The Founder Konosuke Matsushita

At the time, many electrical products were considered luxury items, and were too expensive for most consumers. Konosuke set his sights on making electrical appliances affordable to the average consumer, and established a separate division to design electro thermal products, and to develop an electric iron with mass-market appeal.
Three months later, the National "Super-Iron" was developed. Although the electric iron market was estimated at 100,000 units per year, Konosuke ordered the manufacture of 10,000 National Super-Irons per month. He knew that mass production would lower the unit cost, and that many consumers would buy an iron as soon as the price was within reach, expanding the market. The National Super-Iron was launched at 3.2 yen, well below the five yen price tags of competitors' irons, and soon it proved to be another best-seller for the company.
In 1929, Konosuke created the Basic Management Objective and Company Creed to guide Panasonic’s growth. Commenting on the future of the company, he said, “ Our business is something entrusted to us by society. Therefore, we are duty-bound to manage and develop the company in an upstanding manner, contributing to the development of society and the improvement of people’s lives.”