Matsushita Konosuke Founder of Matsushita Electric Industrial Corporation (Panasonic) Date of Birth: 27.11.1894 Country: Japan

Biography of Konosuke Matsushita

Konosuke Matsushita, the founder of Matsushita Electric Industrial (Panasonic), was born on November 27, 1894, in Wakayama, Japan. He was born into a large family of landowners. However, when he was four years old, the family went bankrupt and had to move from a large house to a small apartment.

At the age of nine, Konosuke dropped out of school and started working at a charcoal factory, and later at a bicycle factory. It was at the bicycle factory that he learned the intricacies of turning. At the age of fifteen, Konosuke became interested in electricity, which was rare at the time, and became an assistant to an electrician at Osaka Electric Light Company. Despite quickly advancing in his career and becoming an inspector, Konosuke aspired to start his own business.

After working at Osaka Light for seven years, Konosuke left the company in 1918 and founded his own company, Matsushita Electrical Company, with an initial capital of less than $50. The company focused on manufacturing new models of electrical sockets and plugs. Although they produced a few units within four months, they did not find success in the market. Konosuke worked as a traveling salesman, trying to sell his products. Due to low income, half of the employees left the company, leaving only Konosuke, his wife, and his brother-in-law.

Undeterred, Konosuke took on the task of designing his own electrical products. Soon after, Kawakita Electric placed a large order for 1000 insulation boards. Despite tight deadlines, Konosuke completed the order on time and made a substantial profit of around 160 yen. The client was impressed with the quality and speed of Matsushita's work, leading to an even larger order. This experience taught Konosuke that to outperform his competitors, he needed to focus on improving existing models and making them more affordable, rather than creating unique innovations.

In 1922, the breakthrough for Matsushita Electric Industrial came with the introduction of battery-powered bicycle headlights. Initially, the market was skeptical of this new product, but it soon became popular not only among cyclists but also as a replacement for kerosene lamps in households. Recognizing this, Konosuke expanded production to include table lamps, giving rise to the first brand of the company, National.

The next step was a collaboration between Matsushita Electric Industrial and the Philips conglomerate, which elevated the production of televisions and radios to a new level of quality. Eventually, a new brand, Matsushita Electric Industrial - Panasonic, was established. Konosuke led the corporation until the mid-1980s and became an iconic figure in the global business world.

Today, Matsushita Electric Industrial has branches in nearly 50 countries worldwide and covers a wide range of consumer electronics. Konosuke Matsushita passed away on April 27, 1989.