Sanyo

Management Philosophy: We are committed to becoming an indispensable element in the lives of people all over the world. The Basic Meaning: It calls for the company to unite all its business entities as one corporate group that wins the heart and trust of the people all over the world by developing unique technologies and offering superior products and sincere services. Key Dates: Several operations of Matsushita Electric are turned over to Toshio Iue, who forms Sanyo Electric Works. Sanyo begins working with U.S. firm Emerson Electric on reviving Fisher Corporation. Sanyo's U.S. affiliate merges with Fisher to form Sanyo Fisher (U.S.A.) Corporation. Nickel-metal hydride batteries are introduced; company develops CFC-free absorption-type chiller/heaters and refrigeration systems. SANYO Electric Co., Ltd. (Sanyo) is a leading global manufacturer of numerous electronic products. The company produces video equipment, including televisions, VCRs, and video cameras; audio equipment, including CD players, minidisc players, and car stereos; home appliances, including refrigerators, vacuum cleaners, small kitchen appliances, and dehumidifiers; industrial and commercial equipment, including refrigerator/freezer supermarket showcases, vending machines, incubators, and golf carts; and information systems and electronic devices, including personal computers, copiers, point-of-sale systems, and semiconductors. A particular area of emphasis is that of environmentally friendly products, such as rechargeable batteries, solar cells, and CFC-free compressors for refrigerators and air conditioners. Another growth area is multimedia products, such as digital cameras, LCD projectors, and digital cellular phones. Sanyo has about 150 subsidiaries and affiliates in 27 countries; about half of overall sales are generated outside of Japan, with about 20 percent originating elsewhere in Asia, about 17 percent in North America, and about eight percent in Europe. Sanyo was born in the shadow of the giant Matsushita Electric Industrial Co., Ltd., one of Japan's largest industrial institutions. Sanyo's founder, Toshio Iue, was the brother-in-law of Konosuke Matsushita and an original partner in Matsushita Electric. Shortly after World War II, the occupation authority ordered Matsushita broken up into two smaller companies as part of its industrial decentralization policy. In 1947 several of Matsushita's operations were turned over to Iue, who set up his own company to produce and export bicycle lamp generators. Dreaming of one day having 100 factories around the world, Iue called his company SANYO Electric Works, 'Sanyo' being a somewhat generic name that means 'three oceans'--referring to the Pacific, Atlantic, and Indian Oceans. On April 1, 1950, after paying off its unsecured loans, the company was incorporated as SANYO Electric Co., Ltd. It went public in 1954. The dynamic economic atmosphere in Japan after the Korean War raised personal incomes and stimulated consumer demand. Sanyo grew modestly at first, offering only a limited line of simple electrical appliances. To boost its sales through greater name recognition, Iue asked Matsushita for permission to use that company's brand name, National. With only minimal benefit from Matsushita's broad marketing network, Sanyo widened its product line in the early 1950s to include radios, tape recorders, and even televisions. The company later began marketing products under its own name through independent retailers. Toshio Iue believed in a unique management philosophy called the 'white paper' method. Similar to the process by which parliamentary governments announce general policy goals and invite criticism or discussion, the white paper system encouraged a consensus approach to management. As the Japanese economy began to grow even faster during the mid-1950s, consumers, long deprived of even simple amenities, expressed increasing demand for household appliances. Sanyo was well established in the m