Moody's cuts credit rating on Panasonic

Panasonic, a true symbol of postwar Japan "monozukuri." They make some nice products, but they make too much of everything, including many money-losing products.

That's fueled by the monozukiri myth, that Japan and only Japan is somehow destined to dominate the world in manufacturing. Apple, Samsung and others are proving this idea to be a fanciful myth.

Agreed indeed, every industry / company follows a cycle, Matsushita-panasonic makes no exception, surprisingly its J-peers follow the same decline pattern when strong, profitable & jobs creating companies are badly needed amid economic downturns.