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Mitsui was one of the first of
the zaibatsu, or
family-run corporate conglomerates, of Japan.
Founded before Japan's modern era by Mitsui Takatoshi, initially as a
producer of miso (bean
paste), the family business expanded into pawn and kimono shops,
introducing new business techniques that proved highly profitable. On 1
July 1876 the conglomerate moved into the modern world by founding
Japan's first private bank.
Like the
other zaibatsu, Mitsui benefited from favorable
tax policies and
government subsidies during the Meiji era, which were intended to
promote the modernization of
Japan.
During the Pacific War, Mitsui diversified into
shipbuilding with its yard at Tamano. The yard specialized in
construction of diesel vessels, including escort vessels of the Etorofu
and Ukuru classes and landing craft
depot ships of the Mayasan Maru class. The company
has also been accused of involvement in the distribution of opium in
north China during the war years
(Hastings 2007).
References
Hastings
(2007)
The Pacific War Online Encyclopedia © 2009 by Kent G. Budge. Index
