History of Mitsubishi

The origin of Mitsubishi goes back to 1870, when the founder, Yataro Iwasaki, started a shipping firm with three aging steamships. Yataro's brother, son and nephew expanded the business into various fields during their respective terms as president and set the foundation of the Mitsubishi companies. After WWII, the original Mitsubishi organization was disbanded to become independent companies as they are today. Here is a summary of the 130 years history shared by the Mitsubishi companies.
The history of "Mitsubishi" parallels the story of modern Japan. The founder, Yataro Iwasaki was from the prefecture of Kochi on the island of Shikoku, which was the home of the powerful Tosa clan. He worked for the clan and distinguished himself in managing its Osaka trading operations. In 1870, he set up his own shipping company, Tsukumo Shokai, with three steamships chartered from the clan. This was the beginning of Mitsubishi.

The company grew rapidly while undergoing a number of name changes including Mitsukawa Shokai, Mitsubishi Shokai, Mitsubishi Jokisen Kaisha (Mitsubishi Steamship Company), Yubin Kisen Mitsubishi Kaisha (Mitsubishi Mail Steamship Company).
Mitsubishi Mail Steamship Company inaugurated service to China and became the first Japanese company to open an overseas route. But the political winds shifted against Mitsubishi in the early 1880s, and the government sponsored the establishment of a competitor. The ensuing competition nearly bankrupted both companies.
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