matsushita electric industrial changes its name to the already in use consumer electronics brand name ‘panasonic’ in a move to consolidate under one strong brand. established in 1918, while the japanese company was using ‘national’ and ‘panasonic’ brand names over the period, it decided in 2003 to unify a global brand into ‘panasonic’ with a brand slogan ‘panasonic ideas for life.’ matsushita electric industrial co., ltd. is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. based in osaka, it recorded consolidated net sales of US$77.19 billion for the year (ended march 31, 2007).