Panasonic Corp, formerly known as Matsushita Electric Industrial Co., Ltd., was incorporated in Japan in 1935 under the laws of Japan as Matsushita Denki Sangyo Kabushiki Kaisha. As of October 1, 2008, the Company changed its name from 'Matsushita Electric Industrial Co., Ltd.' to 'Panasonic Corporation'. It is a manufacturer of electronic and electric products for a range of consumer, business and industrial uses, as well as a number of components. The Company divides its businesses into five segments: Digital AVC Networks, Home Appliances, PEW and PanaHome, Components and Devices, and Other. The Company's main products in Digital AVC Networks segment include video and audio equipment and information and communications equipment. This segment provides hardware, software, services and solutions built on cutting-edge technologies as a source of competitiveness. In addition to developing attractive products with the Company's proprietary technology, Digital AVC Networks links together various equipment to offer consumers more secure and comfortable lifestyles. Moreover, this segment works actively on developing products that would help create a ubiquitous networking society, thereby driving the Company's global growth. The Company's main products in the Home Appliances segment include home appliances such as washing machines, vacuum cleaners, dishwasher/dryers, rice cookers, microwave ovens, refrigerators, room air conditioners, water heating systems, and compressors. This segment also includes lighting business and environmental systems. PEW and PanaHome segment includes electrical supplies, home appliances, building materials and equipment, and housing business. This segment includes Panasonic Electric Works Co., Ltd. (PEW), PanaHome Corporation (PanaHome) and their respective subsidiaries. Components and Devices segment includes semiconductors, general electronic components, batteries and electric motors. Other segment includes factory automation (FA) equipment and other industrial equipment. The Company also contributes to high-quality mounting and increased productivity in printed circuit board production. Its main competitors, across the full range of its products, consist of several large Japanese and overseas manufacturers and a number of smaller and more specialized companies. The Company is subject to environmental regulations such as those relating to air pollution, water pollution, elimination of hazardous substances, waste management, product recycling, and soil and groundwater contamination.