The name change highlights a global reorganization of the company that will include reorganization at Panasonic Security.

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“We are in the midst of a huge transformation of our company’s systems and organization,” said company chairman Yoshi Yamada in a statement. “By putting the Panasonic name on the revitalized company, we want to underline the dynamic change going on within the organization.”

According to an SSN report, there will be a management reorganization within Panasonic Security Systems in the <?xml:namespace prefix = st1 ns = “urn:schemas-microsoft-com:office:smarttags” />US. SSN says it’s unclear what shape this reorganization will take and whether anyone in the current company’s management will be losing their position.

Matsushita Electric Corp changed its name to Panasonic Corp. of North America on January 1. All 50 of Matsushita’s entities in the U.S. and Mexico will take on the Panasonic name during the coming year.

The company plans to abandon the Matsushita name throughout the world in the coming year except in the company’s base of operations in Japan, where Konosuke Matsushita founded the company in the 1930s.