Corporate History

In January 1961, Matsushita announced his resignation as president. "With everyone's cooperation, last year we achieved the aims of our five-year plan, and celebrated my 65th birthday. I have decided that the time is right for me to resign as president, and in the position of chairman of the board, take a back-seat, so to speak, in the company's management My retirement comes at a turning point in the development of the company, but I believe that our company will make great strides under its new management"
With Masaharu Matsushita, Konosuke Matsushita's son-in-law, as president, the company reunited its efforts to achieve its corporate mission, and entered a new phase of activity.
Japan's rapid growth had attracted worldwide attention. Konosuke Matsushita was written up in publications such as Life and The New York Times, and was featured on the cover of Time magazine.