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Matsushita Electric Industrial Co

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BUSINESS
June 8, 1993
The release of "Jurassic Park" affects several divisions of Matsushita. The picture is being distributed by its Universal/MCA unit, but there will also be tie-ins with Universal theme parks and products such as Panasonic. Matsushita, whose chairman is Masaharu Matsushita, is one of Japan's largest electronics manufacturers. It marks its 75th year facing a global recessionary climate and an uncertain Japanese economy. Net income was down 71% from last year at $331 million.
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BUSINESS
January 13, 2001
Matsushita Electric Industrial Co. said it will shut a North Carolina factory that makes air-conditioner compressors, eliminating 530 jobs, because of declining U.S. air-conditioner production. Matsushita, the world's No. 1 consumer electronics maker, is closing its Matsushita Compressor Corp. of America unit, which it established in 1989. The cuts represent about 2% of the Japanese company's U.S. work force. The company plans to move U.S.
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BUSINESS
July 25, 1997 | Bloomberg News
3DO Co. said it gave up the right to collect royalties on a new video-game technology licensed to Matsushita Electric Industrial Co. In exchange, the Japanese electronics giant gave back 3.2 million 3DO shares acquired in 1993, when it invested in the start-up company. The agreement ends a December 1995 contract between the companies in which 3DO licensed its M2 video-game hardware to Matsushita. However, the Japanese company never announced any plans to bring M2 products to market.
BUSINESS
April 1, 1996 | Times Staff and Wire Reports
Matsushita, MCA to Form Videodisc Unit: Matsushita Electric Industrial Co. and MCA Inc. will form a Los Angeles company to produce films for videodisc systems, according to the Japanese newspaper Nihon Keisai Shimbun. The company, Digital Video Compression Corp., will be owned by Matsushita and staffed by employees from Matsushita and MCA, the newspaper said.
BUSINESS
January 13, 2001
Matsushita Electric Industrial Co. said it will shut a North Carolina factory that makes air-conditioner compressors, eliminating 530 jobs, because of declining U.S. air-conditioner production. Matsushita, the world's No. 1 consumer electronics maker, is closing its Matsushita Compressor Corp. of America unit, which it established in 1989. The cuts represent about 2% of the Japanese company's U.S. work force. The company plans to move U.S.
BUSINESS
July 25, 1997 | Bloomberg News
3DO Co. said it gave up the right to collect royalties on a new video-game technology licensed to Matsushita Electric Industrial Co. In exchange, the Japanese electronics giant gave back 3.2 million 3DO shares acquired in 1993, when it invested in the start-up company. The agreement ends a December 1995 contract between the companies in which 3DO licensed its M2 video-game hardware to Matsushita. However, the Japanese company never announced any plans to bring M2 products to market.
MAGAZINE
November 18, 1990
Unhappily, Dolan's question "Who owns Yosemite?" may be answered before the contract renewal date in 1993. With the foregone conclusion of acquisition of MCA by the giant Matsushita Electric Industries Co. of Osaka, Japan, the control, as it now stands, of "the most scenic valley in the world," a national shrine and symbol of the beauty and majesty of our land, will no longer be in the hands of its rightful owners--the people of America. RALPH FRYE San Bernardino Maura Dolan responds: Word of Matsushita Electric Industrial Co.'s interest in purchasing MCA Inc. did not surface until after the Los Angeles Times Magazine had gone to print with its Yosemite package.
BUSINESS
April 1, 1996 | Times Staff and Wire Reports
Matsushita, MCA to Form Videodisc Unit: Matsushita Electric Industrial Co. and MCA Inc. will form a Los Angeles company to produce films for videodisc systems, according to the Japanese newspaper Nihon Keisai Shimbun. The company, Digital Video Compression Corp., will be owned by Matsushita and staffed by employees from Matsushita and MCA, the newspaper said.
BUSINESS
October 21, 1995 | From Times Wire Services
Intel Corp., the world's largest maker of computer chips, said Friday that it will build new plants in Israel, Ireland and Malaysia at a cost of more than $3.1 billion to meet an expected surge in demand. Meanwhile, Matsushita Electric Industrial Co. announced that it will spend more than $600 million to expand a plant in Puyallup, Wash., and will build a new factory in Indonesia as part of its strategy to nearly double chip production by the beginning of the next century.
BUSINESS
June 20, 1995 | From Times Wire Services
The U.S. Supreme Court on Monday denied an appeal by Dean Witter, Discover & Co. over its antitrust lawsuit against Visa U.S.A., allowing Visa to exclude from its franchise those banks that are owned by the rival card issuer. Separately, the court agreed to review a lower federal court ruling refusing to recognize the settlement of shareholder litigation stemming from Matsushita Electric Industrial Co.'s 1990 acquisition of MCA Inc.
BUSINESS
June 6, 1995 | SALLIE HOFMEISTER, TIMES STAFF WRITER
Matsushita Electric Industrial Co. officially handed over the keys of MCA Inc. to their new owner Monday morning, in what has become for Seagram Co. a highly publicized if somewhat fitful entrance into the entertainment business. Edgar Bronfman Jr., chief executive of the Montreal-based beverage company, had hoped to announce a new management team shortly after closing the $5.7-billion purchase of 80% of MCA.
BUSINESS
May 25, 1995 | From Times Wire Services
Matsushita Electric Industrial Co. said Wednesday that its earnings for last year more than tripled, but it forecast a loss for this year because of its sale of an 80% stake in MCA Inc. Matsushita, the world's largest consumer electronics maker, said its earnings soared to $1.04 billion for the fiscal year ended March 31, from $281 million the previous year. Sales rose to $79.8 billion from $76.0 billion.
BUSINESS
October 19, 1994 | KATHRYN HARRIS, TIMES STAFF WRITER
MCA Chairman Lew R. Wasserman and President Sidney J. Sheinberg met Tuesday afternoon in San Francisco with senior executives from Matsushita Electric Industrial Co., but failed to reach accord on the degree of control sought by the entertainment subsidiary. "The issues were discussed but nothing was resolved," Sheinberg said Tuesday night from his hotel. Despite the executives' effort to meet privately, Japanese news reporters were spotted outside the hotel.
BUSINESS
December 12, 1990 | From Reuters
A subsidiary of Matsushita Electric Industrial Co. has been ordered to pay nearly $2.5 million in penalties and costs for discriminating against non-Japanese staff in the United States, lawyers said Tuesday. The ruling by federal Judge James Alesia stems from a jury verdict returned in 1988 against Quasar Corp. of Franklin Park, Ill.
BUSINESS
October 19, 1994 | KATHRYN HARRIS, TIMES STAFF WRITER
MCA Chairman Lew R. Wasserman and President Sidney J. Sheinberg met Tuesday afternoon in San Francisco with senior executives from Matsushita Electric Industrial Co., but failed to reach accord on the degree of control sought by the entertainment subsidiary. "The issues were discussed but nothing was resolved," Sheinberg said Tuesday night from his hotel. Despite the executives' effort to meet privately, Japanese news reporters were spotted outside the hotel.
BUSINESS
October 18, 1994 | KATHRYN HARRIS, TIMES STAFF WRITER
When MCA's corporate jet lifts off today, the ambitions of MCA President Sidney J. Sheinberg will take flight as well. He and MCA Chairman Lew R. Wasserman are traveling to meet with senior executives from Matsushita Electric Industrial Co. to discuss the strained relations between the Japanese parent and its frustrated Hollywood subsidiary.
BUSINESS
October 18, 1994 | ALAN CITRON
In Japan, where pride is everything, how much do you sacrifice for the sake of Lew R. Wasserman and Sidney J. Sheinberg? That's the cosmic question confronting Matsushita Electric Industrial Co. this week as it decides whether to bend to the demands of the veteran MCA Inc. executives.
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