The company was founded in 1918 by Matsushita Konosuke to manufacture and market the electric lamp sockets and plugs he designed. It was incorporated in 1935, when it took its present name, and began expanding rapidly into a number of varied electrical product lines. During the 1930s it added such electrical devices as irons, radios, phonographs, and light bulbs. In the 1950s it began producing transistor radios, television sets, tape recorders, stereo equipment, and large household appliances. During the next decade it added microwave ovens, air conditioners, and videotape recorders. Most of its products are marketed under the brand names Panasonic, Quasar, National, Technics, Victor and JVC.

Nonconsumer products include minicomputers, telephone equipment, electric motors, chemical and solar batteries, and cathode-ray tubes. The company also has developed and marketed electronic measuring and timing instruments, copy machines, automatic traffic control devices, office automation equipment, and products in the communications, broadcasting, and solar energy fields. The company is noted for its heavy investment in research and development; in addition to its main research laboratories, each Matsushita manufacturing division is backed by its own research team.

The bulk of the company’s sales comes from foreign markets in Europe and North America, among other regions. It has manufacturing and sales subsidiaries in a number of overseas markets, and handles exports and imports through the Matsushita Electric Trading Company, Ltd. 

Matsushita Electric Trading Company, Ltd. is now PANASONIC CORPORATION.

NIPPO Batteries was incorporated on 15th July, 1972. The object of company is to manufacture all types of cells & batteries including manganese dioxide dry cells & batteries & their components. Battery cells are sold under the brand name "NIPPO". The Company was promoted by P. Obul Reddy, S.R. Jiwarajka (Co- Founder of RAL Group) and Matsushita Electric Industrial Co., Ltd., Japan, (MEI). 

The Company entered into a technical and financial collaboration agreement with Matsushita Electric Industrial Co., Ltd., Japan, who agreed to supply equipment and plant, provide technical know-how for the operation of the plant and to subscribe to the equity capital of the Company.