The Mitsubishi Group of Companies, or Mitsubishi Companies is a Japanese conglomerate
consisting of a range of autonomous 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 US and Japanese media
and official reports; in general these companies all descend from the zaibatsu
of the same name. A keiretsu is a common feature of Japanese corporate governance
and refers to a collaborative group of integrated companies with extensive
share crossholdings, personnel swaps and strategic co-operation. The top 25 companies
are also members of the Mitsubishi Kin'yo-kai, or "Friday Club", and meet
monthly. The Mitsubishi.Com Committee is charged with maintaining the overall
integrity of the brand as well as maintaining the portal web site.
The
first Mitsubishi company was a shipping firm established by Yataro Iwasaki
(1834–1885) in 1870. In 1873, its name was changed to Mitsubishi Shokai. The name
Mitsubishi has two parts: "mitsu" meaning "three" and "bishi" 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".
The
company bought into coal mining in 1881 by acquiring the Takashima mine, using
the produce 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. |
