Major Japanese electronics companies entered the computer market in the 1960s, and Panasonic (Matsushita Electric Industrial) was also developing mainframe computers. The Japanese economy was facing a recession after the 1964 Summer Olympics and Panasonic decided to exit the computer business and focus on home appliances. The decision was a huge success, and Panasonic grew to become one of the largest electronics companies. In the late 1970s, the company investigated other business areas outside of home appliances. Panasonic also saw potential in the recent microcomputer revolution. One of Panasonic's distributors, Yamagata National, told Panasonic's president, Toshihiko Yamashita: .mw-parser-output .templatequoteoverflow:hidden;margin:1em 0;padding:0 32px.mw-parser-output .templatequote .templatequoteciteline-height:1.5em;text-align:left;padding-left:1.6em;margin-top:0