Chanda ranga: Mitsubishi Parts

Monday 6 August 2012

Mitsubishi Parts

Mitsubishi Electric was part of the enormous Mitsubishi Corporation, Japan's largest company. Mitsubishi Corporation was begun in 1870 when a young nobleman descended from samurai, Yataro Iwasaki, leased three ships and began a shipping company. He created the symbol for his company of three diamonds touching at a point, the source for the name Mitsubishi, which means "three diamonds." He and his successors spun off new companies and purchased others, uniting them all through family ownership; such a gathering of companies tied together by family ownership was called a zaibatsu .
In 1921 the part of the Mitsubishi shipbuilding company that specialized in manufacturing electrical systems for ships was spun off and incorporated into Mitsubishi Electric Corporation. By Nomakuchi's era, Mitsubishi Electric would manufacture electronic equipment, communications equipment, components for automobiles, and machines for construction, transportation, and energy industries. Before and during World War II, the parent company, Mitsubishi Corporation, was deeply involved in the buildup and support of Japan's military, and many in Japan as well as outside Japan blamed Mitsubishi Corporation and Japan's other powerful zaibatsu for encouraging Japan's militarism in order to profit from Japan's wars. After Japan's defeat in 1945, the Allies broke up the zaibatsu into many smaller companies. Mitsubishi Corporation was broken up into more than one hundred companies, but almost immediately Mitsubishi Electric began to recover by producing consumer electronics, such as radios, in 1945.
During the 1950s and 1960s many of the former members of Mitsubishi Corporation formed ties by buying shares in one another, and the holding company Mitsubishi Corporation was reborn as a keiretsu , a group of companies tied together through cross-ownership and traditional association. Traditionally, members of a keiretsu were expected to work together and consult with one another about business plans. As president and chief executive officer of Mitsubishi Electric, Nomakuchi showed an independence of mind, insisting that members of the Mitsubishi keiretsu were like members of a family who were independent of each other—implying that cooperation with one another was not required.