Overseas manufacturing rapidly built-up
Construction of factories that are welcomed around the world
In 1961, the company began to provide technical assistance to several overseas countries and construct plants abroad with the aim of expanding its operations on a global scale.
Culture festival at NTC,1973.
The company provided technical assistance in setting up radio assembly operations in Pakistan, the former South Vietnam and Uruguay. It also established National Thai Company(NTC) for battery production and provided the necessary technology. NTC was the company's first overseas plant to be built since the end of the war.
The following year, the company established Matsushita Electric (Taiwan) to produce radios and other household products. By 1967, the company had plants in Mexico, Puerto Rico, Costa Rica, Peru, Tanzania, the former Malaya, the Philippines and Australia.
These ventures were all based on Panasonic's basic management philosophy, and were operated to contribute to the prosperity of their host countries. The factories have been frequently praised as model enterprises.
Matsushita Electric (Taiwan),1973.
Employee assembly at Matsushita Electric(Taiwan),1973.
Company organized with Konosuke Matsushita as chairman and Masaharu Matsushita as president
Time magazine runs a cover story on Matsushita.
Leap into a new era
In January 1961, Matsushita announced his resignation as president. "With everyone's cooperation, last year we achieved the aims of our five-year plan, and celebrated my 65th birthday. I have decided that the time is right for me to resign as president, and in the position of chairman of the board, take a back-seat, so to speak, in the company's management My retirement comes at a turning point in the development of the company, but I believe that our company will make great strides under its new management"
With Masaharu Matsushita, Konosuke Matsushita's son-in-law, as president, the company reunited its efforts to achieve its corporate mission, and entered a new phase of activity.
Japan's rapid growth had attracted worldwide attention. Konosuke Matsushita was written up in publications such as Life and The New York Times, and was featured on the cover of Time magazine.
President Masaharu Matsushita visits television factory.
Matsushita in Life magazine.