HOME
The Info List - Mitsui


--- Advertisement ---



Mitsui
Mitsui
Group (三井グループ, Mitsui
Mitsui
Gurūpu) is one of the largest keiretsu in Japan
Japan
and one of the largest corporate groups in the world. The major companies of the group include Mitsui
Mitsui
& Co. (general trading company), Sumitomo
Sumitomo
Mitsui
Mitsui
Banking Corporation, Sapporo Breweries, Toray Industries, Mitsui
Mitsui
Chemicals, Isetan
Isetan
Mitsukoshi Holdings, Sumitomo
Sumitomo
Mitsui
Mitsui
Trust Holdings, Mitsui
Mitsui
Engineering & Shipbuilding, Mitsui O.S.K. Lines
Mitsui O.S.K. Lines
and Mitsui
Mitsui
Fudosan.[1]

Contents

1 History

1.1 Edo
Edo
period origins 1.2 Formation of Mitsui
Mitsui
zaibatsu 1.3 World War II 1.4 Postwar development as keiretsu

2 Makeup of the Mitsui
Mitsui
Group

2.1 Mitsui
Mitsui
companies which are in the Nikkei 225

3 Other companies with close ties to the Mitsui
Mitsui
Group 4 See also 5 References 6 Sources 7 External links

History[edit] Edo
Edo
period origins[edit]

Surugacho (Suruga Street) (1856), from One Hundred Famous Views of Edo, by Hiroshige, depicting the Echigoya
Echigoya
kimono and money exchange store with Mount Fuji
Mount Fuji
in background. Currently, the Mitsui
Mitsui
Main Building (三井本館), which houses Sumitomo
Sumitomo
Mitsui
Mitsui
Banking Corporation, Mitsui
Mitsui
Fudosan, The Chuo Mitsui Trust and Banking Co.
The Chuo Mitsui Trust and Banking Co.
and Mitsui
Mitsui
Memorial Museum, is located on the right side of the street. Mitsukoshi
Mitsukoshi
department store is on the left side.

Mitsui
Mitsui
Main Building and Nihonbashi
Nihonbashi
Mitsui
Mitsui
Tower

Founded by Mitsui Takatoshi (1622–1694), who was the fourth son of a shopkeeper in Matsusaka, in what is now today's Mie prefecture. From his shop, called Echigoya
Echigoya
(越後屋), Mitsui
Mitsui
Takatoshi's father originally sold miso and ran a pawn shop business. Later, the family would open a second shop in Edo
Edo
(now called Tokyo). Takatoshi moved to Edo
Edo
when he was 14 years old, and later his older brother joined him. Sent back to Matsutaka by his brother, Takatoshi waited for 24 years until his older brother died before he could take over the family shop, Echigoya. He opened a new branch in 1673;[2] a large gofukuya (kimono shop) in Nihonbashi, a district in the heart of Edo. This genesis of Mitsui's business history began in the Enpō
Enpō
era, which was a nengō meaning "Prolonged Wealth". In time, the gofukuya division separated from Mitsui, and is now called Mitsukoshi. Traditionally, gofukuyas provided products made to order; a visit was made to the customer's house (typically a person of high social class or who was successful in business), an order taken, then fulfilled. The system of accountancy was called "margin transaction". Mitsui
Mitsui
changed this by producing products first, then selling them directly at his shop for cash. At the time, this was an unfamiliar mode of operation in Japan. Even as the shop began providing dry goods to the government of the city of Edo, cash sales were not yet a widespread business practice. At about this time, Edo's government had struck a business deal with Osaka. Osaka
Osaka
would sell crops and other material to pay its land tax. The money was then sent to Edo—but moving money was dangerous in middle feudal Japan. In 1683 the shogunate granted permission for money exchanges (ryōgaeten) to be established in Edo.[3] The Mitsui "exchange shops" facilitated transfers and mitigated that known risk. Formation of Mitsui
Mitsui
zaibatsu[edit] After the Meiji Restoration, Mitsui
Mitsui
was among the enterprises that were able to expand to become zaibatsu not simply because they were already big and rich at the start of modern industrial development. Firms like Mitsui
Mitsui
and Sumitomo
Sumitomo
were led by non-family managers such as Minomura Rizaemon, who guided the business by accurately forecasting the coming political and economic situations, by acquaintance with high-ranking government officials or politicians, and bold investment.[4] Mitsui's main business in the early period were drapery, finance and trade, the first two being the businesses it inherited from the Tokugawa Era. It entered into mining because it acquired a mine as collateral from the loan it had made, and partly because it could buy a mine cheaply from the government, Mitsui
Mitsui
then diversified to become the biggest business in pre-war Japan. The diversification was made mainly into related fields to take advantage of accumulated capabilities; for instance, the trading company entered into chemicals to attain forward integration.[5] On July 1, 1876, Mitsui
Mitsui
Bank, Japan's first private bank, was founded with Takashi Masuda
Takashi Masuda
(1848–1938) as its president. Mitsui
Mitsui
Bank, which following a merger with Taiyō-Kobe Bank in the mid 1980s became part of Sakura Bank, survives as part of the Sumitomo
Sumitomo
Mitsui
Mitsui
Banking Corporation. During the early 20th century, Mitsui
Mitsui
was one of the largest zaibatsu, operating in numerous fields. Mitsui Bank
Mitsui Bank
became the holding company of the Mitsui
Mitsui
zaibatsu from 1876. It was joined as an ultimate parent company by Mitsui
Mitsui
& Co. and Mitsui
Mitsui
Mining in 1900, with various industrial concerns owned by various combinations of these companies and their subsidiaries.[6] Likewise, Mitsui
Mitsui
invested in maritime transportation to support its trading activities as well as invest in passenger transportation, first with the creation in 1878 of Osaka
Osaka
Shosen Kaisha (OSK), which was merged with Mitsui
Mitsui
Steamship in 1964, to become Mitsui
Mitsui
OSK Lines ('MOL'), which is today one of the largest ocean shipping groups in the world. When the United Kingdom
United Kingdom
withdrew from the gold standard in 1931, during the height of the Great Depression, Mitsui Bank
Mitsui Bank
and Mitsui & Co. were found to have speculated around the transaction. This raised a political furor in Japan
Japan
and resulted in the assassination of Mitsui
Mitsui
executive Takuma Dan.[6] World War II[edit] As part of the Japanese plans for the exploitation of China, during the 1930s and '40s the subsidiary tobacco industry of Mitsui
Mitsui
had started production of special "Golden Bat" cigarettes using the then-popular in the Far East trademark. Their circulation was prohibited in Japan
Japan
and was used only for export. Local Japanese secret service under the controversial Imperial Japanese Army
Imperial Japanese Army
General Kenji Doihara
Kenji Doihara
had the control of their distribution in China
China
and Manchuria
Manchuria
where the production exported. Within the mouthpiece were small discreet doses of opium or heroin, and consequently millions of unsuspecting consumers became addicted to these narcotics, while huge profits were created for the company. The mastermind of the plan, Doihara, was later prosecuted and convicted for war crimes before the International Military Tribunal for the Far East, sentenced to death; but no actions ever took place against the company which profited from their production. According to testimony presented at the Tokyo
Tokyo
War Crimes trials in 1948, the revenue from the narcotization policy in China, including Manchukuo, was estimated in 20 million to 30 million yen per year, while another authority stated that the annual revenue was estimated by the Japanese military at US$300 million a year.[7][8] During the Second World War, Mitsui
Mitsui
employed American prisoners of war as slave laborers, some of whom were maimed by Mitsui
Mitsui
employees.[9] Postwar development as keiretsu[edit] In 1947 and 1948, the Supreme Commander Allied Powers
Supreme Commander Allied Powers
pressed the Japanese government to dismantle the ten largest zaibatsu conglomerates, including Mitsui. The Mitsui
Mitsui
Group, now broken into many separate companies, reorganized itself as a horizontal coalition of independent companies in the 1950s, once the occupation of Japan had ended and some of the smaller companies were allowed to re-coalesce. The central firms in the keiretsu became Mitsui Bank
Mitsui Bank
and Mitsui
Mitsui
& Co..[6] Mitsui
Mitsui
lagged somewhat behind its rivals Mitsubishi
Mitsubishi
and Sumitomo
Sumitomo
Group in reorganization. Mitsui
Mitsui
Bank, which should have been the mainstay and principal capital provider of the group, declined in size due to the collapse of the Imperial Bank after the war, which resulted in reduced cohesion of the conglomerate. Many companies that were once part of the Mitsui
Mitsui
Group have become independent or tied to other conglomerates. Specifically, Toshiba, Toyota Motors, and Suntory, once part of the Mitsui
Mitsui
Group, became independent, with the Toyota Group becoming a conglomerate in its own right. Ishikawajima-Harima Heavy Industries is now considered to be part of the Mizuho Group, and many companies in the Sumitomo
Sumitomo
Mitsui
Mitsui
Financial Group are now more closely tied to the Sumitomo
Sumitomo
Group than the Mitsui
Mitsui
Group. Recently there have been signs that Mitsubishi
Mitsubishi
UFJ Financial Group and the Mitsubishi Group could be taking over other parts of the Sumitomo
Sumitomo
Mitsui Financial Group. Mitsukoshi
Mitsukoshi
merged into Isetan, a major department store with close ties to the Bank of Tokyo- Mitsubishi
Mitsubishi
UFJ, to form Isetan Mitsukoshi Holdings
Isetan Mitsukoshi Holdings
in April 2008. Makeup of the Mitsui
Mitsui
Group[edit] Companies currently associated with the Mitsui
Mitsui
keiretsu include Mitsui & Co., Sumitomo
Sumitomo
Mitsui
Mitsui
Trust Holdings, Japan
Japan
Steel Works, Mitsui Chemicals, Mitsui
Mitsui
Construction Co., Mitsui
Mitsui
Engineering & Shipbuilding, Mitsui
Mitsui
Fudosan, Mitsui-gold, Mitsui
Mitsui
Mining & Smelting Co., Ltd., Mitsui Oil Exploration Co.
Mitsui Oil Exploration Co.
(MOECO), Mitsui
Mitsui
O.S.K. Lines, Mitsui
Mitsui
Petrochemical Industries Ltd, Mitsui-Soko, Mitsui Sumitomo
Sumitomo
Insurance Group, Oji Paper Company, Pacific Coast Recycling, Sumitomo
Sumitomo
Mitsui
Mitsui
Banking Corporation, Taiheiyo Cement, Toray Industries, Toshiba
Toshiba
Corporation, Tri-net Logistics Management, Mitsui Commodity Risk Management [MCRM]. Mitsui
Mitsui
companies which are in the Nikkei 225[edit]

Mitsui
Mitsui
& Co. Mitsui
Mitsui
Chemicals Mitsui
Mitsui
Engineering & Shipbuilding Mitsui
Mitsui
Fudosan Mitsui
Mitsui
Mining & Smelting Co., Ltd. Mitsui
Mitsui
O.S.K. Lines Mitsui
Mitsui
Sumitomo
Sumitomo
Insurance Group Mitsui
Mitsui
Life Insurance Co. Mitsui-Soko Holdings Mitsui
Mitsui
Mining & Smelting Nihon Unisys JA Mitsui
Mitsui
Leasing Isetan
Isetan
Mitsukoshi
Mitsukoshi
Holdings Denka Oji Paper Company Sumitomo
Sumitomo
Mitsui
Mitsui
Financial Group Sumitomo
Sumitomo
Mitsui
Mitsui
Trust Holdings Sumitomo
Sumitomo
Mitsui
Mitsui
Construction Sumitomo
Sumitomo
Mitsui
Mitsui
Banking Corporation Shin Nippon Air Technologies Sapporo Brewery Sanki Engineering Aim Services Co., Ltd Toray Industries Toyo Engineering Corporation Toshiba Japan
Japan
Steel Works

Other companies with close ties to the Mitsui
Mitsui
Group[edit]

Sony Ito-Yokado Sagami Railway Tokyo
Tokyo
Broadcasting System Kanebo (Kao Corporation) Oriental Land Toyota Group Komatsu Limited Vale (mining company) Rio Tinto Group BHP Billiton Yamaha Yanmar Sims Metal Management
Sims Metal Management
Mitsui
Mitsui
owns 18% share capital in the company and is represented on its board. Columbia Asia IHH Healthcare Berhad – Mitsui
Mitsui
owns 20.5% share capital in the company and is represented on its board. Greater Anglia – Mitsui
Mitsui
owns 40% share of the British rail operator.

See also[edit]

List of Japanese companies Mitsui
Mitsui
family Mitsui
Mitsui
& Co. Mitsui
Mitsui
O.S.K. Lines Sumitomo
Sumitomo
Mitsui
Mitsui
Financial Group Mitsui
Mitsui
Golden Glove Award

References[edit]

^ "Member Companies". Mitsui
Mitsui
Public Relations Committee. Retrieved 23 April 2014.  ^ Hall, John. (1970). Japan: From Prehistory to Modern Times, p. 290. ^ Shinjō, Hiroshi. (1962). History of the Yen: 100 Years of Japanese Money-economy, p. 11. ^ Odagiri, Hiroyuki (1996). Technology and Industrial Development in Japan. Oxford University Press. pp. 72–73. ISBN 0-19-828802-6.  ^ Odagiri, Hiroyuki (1996). Technology and Industrial Development in Japan. Oxford University Press. p. 76. ISBN 0-19-828802-6.  ^ a b c Grabowiecki, Jerzy (March 2006). " Keiretsu
Keiretsu
groups: their role in the Japanese economy and a reference point (or paradigm) for other countries" (PDF). JETRO. Retrieved 23 April 2014.  ^ Mitsui: Three Centuries of Japanese Business, pages 312-313, John G. Roberts, Weatherhill, ISBN 978-0-8348-0080-9. 1991 ^ Encyclopedia of espionage, p.315, Ronald Sydney Seth, ISBN 978-0-385-01609-4, Doubleday, 1974 ^ Unfinished Business, Foreign Policy, June 28, 2010 Pennington, Matthew (25 April 2015). "'The truth needs to be told' about Japan's war history, some vets say". Stars and Stripes. United States. Associated Press. Retrieved 25 April 2015. 

Sources[edit]

Hall, John Whitney. (1970). Japan: From Prehistory to Modern Times in Delacorte World History, Vol. XX. New York: Delacorte Press. ISBN 0-297-00237-6 Shinjō, Hiroshi. (1962). History of the Yen: 100 Years of Japanese Money-economy. Kobe: Research Institute for Economics & Business Administration, Kōbe University.

External links[edit]

Mitsui
Mitsui
Public Relations Committee [1] [2]

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

.