Panasonic Manufacturing Philippines Corporation

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Panasonic

Panasonic Manufacturing Philippines Corporation is a publicly-listed manufacturing company originally incorporated as Festival Manufacturing Corporation in 1963. PMPC is a subsidiary of Panasonic Corporation and is engage in manufacturing, importing and distributing of electronic, electrical, mechanical, electro-mechanical appliances, other types of machinery, parts and components, battery and other related products bearing the "Panasonic" brand. PMPC is the first Filipino-Japanese joint venture operation in the area of consumer electronics in the country. The company also has 40% equity in Precisions Electronic Realty Corporation which is engaged in the business of realty brokerage. At the end of March 2010, PMPC employs a total of 628 employees. As of April 10, 2011, PMPC has a total market capitalization of P2.5 billion and share price of P6.00.

Contents

History

Panasonic manufacturing plant

PMPC's history dates back in the early 60s when Mr. Jesus V. del Rosario established the Distributors and Manufacturers Corporation (DMC), producing radios and radio phonos at the sala of his house along San Luis Street in Pasay City with only handful workers.

After a year, DMC's manufacturing department was made a separate company and was named Festival Manufacturing Corporation (FMC). Consequently, FMC changed to Precision Electronics Corporation (PEC) in 1965 to signify its no nonsense determination to produce products by ways no less than precision manufacturing.

In 1983, the company’s shares were listed on the Philippine Stock Exchange. To date, the shares are traded under the stock symbol PMPC.

The name PEC remained even after the joint venture between PEC and Matsushita Electric Co. Ltd. of Japan (MEI) was formalized in 1967. However, on the occasion of the company's 25th Anniversary in 1992, the name Matsushita Electric Philippines Corporation was adopted.

About the name

In October 2003, PMPC adopted the single brand strategy of MEI and stopped using "National" brand, as Panasonic became the unified global brand. Following the success of the brand unification, Matsushita Group continued to solidify its directions and vision towards a new era. One of which was by harmonizing also the corporate name and brand of Matsushita companies outside Japan. Thus, effective April 1, 2005, the company officially changed its corporate name from Matsushita Electric Philippines Corporation to Panasonic Manufacturing Philippines Corporation (PMPC).

Under the new corporate name, the company hopes to reinforce its operation and position Panasonic as an aggressive and competitive manufacturing company that is looking forward to the future with confidence. Consequently, by doing so, PMPC can focus its efforts and resources in serving both the customers and society.

Products

Panasonic Manufacturing Philippines Corporation products ranges from Cordless Phones, batteries, flashlights, home appliances, semiconductors, digital cameras, television, etc. The company is also producing one of the best HDTV brand in the world, the "Viera".

Board of Directors

  • Masaru Maruo - Chairman of the Board
  • Toshihiko Iwamoto - Executive Director
  • Shigeyoshi Terawaki
  • Miguel P. Castro
  • Masao Okawa Director
  • Evangelista C. Cuenco Independent Director
  • Jose C. Aguirre Independent Director

Major shareholders

Corporate Social Responsibility

PMPC also plays an active role in the country’s social development. Among its projects are:

Panasonic Scholarship Program for graduate study

Panasonic Scholarship Program is launched in 2000. The graduate study in Japan is aimed at providing opportunities to promising future leaders to do further study in graduate schools.

Panasonic Wheel-a-Hope

Panasonic Wheel-a-Hope is aims in creating a community in which every one could embrace diversity and recognize the potential and ability, as well as the value of every individual person.

Panasonic Medical Mission

PMPC in partnership with Operation Blessed Foundation provided free medical, dental, optical, surgical and other services to the residents of Mabitac, Laguna, and Pililla, Rizal. More than 2,000 people benefited from the project.

Munting Handog Laking Tuwa Ang Dulot Project

The Munting Handog, Laking Tuwa ang Dulot promotes the volunteerism among employees.

Panasonic Scholarship Program for Philippine colleges and universities

The Panasonic Scholarship Program provides deserving and promising students all over the country the chance to complete college degrees.

Reference

  1. "Documenting Sources from the World Wide Web." Panasonic Manufacturing Philippines Corporation, http://panasonic.com.ph/aboutus/abt.htm (July 10, 2007)
  2. "Documenting Sources from the World Wide Web." Panasonic Philippines plant image, http://panasonic.co.jp/mbi/company/en/business/cb_0001.html (July 10, 2007)

Citation

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