Establishment of Matsushita Electric Corporation of America (MECA)
Employees of MECA at a party in 1965.
Conducting business on a global scale
As it expanded during the postwar reconstruction years, Panasonic developed many new consumer products that enhanced the quality of life in Japan. Matsushita also felt that the company should extend its social contribution to people worldwide.
Although exports constituted ¥500 million in 1954, and rose to ¥3.2 billion in 1958, Matsushita still believed this was inadequate considering the size of the world market. He urged MET to help the company improve the suitability of its export products:
"Our export products may indeed have shortcomings, but if that's the case, the people at our trading company should be suggesting how to improve them; they should push the management of our factories until it hurts."
In September 1959, the company established Matsushita Electric Corporation of America (MECA) in New York. An international head office was set up in Japan to handle comprehensive export activities, including products, capital and technology.
Through these export activities, combined with the hard work of MET , the quality of Panasonic products, especially transistor radios, became world renowned. Exports increased at a rapid pace, reaching over ¥13 billion in 1981. The company adhered to its fair-profit policy in both domestic and export markets, and did not subscribe to aggressive price-cutting strategies.