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The Mitsubishi
Mitsubishi
Group (三菱グループ, Mitsubishi
Mitsubishi
Gurūpu, also known as the Mitsubishi
Mitsubishi
Group of Companies or Mitsubishi
Mitsubishi
Companies, and informally as the Mitsubishi
Mitsubishi
Keiretsu) is a group of autonomous Japanese multinational companies in a variety of industries. It is historically descended from the Mitsubishi
Mitsubishi
zaibatsu, a unified company which existed from 1870, founded by Iwasaki Yatarō, to 1947 and was disbanded during the occupation of Japan
Japan
following World War II. The former constituents of the company continue to share the Mitsubishi
Mitsubishi
brand, trademark, and legacy. Although the group companies participate in limited business cooperation, most famously through monthly "Friday Conference" executive meetings, they are formally independent and are not under common control. The four main companies in the group are The Bank of Tokyo-Mitsubishi UFJ
The Bank of Tokyo-Mitsubishi UFJ
(the largest bank in Japan), Mitsubishi Corporation
Mitsubishi Corporation
(a general trading company), Mitsubishi Electric and Mitsubishi Heavy Industries
Mitsubishi Heavy Industries
(both being diversified manufacturing companies).

Contents

1 History

1.1 World War II 1.2 Post-war era

2 Mitsubishi
Mitsubishi
companies

2.1 Business form 2.2 Core members 2.3 Other members 2.4 Related organizations

3 See also 4 References 5 External links

History[edit]

Yatarō Iwasaki, the founder of Mitsubishi

The Mitsubishi
Mitsubishi
company was established as a shipping firm by Yatarō Iwasaki (1834–1885) in 1870. In 1873, its name was changed to Mitsubishi
Mitsubishi
Shokai. The name Mitsubishi
Mitsubishi
(三菱) consists of two parts: "mitsu" meaning "three" and "hishi" (which becomes "bishi" under rendaku) meaning "water caltrop" (also called "water chestnut"), and hence "rhombus", which is reflected in the company's logo. It is also translated as "three diamonds".[1] Mitsubishi
Mitsubishi
was established in 1870, two years after the Meiji Restoration, with shipping as its core business. Its diversification was mostly into related fields. It entered into coal-mining to gain the coal needed for ships, bought a shipbuilding yard from the government to repair the ships it used, founded an iron mill to supply iron to the shipbuilding yard, started a marine insurance business to cater for its shipping business, and so forth. Later, the managerial resources and technological capabilities acquired through the operation of shipbuilding were utilized to expand the business further into the manufacture of aircraft and equipment. The experience of overseas shipping led the firm to enter into a trading business.[2] In 1881, the company bought into coal mining by acquiring the Takashima Mine, followed by Hashima Island
Hashima Island
in 1890, using the production to fuel their extensive steamship fleet. They also diversified into shipbuilding, banking, insurance, warehousing, and trade. Later diversification carried the organization into such sectors as paper, steel, glass, electrical equipment, aircraft, oil, and real estate. As Mitsubishi
Mitsubishi
built a broadly based conglomerate, it played a central role in the modernization of Japanese industry.[3] In February 1921, the Mitsubishi
Mitsubishi
Internal Combustion Engine Manufacturing Company in Nagoya invited British Sopwith Camel
Sopwith Camel
designer Herbert Smith, along with several other former Sopwith engineers to assist in creating an aircraft manufacturing division. After moving to Japan, they designed the Mitsubishi
Mitsubishi
1MT, Mitsubishi
Mitsubishi
B1M, Mitsubishi 1MF, and Mitsubishi
Mitsubishi
2MR. The merchant fleet entered into a period of diversification that would eventually result in the creation of three entities:

Mitsubishi
Mitsubishi
Bank
Bank
(now a part of the Mitsubishi
Mitsubishi
UFJ Financial Group) was founded in 1919. After its mergers with the Bank
Bank
of Tokyo
Tokyo
in 1996, and UFJ Holdings
UFJ Holdings
in 2004, this became Japan's largest bank. Mitsubishi
Mitsubishi
Corporation, founded in 1950, Japan's largest general trading company Mitsubishi
Mitsubishi
Heavy Industries, which includes these industrial companies:

Mitsubishi
Mitsubishi
Motors, the sixth-largest Japan-based car manufacturer. Mitsubishi
Mitsubishi
Atomic Industry, a nuclear power company. Mitsubishi
Mitsubishi
Chemical, the largest Japan-based chemicals company Mitsubishi
Mitsubishi
Hitachi Power Systems, a power generation division Nikon
Nikon
Corporation, specializing in optics and imaging.

The firm's prime real estate holdings in the Marunouchi
Marunouchi
district of Tokyo, acquired in 1890, were spun off in 1937 to form Mitsubishi Estate, now one of the largest real estate development companies in Japan.[4] World War II[edit]

Mitsubishi
Mitsubishi
A6M "Zero" fighter

During the Second World War, Mitsubishi
Mitsubishi
manufactured military aircraft under the direction of Dr. Jiro Horikoshi. The Mitsubishi A6M Zero
Mitsubishi A6M Zero
was a primary Japanese naval fighter in World War II. It was used by Imperial Japanese Navy
Imperial Japanese Navy
pilots throughout the war, including in kamikaze attacks during the later stages. Allied pilots were astounded by its maneuverability, and it was very successful in combat until the Allies devised tactics to utilize their advantage in armor and diving speed.[5][6][7][8][9][10][11][12][13] Mitsubishi
Mitsubishi
made use of forced labor during this tenure. Laborers included allied POWs, as well as Chinese citizens. In the post-war period, lawsuits and demands for compensations were presented against the Mitsubishi
Mitsubishi
Corporation, in particular by former Chinese workers. On July 24, 2015, the company agreed to formally apologize for this wartime labor, and compensated 3765 Chinese laborers who were conscripted to Mitsubishi
Mitsubishi
Mining
Mining
during the war.[14] On July 19, 2015, the company apologized for using American soldiers as slave laborers during World War II, making them the first major Japanese company to apologize for doing so.[15] Mitsubishi
Mitsubishi
was involved in the opium trade in China during this period.[16] Post-war era[edit] Mitsubishi
Mitsubishi
was among a number of major Japanese companies targeted for dissolution during the occupation of Japan. It was broken up into a large number of smaller enterprises whose stock was offered to the public. For several years, these companies were banned from coordinating with each other and from using the Mitsubishi
Mitsubishi
name and trademarks. These restrictions were lifted in 1952, as the Korean War generated a need for a stronger industrial base in Japan. Mitsubishi Corporation and Mitsubishi
Mitsubishi
Heavy Industries, which had themselves been broken up into many smaller entities, again coalesced by the mid-1950s.[17] Mitsubishi
Mitsubishi
companies participated in Japan's unprecedented economic growth of the 1950s and 1960s. For example, as Japan
Japan
modernized its energy and materials industries, the Mitsubishi
Mitsubishi
companies created Mitsubishi
Mitsubishi
Petrochemical, Mitsubishi
Mitsubishi
Atomic Power Industries, Mitsubishi
Mitsubishi
Liquefied Petroleum
Petroleum
Gas, and Mitsubishi
Mitsubishi
Petroleum Development. The traditional Mitsubishi
Mitsubishi
emphasis on technological development was in new ventures in such fields as space development, aviation, ocean development, data communications, computers, and semiconductors. Mitsubishi
Mitsubishi
companies also were active in consumer goods and services. In 1970, Mitsubishi
Mitsubishi
companies established the Mitsubishi Foundation to commemorate the centennial anniversary of the founding of the first Mitsubishi
Mitsubishi
company. The companies also individually maintain charitable foundations. Mitsubishi
Mitsubishi
pavilions have been highlights of expositions in Japan
Japan
since EXPO'70 in Osaka in the 1970s to 1980s. Mitsubishi
Mitsubishi
companies[edit]

The Tokyo
Tokyo
Building, the headquarters building of Mitsubishi
Mitsubishi
Electric Corporation in Tokyo

Mitsubishi
Mitsubishi
EDM/Laser office in North America

The main campus of Seikei University

Business form[edit] The Mitsubishi
Mitsubishi
Group is made up of about 40 individual companies with no controlling parent company. Each of the Mitsubishi
Mitsubishi
companies owns substantial (but usually not controlling) portions of the shares of the others. Twenty-nine of the group companies participate in the Friday Conference (金曜会, Kinyō-kai), a luncheon meeting of their most senior executives held on the second Friday of each month. The group began its tradition of monthly executive meetings in 1952, and over time the meetings became a venue for coordinating policy between the group companies. However, by the 1990s, this practice was criticized (particularly by non-Japanese investors) as a possible violation of antitrust law. Since 1993, the Friday Conference has officially been held as a social function, and not for the purpose of discussing or coordinating business strategy. Despite this, the Friday Conference has been a venue for informal cooperation and coordination between the group companies, most notably in bailing out Mitsubishi Motors
Mitsubishi Motors
during the mid 2000s.[18] In addition to the Friday Conference, the group companies' heads of general affairs hold a meeting on the third Monday of each month, and the group companies' legal and IP departments hold a trademark policy coordination meeting on the first Friday of each month.[18] Core members[edit] Three of the group companies are informally known as the "Three Great Houses" (御三家, go-san-ke) and hold a separate coordinating meeting prior to each Friday Conference:[18]

The Bank
Bank
of Tokyo- Mitsubishi
Mitsubishi
UFJ Mitsubishi
Mitsubishi
Corporation Mitsubishi
Mitsubishi
Heavy Industries

Ten other "major" group companies participate in the coordinating meeting on a rotating basis (with six of the ten companies participating in any given month):[18]

Asahi Glass
Glass
Co. Kirin Company Meiji Yasuda Life Mitsubishi Chemical
Mitsubishi Chemical
Corporation Mitsubishi
Mitsubishi
Electric Mitsubishi
Mitsubishi
Estate Mitsubishi
Mitsubishi
Materials Mitsubishi
Mitsubishi
UFJ Trust and Banking Corporation NYK Line
NYK Line
( Nippon Yusen
Nippon Yusen
Kabushiki Kaisha) Tokio Marine
Tokio Marine
Nichido

Other members[edit]

JXTG Holdings Mitsubishi
Mitsubishi
FUSO Truck & Bus Corp. Mitsubishi
Mitsubishi
Logistics Mitsubishi
Mitsubishi
Motors Mitsubishi
Mitsubishi
Paper
Paper
Mills Mitsubishi
Mitsubishi
Plastics Mitsubishi
Mitsubishi
Rayon Mitsubishi
Mitsubishi
Research Institute Mitsubishi
Mitsubishi
Shindoh Mitsubishi
Mitsubishi
Steel
Steel
Manufacturing

MSSC

Mitsubishi
Mitsubishi
UFJ Securities Nikon P.S. Mitsubishi
Mitsubishi
Construction

Related organizations[edit]

Atami Yowado Chitose Kosan Dai Nippon Toryo The Dia Foundation for Research on Ageing Societies Diamond Family Club Kaitokaku Koiwai Noboku Kaisha LEOC Japan Marunouchi
Marunouchi
Yorozu Meiwa Corp. Mitsubishi
Mitsubishi
C&C Research Association Mitsubishi
Mitsubishi
Club Mitsubishi
Mitsubishi
Corporate Name and Trademark
Trademark
Committee Mitsubishi
Mitsubishi
Economic Research Institute Mitsubishi Electric
Mitsubishi Electric
Automation Mitsubishi
Mitsubishi
Foundation Mitsubishi
Mitsubishi
Kinyokai Mitsubishi
Mitsubishi
Marketing Association Mitsubishi Motors
Mitsubishi Motors
North America Mitsubishi
Mitsubishi
Public Affairs Committee The Mitsubishi
Mitsubishi
Yowakai Foundation MT Insurance
Insurance
Service Nippon TCS Solution Center Seikadō Bunko Art Museum Shonan Country Club Sotsu Corporation Tōyō Bunko Seikei University All Mitsubishi
Mitsubishi
Lions

See also[edit]

List of aircraft by Mitsubishi Mitsubishi Pencil Company (not a part of the Mitsubishi
Mitsubishi
zaibatsu)

References[edit]

^ The Mitsubishi
Mitsubishi
Mark ^ Odagiri, Hiroyuki (1996). Technology and Industrial Development in Japan. Oxford University Press. p. 76. ISBN 0-19-828802-6.  ^ "The History of Mitsubishi
Mitsubishi
Group". GearHeads. 19 May 2012. Retrieved 25 October 2012.  ^ "History". Mitsubishi Estate
Mitsubishi Estate
Co., Ltd. Retrieved 7 September 2015.  ^ Wilcox, Richard (9 November 1942). "The Zero". Life Magazine.  ^ Jablonski, Edward. Airwar. New York: Doubleday & Co., 1979. ISBN 0-385-14279-X. ^ Green and Swanborough 2001 ^ Hawks, Chuck. "The Best Fighter Planes of World War II". chuckhawks.com. Retrieved: 30 July 2015. ^ Young, Edward M. (2013). F4F Wildcat vs A6M Zero-sen. Osprey Publishing. p. 36. ISBN 9781780963228.  ^ Thompson with Smith 2008, p. 231. ^ Mersky, Peter B. (Cmdr. USNR). "Time of the Aces: Marine Pilots in the Solomons, 1942–1944." ibiblio.org. Retrieved: 30 July 2015. ^ Angelucci and Matricardi 1978, p. 138. ^ Willmott 1980, pp. 40–41. ^ http://articles.economictimes.indiatimes.com/2015-07-24/news/64817007_1_mitsubishi-materials-chinese-victims-compensation ^ " Mitsubishi Materials
Mitsubishi Materials
apologizes for using U.S. POWs as slave labor". Reuters. 20 July 2015. Retrieved 19 July 2015.  ^ Hastings, Max (2007). Retribution. New York: Vintage. p. 413. ISBN 978-0-307-27536-3.  ^ Morris-Suzuki, Tessa, ed. Japanese Capitalism Since 1945: Critical Perspectives. p. 109. CS1 maint: Extra text: authors list (link) ^ a b c d "三菱グループの最高決定機関「金曜会」の知られざる権力構造と裏序列". Shukan Diamond. 25 January 2016. Retrieved 28 April 2016. 

External links[edit]

Wikimedia Commons has media related to Mitsubishi.

Portal
Portal
website for Mitsubishi
Mitsubishi
companies Mitsubishi
Mitsubishi
companies grouped at OpenCorporates Official Mitsubishi
Mitsubishi
UAE Website

v t e

Mitsubishi
Mitsubishi
Group

Members of Mitsubishi Kinyokai
Mitsubishi Kinyokai
are bolded.

Foods and beverages

Kirin Holdings

Pulp, papers and fibers

Mitsubishi
Mitsubishi
Paper
Paper
Mills Mitsubishi
Mitsubishi
Rayon

Construction

P.S. Mitsubishi
Mitsubishi
Construction

Chemicals

Mitsubishi Chemical
Mitsubishi Chemical
Holdings Mitsubishi
Mitsubishi
Chemical Mitsubishi
Mitsubishi
Gas Chemical Mitsubishi
Mitsubishi
Plastics Dai Nippon Toryo

Glass
Glass
and ceramics

Asahi Glass

Petroleum
Petroleum
and nuclear power

Nippon Oil
Nippon Oil
Group Nippon Oil Mitsubishi
Mitsubishi
Nuclear Fuel

Steel

Mitsubishi
Mitsubishi
Steel
Steel
Mfg

Non-ferrous metals

Mitsubishi
Mitsubishi
Materials Mitsubishi
Mitsubishi
Aluminum Mitsubishi
Mitsubishi
Cable Industries

Machinery

Mitsubishi
Mitsubishi
Kakoki Mitsubishi
Mitsubishi
Heavy Industries Toyo Engineering Works

Automobiles

Mitsubishi
Mitsubishi
Motors Mitsubishi
Mitsubishi
Fuso Truck and Bus

Electrical equipment

Mitsubishi
Mitsubishi
Electric

Precision equipment

Nikon Mitsubishi
Mitsubishi
Precision

Trading

Mitsubishi
Mitsubishi
Corporation Astomos Energy Ryoshoku

Finance

Mitsubishi
Mitsubishi
UFJ Financial Group The Bank
Bank
of Tokyo- Mitsubishi
Mitsubishi
UFJ Mitsubishi
Mitsubishi
UFJ Securities Mitsubishi
Mitsubishi
UFJ Trust and Banking Corporation MUFG Union Bank Mitsubishi
Mitsubishi
Auto Leasing Mitsubishi
Mitsubishi
UFJ NICOS Mitsubishi
Mitsubishi
UFJ Lease & Finance

Insurance

Tokio Marine
Tokio Marine
Holdings Tokio Marine
Tokio Marine
Nichido Meiji Yasuda Life

Real estate

Mitsubishi
Mitsubishi
Estate

Transport and warehousing

Mitsubishi
Mitsubishi
Logistics Nippon Yusen Mitsubishi
Mitsubishi
Ore Transport

Information and communication

Mitsubishi
Mitsubishi
Research Institute Mitsubishi
Mitsubishi
Space Software IT Frontier

Mitsubishi
Mitsubishi
Zaibatsu Iwasaki Yataro Iwasaki family Kyu-Iwasaki-tei Gardens

v t e

Japan's zaibatsu, keiretsu, and modern corporate groups

Big 4 zaibatsu (preceding World War II)

Sumitomo Mitsui Mitsubishi Yasuda (in chronological order of founding)

Second tier zaibatsu (preceding World War II)

Asano Fujita Furukawa Kawasaki Mori Nakajima Nichitsu Nissan Nomura Okura RIKEN Shibusawa Suzuki

Big 6 Keiretsu
Keiretsu
(until roughly 10 years after Japan
Japan
bubble ended in 1991)

Sumitomo Mitsui Mitsubishi Fuyo Dai-Ichi Kangyo Sanwa

Transitionary keiretsu

UFJ (originated from Sanwa Group, later renamed to "Midori Kai")

Current groups

Sumitomo Mitsui Mitsubishi Mizuho Midori Kai Furukawa Ni

.