By Patrick Avenell

NEW YORK: Panasonic’s Japanese parent company, formerly known as Matsushita Electrical Industrial, has changed its name to Panasonic Corporation. This change brings the Panasonic, National and Matsushita brands all under the same recognisable banner.

With the change in name also comes a change in the company’s New York Stock Exchange ticker symbol, which is now PC. In its first day of trading under this new moniker, the company gained 21 cents to close at $17.54.

In a statement on Panasonic’s global website, a spokesperson said, “With this company name change and brand unification, the company has renewed its commitment to bringing the achievements accumulated through the three different names of Matsushita, National, and Panasonic under the one single name of Panasonic to enhance its brand value”.