The 

Mitsubishi Group (三菱グループ, Mitsubishi Gurūpu, also known as the Mitsubishi Group of

Companies or Mitsubishi Companies, and informally as the Mitsubishi Keiretsu) is a group of
autonomous Japanese multinational companies in a variety of industries.
Founded by Iwasaki Yatarō in 1870, the Mitsubishi Group historically descended from
the Mitsubishi zaibatsu, a unified company which existed from 1870 to 1946. The company was
disbanded during the occupation of Japan following World War II. The former constituents of the
company continue to share the Mitsubishi brand and trademark. Although the group companies
participate in limited business cooperation, most famously through monthly "Friday Conference"
executive meetings, they are formally independent and are not under common control. The four
main companies in the group are MUFG Bank (the largest bank in Japan), Mitsubishi
Corporation (a general trading company), Mitsubishi Electric and Mitsubishi Heavy Industries (both
being diversified manufacturing companies).

Contents

 1History
o 1.1World War II
o 1.2Post-war era
 2Mitsubishi companies
o 2.1Business form
o 2.2Core members
o 2.3Other members
o 2.4Related organizations
o 2.5Former members
 3See also
 4References
 5External links

History[edit]

Yatarō Iwasaki, the founder of Mitsubishi

The Mitsubishi company was established as a shipping firm by Iwasaki Yatarō (1834–1885) in 1870.

In 1873, its name was changed to Mitsubishi Shokai. The name Mitsubishi (三菱) consists of two
parts: "mitsu" (三) meaning "three" and "hishi" (菱, which becomes "bishi" under rendaku) meaning
"water caltrop", and hence "rhombus", which is reflected in the company's logo. It is also translated
as "three diamonds".[1]
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 used to expand the business further
into the manufacture of aircraft and equipment. The experience of overseas shipping led the firm to
enter into a trading business.[2]
In 1881, the company bought into coal mining by acquiring the Takashima Mine, followed
by 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.[3]
In February 1921, the Mitsubishi Internal Combustion Engine Manufacturing Company in Nagoya
invited British Sopwith Camel designer Herbert Smith, along with several other former Sopwith
engineers to assist in creating an aircraft manufacturing division. After moving to Japan, they
designed the Mitsubishi 1MT, Mitsubishi B1M, Mitsubishi 1MF, and Mitsubishi 2MR.
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:
o Mitsubishi Motors, the sixth-largest Japan-based car manufacturer.
o Mitsubishi Atomic Industry, a nuclear power company.
o Mitsubishi Chemical, the largest Japan-based chemicals company
o Mitsubishi Hitachi Power Systems, a power generation division
o Nikon Corporation, specializing in optics and imaging.
The firm's prime real estate holdings in the Marunouchi district of Tokyo, acquired in 1890, were
spun off in 1937 to form Mitsubishi Estate, now one of the largest real estate development
companies in Japan.[4]

World War II[edit]

Mitsubishi A6M "Zero" fighter

During the Second World War, Mitsubishi manufactured military 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, and it was very successful in
combat until the Allies devised tactics to use their advantage in armor and diving speed.[5][6][7][8][9][10][11][12][13]
Mitsubishi made use of forced labor during this tenure. Laborers included allied POWs, as well as
Chinese citizens. In the post-war period, lawsuits and demands for compensations were presented
against the Mitsubishi Corporation, in particular by former Chinese workers. On July 24, 2015, the
company agreed to formally apologize for this wartime labor, and compensated 3765 Chinese
laborers who were conscripted to Mitsubishi Mining during the war.[14] On July 19, 2015, the company
apologized for using American soldiers as slave laborers during World War II, making them the first
major Japanese company to apologize for doing so.[15]
Mitsubishi was involved in the opium trade in China during this period.[16]

Post-war era[edit]
Mitsubishi was among a number of major Japanese conglomerates targeted for long dissolution
during the occupation of Japan. It was broken up into a large number of smaller enterprises whose
stock was offered to the public. For several years, these companies were banned from coordinating
with each other and from using the Mitsubishi name and trademarks. These restrictions were lifted in
1952, as the Korean War generated a need for a stronger industrial base in Japan. Mitsubishi
Corporation and Mitsubishi Heavy Industries, which had themselves been broken up into many
smaller entities, again coalesced by the mid-1950s.[17]
Mitsubishi companies participated in Japan's unprecedented economic growth of the 1950s and
1960s. For example, as Japan modernized its energy and materials industries, the Mitsubishi
companies created Mitsubishi Petrochemical, Mitsubishi Atomic Power Industries, Mitsubishi
Liquefied Petroleum Gas, and Mitsubishi Petroleum Development. The traditional Mitsubishi
emphasis on technological development was in new ventures in such fields as space development,
aviation, ocean development, data communications, computers, and semiconductors. Mitsubishi
companies also were active in consumer goods and services.
In 1970, Mitsubishi companies established the Mitsubishi Foundation to commemorate the
centennial anniversary of the founding of the first Mitsubishi company. The companies also
individually maintain charitable foundations. Mitsubishi pavilions have been highlights of expositions
in Japan since EXPO'70 in Osaka in the 1970s to 1980s.
Mitsubishi, along with other manufacturers, was affected by the Kobe Steel scandal in 2017, which
involved falsified data for products supplied to the aerospace, car and electric power industries.
On November 28, 2018, the South Korea Supreme Court ordered Mitsubishi Heavy Industries, which
serves as one of Mitsubishi's core companies, to pay 10 Koreans 150m won ($133,000; £104,000) in
compensation for forced labor which it oversaw during the Japanese occupation of Korea.[18][19] 18
family members of other victims of the forced labour which Mitsubishi Heavy Industries oversaw and
who sued sometime before 2008 will also be awarded compensation as well.[19] All 28 plaintiffs had
previously filed a lawsuit in Japan, but had their lawsuit dismissed by the Supreme Court of Japan in
2008.[19] The Japanese Government has responded to the court's decision that it is a breach of the
international law, citing the agreement between the two countries.

Mitsubishi companies[edit]
Business form[edit]
The Tokyo Building, the headquarters building of Mitsubishi Electric Corporation in Tokyo

Mitsubishi EDM/Laser office in North America

The main campus of Seikei University

The Mitsubishi Group is made up of about 40 individual companies without a controlling parent
company. Each of the Mitsubishi companies owns substantial (but usually not controlling) portions of
the shares of the others.
Twenty-nine of the group companies participate in the Friday Conference (金曜会, Kinyō-kai), a
luncheon meeting of their most senior executives held on the second Friday of each month. The
group began its tradition of monthly executive meetings in 1952, and over time the meetings became
a venue for coordinating policy between the group companies. However, by the 1990s, this practice
was criticized (particularly by non-Japanese investors) as a possible violation of antitrust law. Since
1993, the Friday Conference has officially been held as a social function, and not for the purpose of
discussing or coordinating business strategy. Despite this, the Friday Conference has been a venue
for informal cooperation and coordination between the group companies, most notably in bailing
out Mitsubishi Motors during the mid 2000s.[20]
In addition to the Friday Conference, the group companies' heads of general affairs hold a meeting
on the third Monday of each month, and the group companies' legal and IP departments hold a
trademark policy coordination meeting on the first Friday of each month.[20]
Core members[edit]
Three of the group companies are informally known as the "Three Great Houses" (御三家, go-san-
ke) and hold a separate coordinating meeting prior to each Friday Conference:[20]

 MUFG Bank
 Mitsubishi Corporation
 Mitsubishi Heavy Industries
Ten other "major" group companies participate in the coordinating meeting on a rotating basis (with
six of the ten companies participating in any given month):[20]

 AGC Inc.
 Kirin Company
 Meiji Yasuda Life
 Mitsubishi Chemical Holdings
 Mitsubishi Electric
 Mitsubishi Estate
 Mitsubishi Materials
 Mitsubishi UFJ Trust and Banking Corporation
 NYK Line (Nippon Yusen Kabushiki Kaisha)
 Tokio Marine Nichido
Other members[edit]
 Eneos Holdings
 Mitsubishi Fuso Truck and Bus Corporation
 Mitsubishi Logistics
 Mitsubishi Motors
 Mitsubishi Paper Mills
 Mitsubishi Plastics
 Mitsubishi Rayon
 Mitsubishi Research Institute
 Mitsubishi Shindoh
 Mitsubishi Steel Manufacturing

 MSSC

 Mitsubishi UFJ Securities

 Nikon
 P.S. Mitsubishi Construction
Related organizations[edit]
 Atami Yowado
 Chitose Kosan
 Dai Nippon Toryo
 The Dia Foundation for Research on Ageing Societies
 Diamond Family Club
 Kaitokaku
 Koiwai Noboku Kaisha
 LEOC Japan
 Marunouchi Yorozu
 Meiwa Corp.
 Mitsubishi C&C Research Association
 Mitsubishi Club
 Mitsubishi Corporate Name and Trademark Committee
 Mitsubishi Economic Research Institute
 Mitsubishi Electric Automation
 Mitsubishi Foundation
 Mitsubishi Kinyokai
 Mitsubishi Marketing Association
 Mitsubishi Motors North America
 Mitsubishi Public Affairs Committee
 The Mitsubishi Yowakai Foundation
 MT Insurance Service
 Nippon TCS Solution Center
 Seikadō Bunko Art Museum
 Shonan Country Club
 Sotsu Corporation
 Tōyō Bunko
 Seikei University
 All Mitsubishi Lions
Former members[edit]
 Nippon Crown (sold to Daiichi Kosho Company in 2001)

See also[edit]
 Anti-Japanese sentiment in Korea
 List of aircraft by Mitsubishi
 Mitsubishi Pencil Company (not a part of the Mitsubishi zaibatsu)

References[edit]
1. ^ "mitsubishi.com - About Mitsubishi - Mitsubishi Mark -". www.mitsubishi.com.
2. ^ Odagiri, Hiroyuki (1996). Technology and Industrial Development in Japan. Oxford
University Press. p. 76.  ISBN  0-19-828802-6.
3. ^ "The History of Mitsubishi Group". GearHeads. 19 May 2012. Retrieved 25 October  2012.
4. ^ "History". Mitsubishi Estate Co., Ltd. Retrieved 7 September2015.
5. ^ Wilcox, Richard (9 November 1942). "The Zero". Life Magazine.
6. ^ Jablonski, Edward. Airwar. New York: Doubleday & Co., 1979. ISBN 0-385-14279-X.
7. ^ Green and Swanborough 2001
8. ^ Hawks, Chuck. "The Best Fighter Planes of World War II". chuckhawks.com. Retrieved: 30
July 2015.
9. ^ Young, Edward M. (2013).  F4F Wildcat vs A6M Zero-sen. Osprey Publishing.
p. 36.  ISBN  9781780963228.
10. ^ Thompson with Smith 2008, p. 231.
11. ^ Mersky, Peter B. (Cmdr. USNR). "Time of the Aces: Marine Pilots in the Solomons, 1942–
1944." ibiblio.org. Retrieved: 30 July 2015.
12. ^ Angelucci and Matricardi 1978, p. 138.
13. ^ Willmott 1980, pp. 40–41.
14. ^ "Archived copy". Archived from  the original on 2016-03-05. Retrieved 2018-12-02.
15. ^ "Mitsubishi Materials apologizes for using U.S. POWs as slave labor".  Reuters. 20 July
2015. Retrieved  19 July 2015.
16. ^ Hastings, Max  (2007). Retribution. New York: Vintage. p.  413. ISBN 978-0-307-27536-3.
17. ^ Morris-Suzuki, Tessa, ed. (1989). Japanese Capitalism Since 1945: Critical Perspectives.
p. 109.  ISBN  9780873325516.
18. ^ Denyer, Simon.  "New South Korean court ruling angers Japan, deepening crisis between
America's closest Pacific allies". The Washington Post.
19. ^ Jump up to:a b c "Mitsubishi payout ordered over WW2 labour". 29 November 2018 – via
www.bbc.com.
20. ^ Jump up to:a b c d "三菱グループの最高決定機関「金曜会」の知られざる権力構造と裏序
列". Shukan Diamond. 25 January 2016. Retrieved  28 April 2016.