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Company organized with Arataro Takahashi as chairman and Masaharu Matsushita as president
In July 1973, on the company's 55th anniversary, Konosuke Matsushita retired from active service, taking the position of executive adviser. He announced that the company would be run under the management of Arataro Takahashi, the new chairman, and President Masaharu Matsushita. To commemorate this event, the company made donations to social welfare projects in each prefecture of Japan, totaling ¥5 billion. Takahashi had joined the company in 1936, at the time of its incorporation. In the post of accounting director, he had put his stamp on the company's financial management system, which he helped set up to modernize its operations, an urgent need at the time. Takahashi had accumulated a long record of achievements, including successful negotiations with Philips for the Technical Cooperation Agreement, setting the foundation for Kyushu Matsushita Electric, promoting overseas business operations, and organizing the company's personnel and general administration. But more than anything else, he was someone who represented the full depth of the Panasonic spiritual tradition.
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