 Over the decades, Miyata established a good foothold in the bicycle market, becoming contracted by multiple local brands to build their bicycles and ultimately attracting Panasonic Corporation to become a shareholder in 1959.Panasonic Corporation, for a period the manufacturer of "National" and "Panasonic" brand bicycles, was Miyata's largest shareholder from 1959 until 2008, when it sold its remaining stake in Miyata.Throughout the U.S. bike boom of the 1970s and into the 1980s, Miyata competed with American companies including Schwinn, Huffy, and Murray; European companies including Raleigh, Peugeot and Motobecane — as well as other nascent Japanese brands including Nishiki, Fuji, Bridgestone, Centurion, Lotus and Univega — whose bikes were manufactured by Miyata.