A Brief History
On February 7, 1885, one of the first great industrialists to bring Japan from a backwater third world nation to a modern industrial giant died of stomach cancer. The founder of the giant Mitsubishi Company, Iwasaki Yataro left the company in the hands of his brother.
Digging Deeper
Born in 1835, Yataro had humble roots, and his education was cut short when he was sent to prison at age 19 for accusing a local government official of corruption concerning a dispute with Yataro’s father. After serving a 7 month prison term, Yataro found it hard to find a job and went to Edo (now Tokyo) where he found work as a teacher and companionship with politically active reformers that sought to open Japan to the modern world.
Working as a government clerk, Yataro worked his way up to the top position in the Tosa clan’s trading office in Nagasaki, earning enough to buy back his family’s Samurai status. When the Meiji Restoration caused the end of the Shogunate business system, Yataro went to Osaka where he headed the Tsukumo Trading Company, which became Mitsubishi in 1873.
The name “Mitsubishi” comes from the Japanese for three (mitsu) and water chestnut (hishi). The water chestnut is diamond shaped, which is the source of the 3 diamond symbol of the modern Mitsubishi company displayed prominently on their motor vehicles.
Mitsubishi became closely associated with the Japanese government through a series of contracts to deliver soldiers, arms and ammunition as well as subsequent shipping contracts through the late 19th Century. The success and modernization of Japan was mirrored by the rise of Mitsubishi, which Yataro had diversified into mining, manufacturing, finance, ship repair and heavy industry.
Although Yataro died in 1885, the Mitsubishi company continued to grow into an enormous conglomerate of many diverse pursuits.
Although the base company was disbanded after World War II (they had produced the Zero airplane and many other weapons of war), the surviving companies continued to share the heritage of the parent and today Mitsubishi (“The Mitsubishi Group of Companies”) has around 350,000 employees and revenue of around $250 Billion per year.
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Historical Evidence
For more information, please see…
The origin of the theory of enterprise corporate Japan Iwasaki Yataro of “Mitsubishi”. Asahi Shimbun Publishing, 2010.
<span class="dsq-postid" data-dsqidentifier="14313 https://www.historyandheadlines.com/?p=14313">28 Comments
That is interesting that Mitsubishi became more popular from delivering ammunition to the Japanese army. Yataro would be happy to see that his company is now making $250 Billion a year.
I did not realize that Mitsubishi did so much more than making automobiles. It is also interesting that Yataro went from being in prison at age 19 to heading one of the world’s most successful companies.
Yataro evolved very much from his teenage years and left the world with a developing car company in which is successful and very well known to this day. Very interesting story to learn about how Mitsubishi came to be.
What a large company! It is interesting to hear that when it was started Japan was still considered a third world country. Iwasaki was a brilliant mind for his time both politically and in business.
I think that while Mitsubishi is most famous for being an automobile company, it is cool to see how many different pursuits it was involved in such as mining, ship repair, etc. I think that Mitsubishi was critical in the industrial development of Japan and it shows in how the company’s success is ongoing.
When I think of Mitsubishi, I think only of an automobile company. The roots of the company are interesting. Yataro was able to head a diverse organization, and I thought it was interesting to find out they were in the aviation business during the World Wars.
I was surprised to learn that Mitsubishi has such a storied history. I also never realized that it was a conglomerate. I see their chestnut logo on many different goods, now that I think about it.
I always thought their logo was supposed to be a sort of fancy “M” but I guess it has more of a back story than I thought. I also did not realize that it is a billion dollar company, I rarely ever seen anyone drive a Mitsubishi anymore.
It is interesting to learn how different car brands were started. I find it surprising that Yataro served time in jail and was able to overcome the troubles of that and still start something as successful as Mitsubishi.
I always wondered if Mitsubishi actually meant anything and reading about it was very interesting. Successful people such as Yataro are always fun to read about. He managed to create one of the biggest companies in the world even after he was imprisoned at 19. What an inspiration to never give up!
The name Mitsubishi means “three water chestnuts” and because water chestnuts are diamond shaped the symbol for the company is three diamonds. Yataro did very well for himself despite having his education cut short and having spent time in jail. Mitsubishi was one of the first major companies to modernize Japan and pull them out of their third world status. Although Yataro died in 1885 the company still prospers today.
I never knew Mitsubishi was responsible for bringing Japan into the industrial world. I also didn’t know Mitsubishi produced so many other things like airplanes and weapons for world war 2. It’s amazing Yataro was able to become so successful after having been in prison and coming from being a teacher.
It is amazing what one man with an education that was cut short can do! Mitsubishi is a huge company, mainly known as a car manufacturer (to me). Yataro’s story shines a light on how important family status is in the Asian culture. Yataro was able to buy back his family’s samurai status, which was probably very important to him.
Mitsubishi is a power house in to car industry today. It is also interesting to see the history of the war production how they have evolved as company and helped the country through the war.
Yataro evidently proved his eagerness to change the world by going to prison for making an accusation about the local government. His leadership was then strengthened through his work experiences, which led him to be in charge of a car company is large as Mitsubishi. It is interesting to learn where the name came from.
It is interesting to read about how a popular car manufacturer came about. I never knew that the name Mitsubishi came from two Japanese words meaning three (mitsu) and water chestnut (hishi). These two words also create the symbol for Mitsubishi. It is amazing that Yataro was able to make such a huge impact in Japan and lead a major car company with such little education.
How Yataro was able to bounce back and have such an impact on his country after being in prison for so long (in a country that takes that stuff very seriously) is very inspiring!
Yataro went from being in prison for seven months for accusing a government official to working for the government then being the head of a company. This many had a journey were he went from the bottom and rose to the top. The good part is his took back his family name and made it good again.
It goes to show that with hard work and determination, someone can change their life around within a couple of years. From being in prison to being the head of a company that is now making up to $250 Billion per year.
Mitsubishi is a powerful brand even in today’s world. He started a company so long ago but it is still current and important today. This company definitely helped Japan join the world as a superpower.
Mitsubishi is one of the most recognizable Japanese companies we know today. Knowing its roots in Iwasaki Yataro is very fascinating, from coming up out of jail to becoming a samurai. His story shows that inspiration and dedication can make a monumental difference in the world.
I had no idea Mitsubishi was so intertwined with the government and its wars, having contracts to deliver soldiers and other war supplies. It’s weird to think how much a government relies on businesses located in its own country.
After all of these years, I believe that Yataro would be extremely proud with the growth of the company. It is very cool to read about the logo on the car still being intact although created so long ago.
Yataro fought hard to accomplish big things in his life. After reading what the Mitsubishi company encompasses he definitely accomplished major things. I have thought that Mitsubishi was just a car manufacturer this whole time, but the company is practically involved in almost every industry!
Yataro lived an interesting life, and demonstrated that he was willing to work hard to achieve the things that he wanted. He was able to buy his family status back, and then started a multi-billion dollar conglomerate that exists to this day.
I knew that Mitsubishi was involved in many products besides automobiles, but I never realized how old its history actually is! Yataro worked very hard to get to where he did, and thankfully for his sake, the Mitsubishi brand went on to become a success.
Interesting to see the start of this company, and there responsibilities they had with the government. I am still not a fan of this brand of car.
I never knew how far back in history Mitsubishi went!