(Agencies)
Updated: 2008-01-10 16:25

Like Akio Morita, the founder of arch-rival Sony Corp., Matsushita is one of the charismatic entrepreneurs credited with leading Japan's modernization and economic success after its defeat in World War II.

Matsushita, who died in 1989 at 94, has inspired Japanese corporate culture with his unpretentious view on life and work, and for insisting only good companies that contribute to social well-being can hope to succeed.

Known in Japan as "the god of management," he is famous for words such as "Business is people" and "Every person has a path to follow." He began his career as an apprentice at a brazier store when he was just 9 years old after his landowner family lost its fortune.

Although he was self-taught, the disarming Matsushita wrote books, founded a major publisher and became an award-winning philanthropist.

Despite the name change, the company isn't dropping his ideals.

In his New Year's greeting earlier this week, Ohtsubo, the president, said 2008 marks the 90th anniversary of the company's founding, and he reminded employees to stay true to the spirit of corporate ethics, social contribution and daily innovation. A copy of the speech was released to some reporters.

"Each and every one of us must do our utmost on the job, always asking our conscience whether we have strayed the path, while continuously pursuing profitability," Ohtsubo said.

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