Panasonic is a Japanese multinational corporation that produces electronics. It is Japan’s largest maker of electrical goods and the 89th biggest company in the world. The company was founded in 1918 by Konosuke Matsushita. It was called Matsushita Denki and started off making bicycle lamps. It changed its name to Panasonic in 2003. ‘Panasonic’ was the name of the audio speakers it produced in 1955. After WWII, the company started making a wide variety of household electronics and bicycles. It became a world leader in the former but was forced to give up making bicycles due to poor levels of profitability. Panasonic bought its rival Sanyo (which was started my Matsushita’s brother-in-law) in 2008. The merged corporation has annual revenues of over $110 billion. The company uses the slogan “Panasonic ideas for life”.