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| March 11th, 2010 |
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Yataro Iwasaki was an ambitious young man who established the first Mitsubishi company - a shipping firm, in 1870. He began with three obsolete steamships. His company grew. He branched into shipbuilding and mining. His successors expanded the organization further, developing power positions in heavy industry, chemicals, oil refining, aircraft production, banking, real estate, insurance. They built a vast and highly integrated industrial combine. Then came World War II. After the war, Mitsubishi was broken up into scores of independent companies. Their days as a single organization were over. They had to find new ways to survive and grow. Independence meant that the Mitsubishi companies had to reinvent themselves. Each had carved out a unique role for itself during the difficult years of postwar reconstruction. In the boom years that followed, they really came into their own. Some of the Mitsubishi companies were leaders in the heavy industry that drove Japan's economic resurgence. Others created consumer products that captured the imagination of people everywhere. Eventually, the name Mitsubishi became a household name around the world. It stood for excellence.
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