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September, 23

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Did you know?MitsuiNPC - Mitsui
Mitsui Group is one of the largest corporate conglomerates (keiretsu) in Japan and one of the largest publicly traded companies in the world. It was founded during the Japanese Enpō ("Prolonged Wealth," 1673–1681) era (nengō) by Mitsui Takatoshi (1622–1694), who expanded the family business by opening a store in Edo (Tokyo) called "Echigoya," where ready-made clothing could be purchased for cash instead of being made-to-order.

In the seventeenth century, the Mitsui family established close ties with the Tokugawa shogunate and began operating a system of money exchanges. They received a series of concessions that allowed the company to expand into many areas of business. The Mitsui keiretsu took an active role in the modernization of Japan during the Meiji period, expanding trade overseas, developing mineral resources and manufacturing, and establishing a vast banking, shipping and transportation network. During the United States occupation of Japan following World War II, the Mitsui zaibatsu was dissolved.

In the 1950s, Mitsui reorganized as a loose conglomerate of companies sharing a common financial, logistical, and technical infrastructure. The Mitsui group comprises several dozen companies, most of which are large, multinational corporations based in Tokyo or Osaka with offices and subsidiaries overseas. Some are engaged in joint ventures with foreign companies. Mitsui & Co. maintains a global network of 160 offices in 69 countries, and has 565 subsidiaries and associated companies worldwide. Mitsui is involved in cement, petrochemicals, commerce, construction, energy, engineering, finance and insurance, food, machinery, mining, nonferrous metals, real estate, and shipping industries.

The Mitsui Group was a pioneer in globalization, establishing operations in many countries and creating a system of banks and transportation to facilitate international trading. Throughout their business activities, Mitsui Group companies incorporate a distinctive Corporate Social Responsibility (CSR) policy emphasizing environmental and social accountability.

Source: New World Encyclopedia