Mitsubishi Group History

Mitsubishi was founded in 1870, the two years after the Imperial Restoration, and it was the ocean transportation that was its core business. The diversification of its products was mainly in the adjacent areas. It penetrated into coal mining for obtaining ship coal, bought a shipyard from the government (for ship repair), established a small iron plant that supplied iron to its shipyard, as well as founded a marine insurance business that served its shipping business, and so on.

Following, the same shipbuilding operation brought along technical skills and managerial resources which were put to use in expanding the company beyond to the new lines of aircraft and equipment production. By overseas shipping, the company has got aware of a business opportunity [5] which is connected with trade.

In 1881, the firm ushered into the coal mining industry by administering the Takashima mine, and after that they bought Hashima Island in 1890, using its production to supply their advanced steamship fleet. Moreover, they branched out into other businesses such as shipbuilding, banking, insurance, warehousing, and trade.

At a later point, the organization included products like pulp, steel, glass, electrical equipment, aircraft, oil and real estate. With Mitsubishi expanding a wide-ranged conglomerate, it became the key in the modernization process of different industrial sectors in Japan

List of Companies owned by the Mitsubishi Group: Mitsubishi Group, a loose confederation of autonomous Japanese companies that were founded out of the giant, family-owned Mitsubishi business combine, or zaibatsu, which was disintegrated and reestablished in April 1950.

The origin of the group of companies, Mitsubishi, was the Mitsubishi trading and shipping enterprise, Mitsubishi Commercial Company, established in 1873 by Iwasaki Yatarō, who bought out a government-run shipping company way back in 1871. The Japanese government, through its project that aimed at expanding both commerce and industry, lent Iwasaki financial assistance for several years in turn, and the company became the largest shipping firm in Japan.