Panasonic factory circa 1924.
In February 1920, Matsushita designed a trademark for the company consisting of the letter M overlaid with an arrow and surrounded by a wide diamond. To him it symbolized reaching a target, overcoming whatever obstacles might be encountered along the way.
In March, he sent Toshio lue, then 17, to Tokyo to expand the company's sales there. Though the economy worsened, the company continued to grow as sales of its products increased.
The company had rented the neighboring house to expand production, but was unable to keep pace with demand. So, in 1922, Matsushita leased a 230m2 site nearby, completing construction of a factory and office in July. By the end of the year, employees numbered more than 50.
In the four years since the company's inception, it had become a full-fledged business with its own factory.
Corporate emblem with the letter M and arrow.
Employees at the Tokyo office, reopened in 1924 after the Great Kanto Earthquake of the previous year.