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The fantastic story of Panasonic, which was founded by a 23-year-old 100 years ago

The company survived economic crises and World War II, driven by a mission to make affordable mass-produced appliances.

Panasonic, a Japanese electronics company, began manufacturing parts and expanded to produce entire appliances. The company survived World War II while benefiting from post-war prosperity but also struggled with the political aftermath. It also weathered various economic crises. Panasonic has continually reoriented itself, expanded globally, and continues to look to the future of technology today, including its collaboration with Tesla. Below is a brief look back at the business's first period:

Panasonic was started on March 7, 1918, by Konosuke Matsushita, who was 23 centuries old. Before that, he lived with his wife, Mumeno Iue, and their teenage brother, Toshio, in a two-room tenement house. After working as an apprentice at a hibachi and bicycle manufacturer and at the Osaka Electric Light Company, Matsushita developed a new type of light socket design.

Although discouraged by his supervisor, Matsushita and his family tried to sell the devices from their home. They even sold some of their most valuable possessions to make ends meet. Meanwhile, Matsushita diversified its product offerings and eventually fulfilled an order for insulating panels for electric fans.

This allowed the trio to move into a larger home, and Matsushita Electronic Housewares Business Works was born. Matsushita quickly expanded the business's product line to include a top-mounted plug and a two-sided outlet. For the former, metal screws from used light bulbs were reused. By the end of 1918, the corporation had grown to 20 staff.

Matsushita was ahead of its time in its organization line. When the business was two years old and had 28 employees, he established the "Hoichi Kai," which translates as "One Step Society" It transported staff together to play sports and participate in other recreational activities.

Another unconventional leadership tactic Matsushita pushed was transparency. In the early 1920s, employee retention was a major problem in Japan, first because of competition between companies and then the economic downturn. So Matsushita embraced a philosophy of trust and absolute share trade confidence even with new employees to size trust at all company levels. By the end of 1922, the business had 50 employees and a new factory.

He said, "We will not cut production by laying off workers, but will make them work only half days. We will continue to pay them the same wages as now, but there will be no vacation. All staff should do their best to sell stock." According to Panasonic, the plan worked.

Around this time, the company began making irons and radios. In addition, Matsushita explained other of his business philosophies. A long-term visionary, he also proposed a 250-year plan for the company, divided into ten 25-year periods, which would be divided into a ten-year build-up period, a ten-year active period, and a five-year fulfillment period.