Panasonic's story begins on March 7, 1918, in Osaka, Japan, when 23-year-old Konosuke Matsushita, together with his wife Mumeno and her younger brother Toshio Iue, founded Matsushita Electric Housewares Manufacturing Works. Working from the ground floor of their rented home, Matsushita had developed an improved light socket, and though sales started slowly, the trio's persistence paid off — orders for the improved attachment plug soon came flooding in, and the company began to grow.

That early spirit of practical, everyday innovation defined Matsushita's approach for the rest of his life, guided by founding principles he established in 1929 that still shape the company today. Over the following decades, the business — renamed Panasonic globally in 1955, combining "pan" (all) and "sonic" (sound) for its early audio products — grew into one of the largest electronics manufacturers in the world, producing everything from radios and television sets to home stereo equipment, cameras, and household appliances.