Konosuke Matsushita shows a calligraphy work. (Photo/Courtesy of Panasonic Corporation)
"We didn't expect that China could progress so fast. Political stability is a prime requisite, which is the main reason China has achieved so much.
"In ancient history Japan learned a lot from China. Japan and China, as President Xi Jinping says, are neighbors that cannot move away from one another. If we work together, we can achieve great things that benefit both us and the world at large. On the other hand, if we are at loggerheads it spells disaster for us and the rest of the world."
Sadaaki Yokoh, head of Panasonic's China and Northeast Asia section, said he is confident about China's further growth and sees more opportunities for Panasonic as China continues to develop.
"We want to use Panasonic's environmental protection technologies to help build a beautiful China," Yokoh said.
"And we also want to serve every single Chinese person with our products, promoting collaboration between our two countries."
Panasonic's business expansion in China has, in one way or another, encouraged the Chinese government on the road to reform.
The company set up factories across China in the 1990s and wanted to have a China-based holding company to take care of all its China subsidiaries, those involved in development, manufacturing, distribution and after-sales service.
Panasonic's request to set up the holding company was a difficult issue for China, where fears of capital outflow meant the market was closed to foreign capital businesses. Thanks to Panasonic's persistent lobbying, it was allowed to set up Matsushita Electric (China), better known as CMC, in 1994.
