Mitsubishi

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Mitsubishi Group

Type
Private
Industry
Conglomerate
Founded
1870
Founders
Iwasaki Yatar
Headquarters
Tokyo, Japan
Area served
Worldwide
Key people
CEO, Ken Kobayashi
Products
Mining, shipbuilding, telecom,financial
services, insurance,electronics, automotive,
construction, heavy industries,oil and gas, real
estate, foods and beverages, chemicals, steel,
aviation and others
Revenue
US$ 248.6 Billion (2010)
Profit
US$ 7.2 Billion (2010)
Employees
350,000 (2010)
Subsidiaries
List of subsidiaries
Website
Mitsubishi.com
The Mitsubishi Group (, Mitsubishi Gurpu) (also known as the Mitsubishi Group of
Companies orMitsubishi Companies) is a group of autonomous Japanese multinational
companies
[1]
covering a range of businesses which share the Mitsubishi brand, trademark, and
legacy.
The Mitsubishi group of companies form a loose entity, the Mitsubishi Keiretsu, which is often
referenced in Japanese and US media and official reports; in general these companies all descend
from the zaibatsu of the same name. The top 25 companies are also members of the Mitsubishi
Kin'ykai, or "Friday Club", and meet monthly. The Mitsubishi.com Committee facilitate
communication and access to the Mitsubishi brand through a portal web site.
[2]

I Contents
[hide]
1 History
o 1.1 World War II
o 1.2 Post-war era
2 Mitsubishi companies
o 2.1 Business form
o 2.2 Core members
o 2.3 Nikkei 225 member companies
o 2.4 Related organizations
3 See also
4 References
5 External links
II History[edit]

Yatar Iwasaki, the founder of Mitsubishi.
The Mitsubishi company was established as a shipping firm by Yatar Iwasaki (18341885) in 1870.
In 1873, its name was changed to Mitsubishi Shokai . The name Mitsubishi () 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".
[3]

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. Similarly, the experience of overseas shipping
led the firm to enter into a trading business.
[4]

The company bought into coal mining in 1881 by acquiring the Takashima mine and 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 built a broadly based conglomerate, it played a central role in the
modernization of Japanese industry.
[5]

The merchant fleet entered into a period of diversification that would eventually result in the creation
of three entities:
Mitsubishi Bank (now a part of the Mitsubishi UFJ Financial Group) was founded in 1919. After
its mergers with the Bank of Tokyo in 1996, and UFJ Holdings in 2004, this became Japan's
largest bank.
Mitsubishi Corporation, founded in 1950, Japan's largest general trading company
Mitsubishi Heavy Industries, which includes these industrial companies.
Mitsubishi Motors, the sixth-largest Japan-based auto manufacturer.
Mitsubishi Atomic Industry, a nuclear power company.
Mitsubishi Chemical, the largest Japan-based chemicals company
Mitsubishi Power Systems, a power generation division
Nikon Corporation, specializing in optics and imaging.
III World War II[edit]

Mitsubishi A6M "Zero" fighter.
During the Second World War, Mitsubishi manufactured aircraft under the direction of Dr. Jiro
Horikoshi. The Mitsubishi A6M("Zero") was a primary Japanese naval fighter in World War II. It was
used by Imperial Japanese Navy pilots throughout the war, including in kamikaze attacks during the
later stages. Allied pilots were astounded by its maneuverability,
[citation needed]
and it was very successful
in combat until the Allies devised tactics to utilize their advantage in armor and diving speed.
Mitsubishi made use of forced labor during this time period. Laborers included allied POWs, as well
as Chinese and Korean citizens. In the post-war period, lawsuits and demands for compensations
were presented against the Mitsubishi Corporation, in particular by former Chinese slave laborers.
[6]

Mitsubishi was involved in the opium trade in China during this period.
[7]