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Based in Osaka, Japan, Panasonic Corporation (formerly Matsushita Electric Industrial Co., Ltd.) is one of the world's leading manufacturers of electronic and electrical products, systems, and components for a wide range of consumer, business, and industrial uses. Panasonic emphasizes the use of sophisticated electronics, precision, and leading-edge technology to develop its products. Over the past seven decades, the company has grown from a small domestic household electrical equipment manufacturer into a comprehensive manufacturer with global operations. Sales and marketing are handled mainly through its sales subsidiaries and affiliates located in respective countries or regions in coordination with business domain companies. In some countries, sales are handled through independent agents or distributors, and certain products are sold on an original equipment manufacturer (OEM) basis and marketed under the brands of the third parties. The company also sells directly to large-scale consumers, such as the Government and corporations. The company has products that are also marketed worldwide under region-specific brands, such as "National", mainly for home appliances sold in Japan, and "Technics" for certain hi-fi products. Also, some of Panasonic's subsidiaries use their own brand names, such as "Quasar," "Victor," "JVC," and "PanaHome." In Japan, products are sold through several channels, each established according to the type of products or customers. On October 1, 2008, the company changed its named from Matsushita Electrical Industrial Co, Ltd to Panasonic Corporation to unify its corporate brands to the Panasonic' brand across the world.
Panasonic's business segments are organized into six categories AVC Networks (41.2% of fiscal 2007 revenue), MEW and PanaHome (18.6%), Home Appliances (13.5%), Components and Devices (12.4%), JVC (7.0%), and Other (7.3%). AVC Networks products include video and audio equipment (TVs, VCRs, camcorders, digital still cameras [DSCs], DVD players and recorders, and other personal and home audio equipment) and information and communication equipment (personal computers [PCs], PC displays, CD-ROM, DVD-ROM, DVD-RAM, and other optical disk drives, hard disk drives [HDDs], copying machines and printers, facsimile equipment, cordless telephones, cellular phones, other mobile communications equipment, car audio, and navigation equipment). Effective April 1, 2007, the healthcare equipment business shifted to AVC Networks from Home Appliances. Home Appliances products include refrigerators, room air conditioners, washing machines, clothes dryers, vacuum cleaners, electric irons, microwave ovens, cooking appliances, dishwasher/dryers, and household equipment (e.g., kitchen fixture systems). Components and Devices include semiconductors, general components, display devices, batteries, and electric motors. MEW and PanaHome includes housing/building-related products, personal-care products, devices and plastic materials, healthy-life products, exterior and interior furnishing materials, bathroom units, molding compounds, laminates, relays, connectors, housings, etc. Victor Company of Japan, Ltd. (JVC), a consolidated subsidiary of Panasonic, issued and allocated its new shares to third parties. As a result, Panasonic's ownership ratio of equity of JVC decreased to 36.8% from 52.4%, and JVC became an associated company under the equity method from a consolidated subsidiary in the second quarter of fiscal 2008. JVC products included consumer VCRs, camcorders, TVs, stereo hi-fi equipment, DVD products, and professional electronic equipment and systems. The Other category includes factory automation equipment, industrial robots, welding machines, and other industrial equipment.
Panasonic conducts business on a global basis with about one-half of its business coming from overseas. Geographically, Panasonic derives revenue from Japan (50.7% in fiscal 2007), and overseas (49.3%). Overseas revenue includes Americas (15.2%), Europe (13.3%), Asia (11.7%), and China (9.1%). Globally, Matsushita has 567 consolidated companies and 140 companies that use equity accounting.
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