Japanese electronics maker Matsushita Electric Industrial Co. has reportedly announced in a public broadcast on NHK TV that it is going to adopt one single brand name as Panasonic (News - Alert).

 

Matsushita’s President Fumio Ohtsubo addressed the matter at a news conference where he outlined the company’s strategy for the fiscal year.

 

Matsushita found in 1918 by Konosuke Matsushita, was respected in Japan for his managerial, manufacturing and political thinking. Konosuke Matsushita's struggling story and humanitarian views have been the pillar of the company.

 

To avoid consumer confusion, The company thought to change the name to Panasonic and the decision will mark a dramatic shift for the manufacturer not only for brand recognition but also intensifying global competition.

 

Matsushita also had a local brand called National, for products such as rice cookers, washing machines and refrigerators and this brand will be discontinued.