MATSUSHITA ELECTRIC by Po Chung and Saimond Ip

“When he launched his business, [Konosuke] Matsushita had four partners: his wife, Mumeno; her youngest brother, Toshio; and two former OELC [Osaka Electric Light Company] co-workers. . . .

. . . Most of the electrical appliance shops in Osaka weren’t keen to deal with a new, unheard-of manufacturer. Those that were prepared to give them a chance refused to pay for the goods. . . .

. . . An electric fan manufacturer wanting to upgrade its traditional ceramic plate to one made of the more ‘modern,’ state-of-the-art composite had heard about Matsushita’s operation. Matsushita had just mastered the technology for producing this material, which we now call plastic. . . . The Matsushita Electric Devices Manufacturing Works . . . expanded its product line to include an innovative plug and a two-way socket. . . . These new products became immensely popular, earning the company a reputation for high quality at low prices.

Over the years, Matsushita’s company went through some pretty tight times, but time and again its industry connections and product knowledge saved the day.”