Mitsubishi Is a large Japanese
conglomerate that uses the Tokyo Stock Exchange market and consists of many
independent operated companies representing a wide cross section of industries
that include machinery, mining, construction, transport, warehousing, steel,
real estate, chemicals, textiles and metal products. Mitsubishi estimates that
the numbers of companies owned by them is over 200. The Mitsubishi Symbol has
also come to represents a value based three pronged philosophy for conducting
business, even to this day, the idea was adopted back in 1870 by Mitsubishis
founding father, Yataro Iwasaki, known as the three principles: Shoki Hoki
(Corporate Responsibility to Society), Shoji Komei (Intergrity and Fairness),
and Ritsugyo Boeki (International Understanding through Trade).
History - Mitsubishi's
dates back to 1870 when the founder and first president, Yataro Iwasaki bought
three old steamships from his clan and made his own shipping company. The
company had rapid growth, changing names over the years, to finally become
known as Mitsubishi Mail Steamship Co., Mitsubishi was also the first Japanese
company that to try out the overseas market. In the early 1880's, Japanese
government took the liberty of sponsoring the establishment of a rival company.
The rivalry between them almost ended Mitsubishi. In 1885 Yataro has passed
away and was succeeded by his younger brother, Yanosuke.
and Decentralizing Operations - In the upcoming years, Under Yanosuke's leadership,
Mitsubishi has diversified its businesses operations, focusing on the growth of
the company in the mining and shipbuilding business.
in the Modern Era - in 1916 Koyata Iwasaki, took over the presidency from his
Father Yanosuke. Koyata as a graduate of Cambridge University led Mitsubishi
into a modern era that incorporated Mitsubishi divisions into independent
companies. AS Koyata as president, Mitsubushi has become a leader in
electrical, equipment, machinery and chemical sectors. In 1934 these companies
would merge to form Mitsubishi Heavy Industries that manufactured a range of
products from aircrafts, automobiles, tanks and buses. World war two had a
direct impact on Mitsubishi and their organizational infrastructure, Slowly the
Iwasaki family was losing the grip on the company shares and many core holding
companies were released to the public. By the wars end investors made up half
of the company’s equity. In the end Mitsubishi’s headquarters disbanded,
leading to corporate fragmentation that resulted in formation of thousands of
autonomous enterprises. In 1946 companies that were part of Mitsubishi gave up
its name and trademark logo due being pressured from the occupation
forces. In 1954 a group of 100 companies
that had been a part of Mitsubishi has started to regroup and to reestablished
original Mitsubishi name and logo. Mitsubishi started to flourish again during
the 50's and 60's. The company continued to expand in their existing branches
and new ventures.
Mitsubishi Heavy Industries consists of over 130 different companies
encompassing a range of product categories. With headquarters based in Japan,
MHI employs approximately 62,940 people worldwide and reported net revenues of
$26, 234.5 million in 2006. Mitsubishi Heavy Industries is a Fortune 500
company ranking in at 257 in 2007 and garnering a second place spot behind
Caterpillar in the industrial and farm equipment industry.