Foundation: 1873
Headquarters: Chiyoda Ward, Tokyo
President and CEO: Takehiko Kakiuchi
Executive Summary: Mitsubishi Corporation is Japan’s largest trading company, encompassing seven business segments: finance, banking, energy, machinery, chemicals, and food. Founded in 1873 by Yataro Iwasaki as Mitsubishi Commercial Company, it initially grew to become Japan’s largest shipping firm before diversifying into mining, finance, warehousing, shipbuilding, real estate, and banking. During the prewar and wartime periods, Mitsubishi was a significant supplier for the military, producing warships and the famous Zero fighter airplane.
Following Japan’s defeat in the Pacific War, under the orders of the General Headquarters (GHQ) of the Supreme Commander for the Allied Powers, large conglomerates like Mitsubishi were forced to disband. The original Mitsubishi Shoji was dissolved in 1947, leading former employees to start new ventures with stringent GHQ regulations limiting their collaboration. Out of these, by 1952, four major companies emerged, culminating in a merger on July 1, 1954, to form the new Mitsubishi Shoji, which focused on revitalizing Japan’s economy through export support and international office establishment. This period saw a tripling of Japanese exports, largely due to Mitsubishi’s efforts.
Mitsubishi’s strategic partnerships included a joint venture with Shell to form Showa Yokkaichi Sekiyu, securing Japan’s crude oil import and refining rights, making Mitsubishi the first in Japan to engage in primary distribution. The company also invested in the Atacama Mine in Chile with Mitsubishi Chemicals, bolstering both economies. In 1968, Mitsubishi committed to LNG development in Brunei, expanding into iron ore and coal projects in Australia and Canada, and salt fields in Mexico.
In 1971, Mitsubishi Shoji officially became Mitsubishi Corporation. The 1980s involved restructuring, focusing more on profitability than just transaction volumes. Despite trade frictions with the United States, Mitsubishi thrived by selling steel plants in the U.S., maintaining power generation in oil-rich countries, and expanding LNG production through the Saudi Arabian Petrochemical Project.
Over the years, Mitsubishi has also engaged in social services, emphasizing five key areas: global environment, public welfare, education, culture and art, and international exchange. Its annual revenue is in the range of US$50 billion.
