Panasonic Corporation, formerly Matsushita Electric Industrial Co., Ltd. is a major Japanese multinational electronics company, headquartered in Kadoma, Osaka. It was founded by Kōnosuke Matsushita in 1918 as a lightbulb socket manufacturer. In addition to consumer electronics of which it was the world’s largest maker in the late 20th century, Panasonic offers a wide range of products and services, including rechargeable batteries, automotive and avionic systems, industrial systems, as well as home renovation and construction. Panasonic has a primary listing on the Tokyo Stock Exchange and is a constituent of the Nikkei 225 and TOPIX indices. It has a secondary listing on the Nagoya Stock Exchange.In 1927, Matsushita adopted the brand name “National” for a new lamp product. In 1955, the company began branding audio speakers and lamps for markets outside Japan as “PanaSonic”, which was the first time it used the “Panasonic” brand name. The company began to use the brand name “Technics” in 1965 for audio equipment. The use of multiple brands lasted for some decades. While ‘National’ had been the premier brand on most Matsushita products, including audio and video, ‘National’ and ‘Panasonic’ were combined in 1988 as National Panasonic after the worldwide success of the Panasonic name. In May 2003, the company announced that “Panasonic” would become its global brand, and launched the global tagline “Panasonic ideas for life.” The company began to unify its brands to “Panasonic” and, by March 2004 replaced “National” for products and outdoor signboards, except for those in Japan. In January 2008, the company announced that it would phase out the brand “National” in Japan, replacing it with the global brand “Panasonic” by March 2010. In September 2013, the company announced a revision of the decade-old tagline to better illustrate the company vision: “A Better Life, A Better World.” In November 1990, Matsushita agreed to acquire an American media company MCA Inc., the predecessor of both Universal Music Group and Universal Pictures, for US$6.59 billion. The acquisition was preceded by the takeover of Columbia Pictures by Sony, the arch rival of Matsushita. At the time, Matsushita had dominated the home video market with the company’s leading position in the electronics market. It had gotten strengthened by VHS, the de facto standard of consumer videotape that Matsushita and JVC co-introduced. Inspired by Sony’s bold quest for Hollywood, Matsushita believed it could become a leader in the film industry as well. However, Matsushita subsequently sold 80% of MCA to Seagram Company for US$7 billion in April 1995, demoralized by the high volatility of the film industry.