Toyota founder
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Mitsubishi
Group of autonomous, Japanese multinational companies
This article is about the Japanese conglomerate. For other uses, see Mitsubishi (disambiguation).
The Mitsubishi Group (三菱グループ, Mitsubishi Gurūpu) is a group of autonomous Japanesemultinational companies in a variety of industries.
Founded by Yatarō Iwasaki in 1870, the Mitsubishi Group traces its origins to the Mitsubishi zaibatsu, a unified company that existed from 1870 to 1946. The company, along with other major zaibatsu, was disbanded during the occupation of Japan following World War II by the order of the Allies. Despite the dissolution, the former constituent companies continue to share the Mitsubishi brand and trademark.
While the group of companies engages in limited business cooperation, most notably through monthly “Friday Conference” executive meetings, they remain formally independent and are not under common control. The three main entities (gosanke) are Mitsubishi UFJ Financial Group (the largest bank in Japan), Mitsubishi Corporation (a general trading company), and Mitsubishi Heavy
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Yataro Iwasaki
Yataro Iwasaki was the bold and ambitious entrepreneur who started Mitsubishi. The son of a provincial farmer, Yataro began his career in the employ of the Tosa clan. The clan held business interests in many parts of Japan, which whetted the young man's ambition.
Yataro's great grandfather had sold the family's samurai status to cover debts. Although well off, the ambitious young man knew that the only way to gain true power was education. At 19, Yataro followed an official of the Tosa clan to Edo (Tokyo) to further his studies.
The serious injury of Yataro's father in a dispute with the village headman brought him home from Edo a year later. When the local magistrate refused to hear his case, Yataro accused him of corruption. That landed him in prison for seven months.
Yataro Iwasaki studied under the reformist Toyo Yoshida. It was Yoshida who influenced him with ideas about opening up the then-closed nation and of development and industry. Through his association with Yoshida, Yataro landed a position as a clerk for the Tosa government. He saved diligently and
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IWASAKI Yataro
Businessman. Born in Kochi, the son of a jigeronin (former lower-ranked, rural samurai without a master to serve). Founder of the Mitsubishi Zaibatsu (Mitsubishi financial group). He found a job in the Kochi Clan, and engaged in trading business at Kaiseikan Nagasaki branch. In 1869, he was transferred to Osaka Shokai of the same clan. When the haihan chiken (the abolition of clans and establishment of prefectures) was implemented, he took over the enterprises that had been run by the clan and established the Tsukumo Shokai, later renaming the company Mitsubishi Shokai, and finally, Mitsubishi Mail Steamship Co. The company was responsible for military transportation of the Taiwan Expedition and the Satsuma Rebellion. It also attempted to enter various markets such as mining, shipbuilding, finance, and trade. Mitsubishi competed fiercely with Kyodo Un-yu Kaisha, a rival steamship company, but Yataro died from illness in 1885. His younger brother Yanosuke and his eldest son Hisaya took over his business.
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