushita Group's joint funeral for victims of an aviation disaster

Sep  The Plaza Accord is signed; the yen subsequently appreciates rapidly

91

1986

Feb

Akio Tanii succeeds Toshihiko Yamashita as president

Apr  The Equal Employment Opportunity Act takes effect; the Maekawa Report proposes a shift to domestic demand expansion and international cooperation

92

1987

May
Sep

Konosuke receives the Order of the Rising Sun with Paulownia Flowers
Beijing Matsushita Color CRT (BMCC) is established as the company's first Chinese manufacturing company

Feb  IPO of NTT shares is undertaken
Apr  Japan National Railways is partitioned and privatized

94

1989

Apr

27

Konosuke passes away at 10:06 a.m.

Jan  IPO of NTT shares is undertaken
Apr  Consumption tax is introduced
Dec  The Cold War ends; the Nikkei Stock Average reaches an all-time high