Historical Events Suggest a Vision of the Future

Transcription

The Three Principles
of Mitsubishi’s Business Management Philosophy
The Mitsubishi Group’s members, many affiliated and wholly owned subsidiary companies, strategically
represent a diversified business matrix. Each member within the Group operates with autonomy, while
displaying its own characteristics and sharing historical background and management philosophies. The
common philosophies are the Three Principles.
The Three Principles are the management philosophies created by the fourth president, Koyata Iwasaki,
and are considered to be “Mitsubishi Group’s DNA,” inherited like an unbroken string of traditions. Backed
by these philosophies, the members of the Group continue to look to the future, while actively and openly
pursuing their respective operations.
“Shoki Hoko” =
Corporate Responsibility to Society
“Shoji Komei” =
Integrity and Fairness
“Ritsugyo Boeki” =
Global Understanding
through Business
Strive to enrich society, both
materially and spiritually, while
contributing towards the preservation of the global environment.
Maintain principles of transparency and openness, conducting
business with integrity and
fairness.
Expand business, based on an
all-encompassing global
perspective.
Commerce is a public undertaking and
President Koyata was known to have
At the outbreak of the Pacific War, Presi-
one requiring corporations to take respon-
repeatedly cautioned Mitsubishi managers
dent Koyata made a bold statement about
sibility for many of the interests affecting
against focusing blindly on profits and
the friendship between international busi-
the countries in which they operate. This
losing sight of the Group’s adherence to a
ness partners now separated by war: “We
philosophy has been a cornerstone of
high standard of ethical behavior amid
count many British and Americans among
Mitsubishi’s management policies from its
unprecedented competition, urging them
our partners. They have undertaken many
beginnings. In order for a corporation to
to respond to competitors’ unscrupulous
projects with us and so should peace come
create sustainable prosperity, it is essen-
business practices with integrity and for-
again, they will once again become good
tial that it operates in a manner that is
bearance. He reminded them often of the
and faithful friends.”
conducive to achieving this goal for the
importance of meeting the expectations of
greater society.
their customers and the public by exhibiting high ethical conduct in all their transactions. He was also well known for his
observance of cultural differences around
the world and the local customs of the
communities in which Mitsubishi conducted business.
4
Mitsubishi Profile
Mitsubishi Profile
5
The Four Presidents Who Built the Foundations of Mitsubishi
●1835
Yataro Iwasaki, founder of Mitsubishi, was born in
Inokuchi Village in Tosa.
Historical Events Suggest 1830
a Vision of the Future
●1853
Matthew C. Perry, the Commodore of the
U.S. Navy, arrived at Uraga.
●1854
Yataro had an opportunity to
go to Edo as an assistant to
Zosai Okunomiya, a Confucian scholar, who was on an
assignment to Edo.
●1870
Tsukumo Shokai is launched to take over
the Tosa Clan’s shipping business.
●1874
The company changed its
name to Mitsubishi Jokisen
Kaisha and its headquarters
were moved to Tokyo.
●1872
Tsukumo Shokai changed its name to Mitsukawa Shokai.
The first steam train operated between Shimbashi
and Yokohama.
●1867
The Meiji Restoration (The Tokugawa
Shogunate returns political power to
the Emperor Meiji)
●1873
Mitsukawa Shokai changed its name to Mitsubishi Shokai.
Mitsubishi Shokai purchased the Yoshioka Mine in Okayama.
The Yoshioka Mine
A steamship of the Tosa Clan
(Library of Kochi City)
Establishing Mitsubishi in a Time of
Tremendous Upheaval and Change
Yataro Iwasaki Founder of Mitsubishi
When we look back on history, there have
always been new businesses arising
during times of political and social change.
The final days of the Tokugawa Shogunate
and the Meiji Restoration that followed in
1868 was one such period, and it was
Yataro Iwasaki who had the knowledge
and the vision to see a new era coming,
and with it the need for strong and organized international commerce.
Yataro Iwasaki was born in 1835 and
as a young man worked for the Tosa Clan,
one of the most powerful merchant clans
of the time. Exporters of specialty goods
such as camphor, dried bonito, importers
of warships and weapons, the clan initially
conducted its business operations in
Nagasaki, the only sea port authorized to
conduct trade between Japan and the
outside world. Due to Yataro’s strong
leadership and business savvy, the clan’s
6
Mitsubishi Profile
three years later changed its name to
This remarkably skillful business
heralding an era of growth that made Mit-
Mitsubishi Shokai. The following year its
visionary further moved Mitsubishi into
subishi one of the world’s leading ship-
headquarters were moved to Tokyo and
other businesses that included shipping
building companies.
the company was renamed Mitsubishi
documentation services, warehousing
Jokisen Kaisha.
and financial services. In 1881, the com-
Under an exclusive contract from the
pany purchased an extremely unprofitable
government, Mitsubishi provided the ships
coal mine owned by Shojiro Goto, in
that carried Japanese troops to Taiwan in
Nagasaki, and with the introduction of
1874, and later to Satsuma when the
new mining technology developed by
Southwestern Rebellion broke out in 1877.
Mitsubishi, the business became highly
This business earned Mitsubishi the trust
profitable. In 1884, Mitsubishi leased the
business operations were eventually
have access to, all the more remarkable
of Japan’s government and the financial
Nagasaki Shipyard and later purchased
moved to Osaka. When the Meiji govern-
because of his roots in a small village in
rewards of this business relationship solidi-
the facility from the Japanese government,
ment set out a policy of banning the
Tosa, Japan. Moving to Tokyo under the
fied the financial base for the company for
system of clan-led businesses, powerful
tutelage of Zosai Okunomiya, a prominent
the future. During this period, Mitsubishi
members of the Tosa clan, Shojiro Goto
Confucian scholar of the time, Yataro was
owned 61 ships, or 73% of the gross
and Taisuke Itagaki, established Tsukumo
destined for greatness.
tonnage of Japan’s steamship fleet.
Shokai, Mitsubishi’s predecessor, in 1870
the abolition and in the turbulent period of
Mitsubishi’s
transformation into
a shipping company
The remarkable
contributions
of Yataro Iwasaki
change that followed, Yataro took over the
In 1867, Yataro was appointed manager
Established in 1873, Mitsubishi Shokai
management and formed Mitsubishi
of the trading operations of the Tosa
originally conducted business primarily
Shokai, making him one of the most suc-
Clan’s business interests in Nagasaki. As
as a shipping and trading company, but
cessful and powerful businessmen in the
Japan continued to open to Western
Yataro skillfully moved the company in
new Japan.
trade, ports in Osaka, Kobe and Yokohama
the direction of diversification, and into
emerged as centers of commerce, replac-
mining early in its history. With the pur-
ing Nagasaki, which had long been
chase of the Yoshioka Mine, in Okayama,
Japan’s only officially designated open
the company introduced modern tech-
Very early in his life, Yataro understood the
port. In 1869, Yataro was assigned to
nology that resulted in the discovery of
importance of a good education. Studying
Osaka and became manager of the clan’s
previously hidden rich veins of copper,
under a noted scholar of the time, Neiho
Osaka operations. In 1870, Tsukumo
transforming the mine’s dwindling pro-
Okamoto, the boy received an education
Shokai was established with three steam-
duction to one of Japan’s highest pro-
only the very privileged of his day could
ships chartered from the Tosa Clan, and
ducing copper mines.
to take over the clan’s shipping business.
In 1873, the new government enforced
The early years
of Yataro Iwasaki
●1879
Tokio Marine Insurance
Company was established
as the first non-life insurance
company in Japan.
1870
●1859
Thomas B Glover came to Japan to
manage newly established Nagasaki
office of a British trading house.
The Four Presidents Who Built
the Foundations of Mitsubishi
A visionary and
formidable entrepreneur
●1875
Mitsubishi Jokisen Kaisha
became Yubin Kisen
Mitsubishi Kaisha.
The Four Presidents of Mitsubishi
Origins of
the Famous Emblem
Yamauchi
Family Crest
Mitsu-gashiwa
(three oak leaves)
Yataro
Founder and
First President
Iwasaki
Family Crest
Sangai-bishi
(three-tiered
water chestnut)
Hisaya
Yataro’s Son
Third President
Ship flag design of
Tsukumo Shokai,
the forerunner of
Mitsubishi, around
1870
Mitsubishi trademark, registered
in 1914
Yanosuke
Yataro’s Brother
Second President
Koyata
Yanosuke’s Son
Fourth President
The name “Mitsubishi” refers to the
three-diamond emblem.
“Mitsubishi” is a combination of the
words “mitsu” and “bishi”.
Mitsubishi Profile
7
●1880
Yataro founded Mitsubishi
Exchange House.
●1881
Mitsubishi purchased the Takashima coal mine in
Nagasaki.
Meiji Life was established as the first modern life
insurance company in Japan.
●1886
Hisaya entered the University
of Pennsylvania.
1880
●1889
The Imperial Japanese
Constitution was issued.
●1894
Mitsubishi Ichigokan was
completed in Marunouchi.
●1896
Yanosuke took office as the
4th Governor of The Bank of
Japan.
1890
●1884
Mitsubishi leased the Nagasaki
Shipbuilding Yard from the government.
●1886
The company changed its
name to Mitsubishi Sha.
●1890
Mitsubishi bought about 363 thousand m2 of
land in Marunouchi and Kanda districts at the
request of the government.
●1894
Mitsubishi Goshi Kaisha was established,
and Hisaya took office as the 3rd President.
●1885
Yanosuke took office as the 2nd
President on the death of Yataro.
Mitsubishi Ichigokan
An Unusually Insightful and
Judicious Leader
Yanosuke Iwasaki The Second President of Mitsubishi
A transition of power and
leadership
“I am here to announce that I will take over
leadership of Mitsubishi and do my best
to expand our shipping business. I will
strive to fulfill the long-cherished desire of
my deceased brother with his same
indomitable spirit.” With these words,
Yanosuke Iwasaki, the younger brother of
the founder Yataro Iwasaki, became
The Takashima Coal Mine
8
Mitsubishi Profile
major part in one of these expansions,
construction of a brick barracks at Azabu
to maintain an instrumental role in the
namely the purchase of the Takashima
by selling the land lots at Marunouchi—
management of the Company. At this time
Coal Mine, in 1881. The previous owner,
an area of about 413,000 m2. When call-
in Mitsubishi’s history, Yanosuke was 42
Shojiro Goto, had acquired the mine from
ing for bids among the predominant
years old, and Hisaya only 28.
the Japanese government, and owing to
zaibatsu of the time, tender prices were
Yanosuke went on to become Gover-
poor management and a lack of expertise
found to be far smaller than anticipated
nor of The Bank of Japan three years after
in the mining business, ran the company
by the government.
retiring from Mitsubishi, an appointment
into disarray. Yanosuke Iwasaki persuaded
Therefore, in order for the government
he received from then Prime Minister
Yataro to purchase the mine through his
to rebuild its military installations, then
Masayoshi Matsukata. In 1896, as the
comprehensive assessment of its esti-
Finance Minister Masayoshi Matsukata,
Governor, he established the gold stan-
mated reserves and business potential.
facing insufficient government funding for
dard system and a collaborative frame-
Mitsubishi’s second president in 1885.
role as the administrative leader and
Under new management, the mine later
the effort, asked Yanosuke to purchase the
work with Yokohama Shokin Bank, Ltd.,
Sixteen years junior to his brother,
became the driving force of a new and
emerged as a profitable enterprise, as new
property. The young Iwasaki was inspired
one of the predecessors of today’s The
Yanosuke previously spent a brief period
prosperous Japanese company.
mining technology was introduced.
by his youthful memory of Manhattan, and
Bank of Tokyo-Mitsubishi UFJ, Ltd.
considered that Japan would need an
Yanosuke established the Seikado
the mining business for his older brother,
office district like that of London to support
Bunko Library with books that he had
Yanosuke became Mitsubishi’s expert in
its modernization. With Mitsubishi’s pur-
received from his former teacher, scholar
actions throughout his lifetime. His inter-
A strategy for growth
encompassing the concept
of diversification
Through his early experiences researching
mining, later acquiring mines for the com-
chase of Marunouchi, yet another era for
Yasutsugu Shigeno. Yanosuke was an
national education, however, was cut
One of the achievements for which
pany in Chikuho and Karatsu as well as in
the growing company had begun.
avid collector of Oriental art and cultural
short by his father’s untimely death in
founder Yataro Iwasaki deserves credit is
Nagasaki.
his efforts to diversify the company’s hold-
Japan. Later he stepped into his brother’s
ings early in its history. Yanosuke played a
Honoring duty and
integrity for the future of
Mitsubishi
artifacts during the Meiji Restoration, a
1873 and the young Iwasaki returned to
With the enactment of Japan’s commer-
preserving the heritage of his culture and
During Japan’s Edo period, some clans
cial code in 1893, Mitsubishi was restruc-
country. During his lifetime, Koyata Iwasaki
had mansions in the Marunouchi district
tured and renamed Mitsubishi Goshi
also continued to collect items for the
adjacent to Edo Castle. Following the
Kaisha. Fulfilling a promise to his older
library, continuing his father’s legacy.
Meiji Restoration, the area became gov-
brother, Mitsubishi’s founder, Yanosuke
ernment property and was transformed
then stepped down as president in favor
into military barracks, drill fields and
of his nephew, Hisaya, turning over the
other military facilities for the Imperial
reigns of power and leadership to the next
Palace Guards.
generation. He continued to be involved
in the U.S., where he studied and learned
about American culture and customs, an
experience that would influence his
“Mitsubishigahara” Marunouchi circa 1890
Mitsubishi’s acquisition of
property in Tokyo’s
Marunouchi district
Later, the government attempted to
in the activities of the growing company in
raise money for the army’s planned
a supervisory role and continued
time when things Oriental were being cast
aside for anything Western. A true visionary, Yanosuke understood the value in
Mitsubishi Profile
9
●1894
Mitsubishi Goshi Kaisha was
established, and Hisaya took
office as the 3rd President.
●1902
The Anglo-Japanese Alliance
was concluded.
●1895
The Nagasaki Shipyard received an order to build a
passenger-cargo vessel of the 6,000-ton class for
the first time. Banking Division was established in
Mitsubishi Goshi Kaisha.
1890
●1905
Kobe Shipyard was founded.
1900
●1894
Mitsubishi Ichigokan was
completed in Marunouchi.
●1904
The Russo-Japanese War broke out.
●1899
The Iwasaki family acquired Koiwai Farm.
●1914
WWI broke out.
●1916
Hisaya resigned, and Koyata took
office as the 4th President.
Creating a modern
corporate management
system
First Step toward Modern
Management
In 1908, Hisaya introduced into Mitsubishi
a management system very much like
today’s system of operational divisions.
The aim of this change was to give each
division responsibilities and cost consciousness in order to further expand the
Hisaya Iwasaki The Third President of Mitsubishi
company’s businesses. Mitsubishi Goshi
Kaisha consisted of the divisions of
banking, shipbuilding, administration,
TENYO MARU, a 13,402-ton liner, completed in 1908.
mining, sales, and real estate, to which
Transforming Mitsubishi
into a modern enterprise
In his early days, in 1886, Hisaya Iwasaki
studied at the Wharton School of the University of Pennsylvania in the U.S. This was
the period when great capitalists such as
Rockefeller and Carnegie began to emerge
in America to build businesses in oil, coal
Conder, and surrounded it with gardens
and steel. Hisaya experienced this big
reminiscent of the American countryside.
wave of American business firsthand.
Today, the Tokyo Metropolitan Govern-
His exposure to American education
ment owns the house and gardens, so the
had a profound impact on the young
public may now enjoy this splendid repre-
Iwasaki’s life and upon his return to Japan,
sentation of Western-style living.
he built himself a Western-style house
Transforming Mitsubishi
into a leading shipbuilder
designed by a British architect, Josiah
In 1895, Nippon Yusen built one of six
passenger-cargo vessels (6,000-ton class)
for a European line at the Nagasaki Shipyard. Until this time, only British companies
had the shipbuilding capabilities to construct this size of commercial ship. The
ship, Hitachi Maru, was the first of its size
for the Nagasaki shipyard, and the experience gained from the construction of this
vessel set the stage for a growing number
of orders for larger vessels, including an
order for the 13,000-ton class luxury liner,
TENYO MARU, and many subsequent
Hisaya’s former residence (currently Kyu-Iwasaki-tei Teien)
10
Mitsubishi Profile
orders for large-scale battleships.
direct management authority was then
transferred. This move was a decisive
and strategic gain for the growing Mitsubishi, increasing both efficiency and
profitability as a corporate enterprise.
The introduction of the division system
was the first step in Mitsubishi’s transformation from a one-man rule company to
a truly modern corporate structure,
selfless decision, and having passed over
established The Toyo Bunko Foundation,
the reins of power, Hisaya refrained from
which has become one of the world’s
interfering in the business of Mitsubishi
leading centers for Asian studies. Cur-
Goshi Kaisha.
rently, the facility houses about 950 thou-
Following his retirement, Hisaya
Iwasaki worked to contribute to society,
sand documents and many artifacts for
public viewing.
while also being involved in agriculture and
cattle raising at Koiwai Farm. In 1924, he
equipped to meet the challenges of a
rapidly changing and increasingly international business environment.
Major contributions even
in retirement
In 1916, while Japan prospered during the
war boom of WWI, Hisaya stepped down
as president and entrusted the reigns of
leadership to his cousin Koyata Iwasaki.
At the time Hisaya was 50 years old, and
he felt he could confidently entrust the
business to his successor at such a time
of robust economic growth. It was a truly
George Ernest Morrison and the ex libris of his collection. After being
purchased by Hisaya Iwasaki, the Morrison Collection provided the
foundation for the Toyo Bunko.
Mitsubishi Profile
11
●1920
Japan joined the League
of Nations.
1910
●1923
Original Marunouchi Building
was completed.
1930
1920
●1916
Hisaya resigned, and Koyata
took office as the 4th
President.
●1937
Mitsubishi Goshi Kaisha was reorganized into
a joint-stock company under the new name
Kabushiki Kaisha Mitsubishi Sha.
●1924
Hisaya established The Toyo
Bunko Foundation.
●1940
Koyata established
Seikado.
●1941
The outbreak of the Pacific War.
●1943
Mitsubishi Sha was renamed
Kabushiki Kaisha Mitsubishi
Honsha.
1940
●1945
The end of WWII.
●1946
Mitsubishi Honsha
disbanded.
●1933
Japan walked out of the
League of Nations.
Another Visionary Businessperson
Leads Mitsubishi
Koyata Iwasaki The Fourth President of Mitsubishi
A voice of reason during a
time of despair
On October 20, 1945, only two months
following Japan’s surrender to the Allied
Forces, Japan was dealt a further economic hardship when the Allied Command ordered the disbanding of all
zaibatsu, the nation’s industrial and financial business conglomerates. The order
was given because Allied Command
considered the military and the zaibatsu to
have been ultimately responsible for driv-
The early 1920s, saw construction of
the concepts and phrases had entered
responsible action and assistance to
American-style office buildings for Japan’s
our modern lexicon. His idea of ‘corporate
manufacturers, producers and the public
growing business center. These were
responsibility to society’ guiding individual
Mitsubishi served. Placing an unwavering
large and could be built relatively quickly.
and corporate actions, known in Japa-
commitment to quality and fair business
It was at this time that Koyata made the
nese as shoki hoko, would define one of
practices, Mitsubishi survived and pros-
decision to build Mitsubishi’s new build-
tionalism and social justice he engen-
Mitsubishi’s guiding principles for
pered and in many instances took a lead-
ing. The former Marunouchi Building was
able business practices.
dered, at the outbreak of hostilities
decades to come. It is important to
ership role in moving the industries in
a landmark structure, which opened on
A champion of
internationalism and
goodwill in a time of
discord
following Japan’s attack on Pearl Harbor,
remember, that during the turbulent
which it conducted business to profitability
February 20, 1923, after being built in
Koyata Iwasaki stated at a speech given
years of WWII and in its aftermath, the
and sustainable prosperity. In 1934, his
record time using new construction tech-
to the assembled top executives of each
Mitsubishi Group continued its respon-
ideas became officially accepted as
nology by a leading New York construc-
Mitsubishi Group company: “Now our
sible stewardship of its associated Brit-
Mitsubishi’s guiding principles, and these
tion firm. Less than a year after its
nation has come to a decision. And
ish and American business interests in
principles would lead the company to
completion, the Marunouchi Building
Koyata Iwasaki was the most international
although my personal ideas regarding
Japan and the region, in this spirit of
greatness in the 20th century and beyond.
survived the Great Kanto Earthquake of
spirited Japanese businessperson of his
diplomacy depart from those of the nation,
Koyata’s dedication to internationalism.
we are all now called upon to follow the
tion at the famed University of Cambridge
order of our Emperor, to be united and to
Tokyo’s Marunouchi district, which had
part of a massive redevelopment project
developed as a focal area for the army of
for the district. In 2002, a new Marunouchi
of turmoil and growing call to arms,
A proponent of
cooperation and
accountability in a time of
transition
Development of the
Marunouchi district
1923, which devastated most of the
era, having completed his formal educa-
the new government following the Meiji
Building was completed. It has become a
Koyata urged the nation to look beyond
Koyata’s strong conviction that integrity
Restoration, gradually transformed itself
familiar landmark in the Marunouchi area.
the current state of affairs, and envision a
and fairness were the foundation of all
into the nation’s nerve center for busi-
time when internationalism and peace
business remains a cornerstone of
ness activities. In 1894, the first modern
would prevail. A forward thinker, Koyata
M itsubishi’s management philosophy

office building was constructed in the
Iwasaki spoke of the day when people
today. Amidst the economic depression of
British red-brick architectural style and
everywhere could work towards the global
the early 20th century, Mitsubishi’s opera-
in 1914, the country’s landmark Tokyo
good. He was a man dedicated to the
tions were guided by a set of core princi-
Station was opened as the transportation
ideas of international understanding and
ples. With the nation hard hit by the difficult
hub of the nation.
endeavor with all our strength for the
nation.” A small voice of reason in a time
work of many went unrecognized at the
time of the dissolution of these zaibatsu
corporations, and among them, the work
of Yataro Iwasaki and the Mitsubishi
Group. Koyata Iwasaki, the founder’s
nephew and fourth president of Mitsubishi,
Mitsubishi Profile
economic times, Koyata advocated
in England. Despite the spirit of interna-
totalitarian monopolistic power. The hard
12
the globalization of markets, long before
and that it had never engaged in dishonor-
break up economic forces that exercised
publicly that Mitsubishi was a friend to
The original Marunouchi Building
many business partners around the world
ing Japan into the war, and sought to
was an outspoken advocate, asserting
Seizure of zaibatsu families’ assets
(“Showa History Vol. 13: Ruin and Lack”
published by Mainichi Newspaper Company.)
Studying abroad at the University of Cambridge
Tokyo skyline. The famous icon facing
Tokyo Station was demolished in 1999 as
Mitsubishi Profile
13
The Regeneration of the Mitsubishi Group
Rebuilding Japan—
a Transitional Process for Mitsubishi
The YS-11, an airliner built by a consortium that included MHI
●1949
Fixed exchange rate
introduced: $1=¥360
●1951
San Francisco Peace Treaty
●1962
Kenichi Horie made first solo sailing
voyage across the Pacific.
1950
1960
●1953
NHK starting TV broadcasts
●1956
Japan leads the world for number of
new ships built.
●1964
MHI reunited.
Mitsubishi Public Affairs Committee was founded.
1970
●1964
Japan’s first bullet train line commences operations.
The Tokyo Olympics are held.
●1970
Centennial of Mitsubishi’s founding.
●1954
Mitsubishi Corporation
reestablished.
The signing of the San Francisco Peace Treaty in 1951
©JIJI PRESS
era of meteorological observation systems throughout the country. Mitsubishi
using zaibatsu trade names and logos.
Electric Corporation received the order to
With this change, former Mitsubishi group
build the facility.
companies reclaimed the Mitsubishi name
On August 15, 1964, construction of
and in 1954, the once-divided Mitsubishi
the radar towers atop Mt. Fuji was com-
Corporation conducted a series of merg-
pleted, establishing Japan’s first early
ers leading to an overall merger into a
warning weather system. The range of the
single entity.
new facility was 800 kilometers. Over the
Forces in Japan demanded the dissolu-
A new era in weather
forecasting
following 35 years, the Mt. Fuji radar
tion of the zaibatsu that had held so much
The typhoon Isewan struck the Kii
In March 2000, the Mt. Fuji radar
power in the prewar period ending nearly
Peninsula on September 26, 1959, killing
system was recognized as an important
70 years of Mitsubishi’s leadership by four
more than 5,000 and injuring about
milestone by the Institute of Electrical and
generations of the Iwasaki family. In
40,000 Japanese citizens, and becoming
Electronics Engineers, Inc. (IEEE) of the
September 1946 the company disbanded
Japan’s most destructive typhoon in more
U.S., as a noteworthy example in the
its headquarters, and its network of affili-
than a century. In the wake of this natural
history of electrical engineering for
ates and subsidiaries were all re-launched
disaster, the Japanese government
weather radar operation.
as independent companies. Moreover,
moved to build weather warning facilities,
GHQ orders strictly prohibited the use of
establishing a weather observatory on the
the Mitsubishi trade name or logo.
summit of Mt. Fuji and ushering in a new
Reestablishing a corporate
identity
Following the end of WWII, the Allied
14
The San Francisco Peace Accord in
1952 brought about a repeal of the ban on
Mitsubishi Profile
system continued to play a key role in
Japan’s early-warning weather systems.
The Tokyo Olympics and
the regeneration of the
Mitsubishi Group
A new era in corporate
responsibility and
leadership
In 1964, Mitsubishi Heavy Industries, Ltd.
During the 1960s, enterprises closely
(MHI) completed the reunification of its
aligned with Mitsubishi began to
former companies. In September of the
strengthen their mutual links. At the same
same year, the Mitsubishi Public Affairs
time, Mitsubishi took a positive approach
Committee was established with the mis-
to foreign capital. For example, Mitsubishi
sion of increasing the Mitsubishi Group’s
Petrochemical Co., Ltd. (currently
involvement in community activities and
M itsubishi Chemical Corporation) was
its contribution to society overall. The
established in 1956 as a joint venture with
move was also designed to increase
Royal Dutch Shell Group; Mitsubishi
public recognition for the Mitsubishi
Reynolds Aluminum Co., Ltd. (currently
brand and to enhance communication
Mitsubishi Aluminum Co., Ltd.) and
among the growing numbers of compa-
Mitsubishi Precision Co., Ltd. were formed
nies comprising the Mitsubishi Group. In
in 1962 as joint ventures with Reynolds
October of the same year, the opening of
International, Inc. and General Precision
the Tokyo Olympics realized Japan’s
Inc., respectively.
long-held desire and allowed the country
The rapid growth of the Japanese
to demonstrate to the whole world that it
economy during the 1950s and 60s was
had truly recovered.
due in no small part to the astounding
growth in the manufacture of consumer
products and the expansion of consumer
markets. Following close behind was
growth in credit card businesses, of which
Mitsubishi was a key player, organizing
Diamond Credit Co., Ltd. (currently
Mitsubishi UFJ NICOS Co., Ltd.) in 1967.
Radar facilities constructed on Mt. Fuji in 1964 ©JIJI PRESS
Mitsubishi Profile
15
The Mitsubishi Group
embarks on a new journey
to the frontiers of space
In March 2008, Japan’s first manned
experiment space station, the Japanese
Focusing on the Long-Term Future—
a Century of Solidarity for Mitsubishi
●1970
The Mitsubishi Miraikan
(Mitsubishi Pavilion) was
opened at the Japan World
Exposition in Osaka.
1970
●1973
Oil shock
nected to the International Space Station
●1991
Collapse of Japan’s economic bubble
●1985
First ever win for a Mitsubishi
brand car at the Dakar Rally
1980
●1995
The Great Hanshin-Awaji Earthquake
1990
Experiment Module “KIBO,” was con-
Mitsubishi Ichigokan Museum
●2007
Shin-Marunouchi Building
rebuilt.
●2002
Marunouchi Building
rebuilt.
2000
●1985
The Plaza Agreement
(yen appreciates against the dollar)
●2010
Provided financial support for the
Japan Pavilion at the Expo 2010
Shanghai China.
2010
●2008
●2011
Kibo was attached to the
The Great East Japan
International Space Station. Earthquake
Marunouchi Business District
(ISS) and in August that year the first
undergone an enormous transformation in
experiment was carried out, thereby begin-
recent years to become Japan’s premier
ning a new era of the full utilization of ISS.
business center. This phase of redevelop-
The H-II Transfer Vehicle “KOUNOTORI”
ment was started by Mitsubishi Estate in
(HTV), an unmanned space transporter,
1998, aiming to create an open and diver-
was developed in Japan to transport sup-
sified community. Reconstructed build-
plies to the station.
ings such as the Marunouchi Building,
The KOUNOTORI is an unmanned
completed in 2002, the Industry Club of
cargo transporter spacecraft designed to
Japan and Mitsubishi UFJ Trust and
transport up to 6 tons of food, experiment
Banking Building in 2003, Marunouchi MY
devices and other supplies to the ISS.
PLAZA and Oazo in 2004, the Tokyo
Under the leadership of the Japan
Building in 2005 and the Shin-Marunouchi
Aerospace Exploration Agency (JAXA),
Building and the Peninsula Tokyo, com-
Mitsubishi Heavy Industries, Ltd.,
pleted in 2007, comprise the First Stage,
Mitsubishi Electric Corporation, and other
the first ten years of the redevelopment
companies have played a central role in
project, giving the area vitality and bustle.
manufacturing the transporter.
The Second Stage of the redevelop-
Japanese technological expertise has
ment began in 2008 with a focus on
been highly applauded with respect to the
updating the overall functionality of the
transporter. The KOUNOTORI is the
area as a whole to extend and enhance its
world’s only cargo transporter spacecraft
neighborhood ambience.
that can deliver to the ISS large freight and
In 1970, the Mitsubishi Group commemo-
continued to maintain a high profile in
early 1990s, the Mitsubishi Group contin-
President Koyata in the years immediately
rated its centennial year in business, and
international business and has also par-
ued to serve customers and manage
following WWI, when Japan’s economy
The first project to reach completion
external space-station equipment that is
established the Mitsubishi Foundation in
ticipated in other international events,
assets following a careful and determined
had succumbed to a speculative boom
in the Second Stage was the Marunouchi
too large to pass through the docking port
1969. The Foundation is an active supporter
including the ’75 Okinawa International
approach to business. The strength
fueled by post-war recovery demand. The
Park Building and Mitsubishi Ichigokan,
where personnel can enter. This is made
of a wide range of academic research and
Ocean Expo, the Kobe Portopia ’81 Expo-
exhibited by Mitsubishi during the years of
president sent out a memo urging manag-
which opened as an art museum in April
possible by the transporter’s large hatch
social welfare programs. In 1970, the Group
sition, the ’85 International Exposition in
economic turmoil following this period,
ers to eschew harmful, empty business
2010. This new building resurrects and
and the unpressurized Logistics Carrier.
formed Mitsubishi Research Institute.
Tsukuba, the ’90 International Garden and
reflects its adherence to the basic corpo-
practices based on easy speculation and
stands on the same site as the original
The Mitsubishi Group’s businesses
During the occupation of Japan by the
Greenery Exposition in Osaka, and the
rate philosophy and management princi-
short-term profit, and to foster instead a
Mitsubishi Ichigokan, which was com-
originated with marine transportation.
Allied Forces following the end of WWII,
2005 World Exposition in Aichi. Its partici-
ples that have guided Mitsubishi’s
culture based on a slow but steady
pleted in 1894 and dismantled in 1968.
Through its pursuit of “Global Under-
the zaibatsu were disbanded and their
pation in these international gatherings is
business affairs for more than a century.
approach to management.
trade names abolished. In the decades of
a reflection of the Group’s determination
This steadfast approach to business
reconstruction following this difficult
to contribute to the promotion of interna-
was woven into Mitsubishi’s DNA by
period in Japanese modern history,
tional understanding and a better world
Mitsubishi was able to maintain a corpo-
for all people.
from the folly of over-investment in the
The Otemachi Park Building, currently
heat of the boom, allowing the Group to
under development, is an initiative to
‘Slow’ but ‘Steady’ are
trademark characteristics
of Mitsubishi’s long-term
approach to business
growth and contribution
to society
emerge from the bubble’s collapse rela-
strengthen the functions of a global busi-
tively unscathed with only a few bad debts
ness base. The project will introduce
on its books.
serviced apartments as the first residential
The birth of a world-class
business district
Financial City Grand Cube will incorporate
at the Japan World Exposition in Osaka in
Throughout the years of Japan’s ‘bubble
Tokyo’s Marunouchi district, Otemachi
Hoshino Resort Group.
1970. In subsequent years, Mitsubishi has
economy,’ primarily during the 1980s and
and Yurakucho, the area between Tokyo
rate identity despite its organizational dissolution through the nurturing of its original
management principles, embodied in the
themes of Corporate Responsibility to
Society, Integrity and Fairness, and Global
Understanding through Business.
To mark its centennial anniversary, the
Group sponsored the Mitsubishi Pavilion
Mitsubishi Profile
This was followed by the completion
standing through Business” (“Ritsugyo
Over half a century later during
of the Marunouchi Eiraku Building in
Boeki”) one of the Group’s Three Princi-
Japan’s bubble economy, Mitsubishi’s
January 2012, and Otemachi Financial
ples, the Mitsubishi Group is now moving
core philosophy protected the company
City in October of the same year.
beyond the confines of the Earth to the
frontiers of space.
function in Otemachi, and the Otemachi
Japan World Exposition in Osaka
16
Station and the Imperial Palace, have
the Hoshinoya luxury brand of accommodation facilities operated by the
KOUNOTORI (HTV)
©JAXA
Mitsubishi Profile
17
The Mitsubishi Group’s New Energy Initiatives
For a Clean and Prosperous Future
for Planet Earth
Today, striving to elevate people’s living
standards goes hand in hand with considering global energy issues. The creation of
new sources of clean renewable energy
has become an urgent priority for all of
humankind—one that must be pursued
across the boundaries of individual corporations and nations.
Mitsubishi Group companies have continuously taken innovative steps in their
respective fields in the quest to create clean,
renewable energy, and to help achieve a
sustainable society.
Offshore wind power
generation initiatives
As a comprehensive machinery manufacturer, Mitsubishi Heavy Industries (MHI)
has been working to reduce CO2 emissions and boost the efficiency of thermal
power generation through its cutting-edge
Gas Turbine Combined Cycle (GTCC)
power generation centered on the world’s
most efficient gas turbines. MHI is also
promoting research and development
(R&D) of all manner of clean energy technologies, including wind power as well as
hydroelectric, geothermal and biomass
power generation.
Among these clean energy technologies, wind power has been attracting
worldwide attention in recent years as a
promising renewable energy source.
Notably, offshore wind turbines are considered able to harness stronger wind
power and supply even greater electric
power than their counterparts onshore.
Accordingly, offshore wind power is tipped
to become a major source of renewable
energy for future generations.
With support from the U.K. government, MHI became the first Japanese
manufacturer to take part in an offshore
wind turbine development project. MHI
has established a joint venture to conduct dedicated offshore wind turbine
business with Vestas Wind Systems A/S,
a major Danish wind turbine company.
MHI is developing and putting on the
market the latest offshore wind turbine
models which have the world’s largest
output base (8 MW).
Initiatives to develop
clean, renewable
geothermal power
Geothermal energy harbors vast potential
as a purely domestic source of energy for
Japan, which is a volcanically active
Mitsubishi Electric’s standard
commercial satellite
●1999
Tokio Marine & Nichido Fire Insurance
Co., Ltd. launches the Mangrove
Afforestation Project in Southeast Asia.
Fixed-bottom large offshore wind turbines in the U.K.
1990
●1990
Mitsubishi Corporation commences the Tropical
Forest Regeneration Experimental Project on
Malaysia’s Borneo Island.
1995
2000
●1997
Mitsubishi Electric presented with the “Best of the Best”
Award by the U.S. Environmental Protection Agency
for its outstanding contributions to environmental preservation.
country. As an energy source, it is a virtually inexhaustible.
Mitsubishi Materials Corporation is
working to develop the geothermal
power generation business, which has
come under the spotlight as a clean,
renewable source of energy. The company is already engaged in operations at
two facilities in Japan’s Akita Prefecture,
namely power generation at the Onuma
Geothermal Power Plant and steam
supply in joint operation with Mitsubishi
Gas Chemical at the Sumikawa Geothermal Power Plant. In April 2010,
Mitsubishi Materials also joined with
J-POWER and Mitsubishi Gas Chemical
to establish Yuzawa Geothermal Power.
In May 2015, the new company started
construction work on the Wasabizawa
Geothermal Power Plant. (Operations
are scheduled to begin in 2019.) The
partners will now extend their study and
survey activities further afield into other
areas.
A sustainable source of
clean energy obtained by
converting sunlight into
electricity
The sun supplies an immense amount of
solar energy to the Earth. In fact, the
amount of solar energy received by the
planet in one hour is comparable to the
total energy used all over the world in one
year. The amount of usable solar energy
on the surface of the Earth is estimated to
be roughly 50 times greater than the
world’s annual total energy consumption.
Solar photovoltaic (PV) systems utilize
this energy from the sun. When generating
energy, solar PV systems do not produce
emissions such as CO2, SOx and NOx,
which cause environmental problems like
global warming and acid rain. Because
these systems convert the inexhaustible
power of the sun into electricity, they represent a sustainable power generation
system for the future.
Mitsubishi Electric Corporation has
been a top manufacturer in the field of
space technology ever since it pioneered
the development of Japan’s first operational satellite, which was successfully
launched in 1976. Over the years, the
company has proven the high reliability of
its solar cell technology for satellites in the
demanding space environment. Mitsubishi
Electric is fully leveraging the advanced
technologies developed through these
activities in ground-based systems, including residential systems as well as various
public and industrial systems in Japan and
many other countries around the world.
Mitsubishi Chemical Corporation is
utilizing organic synthesis technologies to
conduct trial testing for practical application of “thin-film photovoltaics.” These
next-generation solar cells are thin, light
sheets, enabling them to be used in wideranging applications. Organic solar cells
will allow solar-cell applications to be
expanded from rooftops to cars, building
materials, and various other areas.
Mitsubishi Plastics, Inc. is commercializing and supplying solar cells integrated with building materials together
with Mitsubishi Chemical. These solar
batteries can be used widely, including on
the wall of buildings as exterior building
materials.
In other fields, Nippon Yusen Kabushiki
Kaisha (NYK Line) has collaborated with
JX Energy Corporation on the development of a ship that is partially powered by
solar energy. Construction of the 60,213
ton-car carrier, named “Auriga Leader,”
was completed in December 2008. A
demonstration trial of the solar PV system
conducted over a two-year period demonstrated the system’s capacity to withstand salt water, wind pressure and
vibrations while at sea. The integration of
the solar PV system with the ship’s electrical system was also verified. In order to
enhance the environmental performance
of this eco-friendly ship. Further efforts
have also been made to enhance this
eco-friendly ship. In June 2011, the ship
was fitted with a hybrid power supply
system developed jointly by Kawasaki
Heavy Industries, Ltd. and ClassNK
(NIPPON KAIJI KYOKAI) and a demonstration trial of the power supply stabilization was carried out.
Meanwhile, Mitsubishi Corporation is
engaged in a mega solar project that aims
to promote the widespread use of renewable energy, while a joint venture between
Mitsubishi Materials and Mitsubishi UFJ
Lease & Finance Company Limited is
engaged in a solar photovoltaic power
generation business that are progressively
starting operations. In addition, Asahi
Glass Co., Ltd. is working hard to introduce
renewable energy. One example is solar
eoflex™, a chemibattery panels using L
cally strengthened glass that helps to
reduce the weight of solar battery panels.
Additionally, Mitsubishi Rayon Co.,
Ltd. supplies rolled carbon paper developed using carbon fiber and composite
material technologies for use as gas diffusion layers in fuel cells.
Fuel cells are expected to be deployed
in a host of applications in homes, cars
and elsewhere as a source of clean
energy; they emit only water as they generate power through a chemical reaction
between hydrogen and oxygen.
Optimal mix of energy
Fossil fuels, renewable energy and other
sources of energy must be optimally combined to mitigate global warming. To this
end, JX Energy Corporation is developing
infrastructure to supply hydrogen to fuel
cell powered vehicles which are expected
to be popularized in the future. Utilizing
knowledge acquired through field testing
of hydrogen refueling stations, especially
testing of those integrated with gas stations since 2013, we have been working
to equip 40 commercial hydrogen refueling stations.
●2005
Kyoto Protocol enters into force.
2005
●2005
Mitsubishi Corporation launches the
Global Coral Reef Preservation Project in
partnership with universities, NGOs and
other organizations.
The NYK Line’s car carrier, the Auriga Leader
18
Mitsubishi Profile
Mitsubishi Profile
19
In other efforts, MHI is working to realize an innovative, triple-combined cycle
electricity generation system that incorporates both solid-oxide fuel cell (SOFC) and
GTCC technologies. In this system, the
waste heat generated from the SOFCs
and gas turbine generation will be used in
a third stage to drive a steam turbine. The
new technology promises outstanding
efficiency in recovering energy from fuel.
Development of ecofriendly electric vehicles
and plug-in hybrid
electric vehicles
Mitsubishi Motors Corporation (MMC) has
pursued research and development of
electric vehicles (EVs) for more than 45
years. In July 2009, MMC launched the
world’s first mass-produced EV, the
i-MiEV. At present, MMC is selling three
types of EV, including the MINICAB-MiEV
commercial vehicle, as it continues its
efforts to make EVs a more familiar presence in people’s lives.
In January 2013, MMC launched the
Outlander PHEV, an SUV equipped with a
proprietary Plug-in Hybrid EV System. This
vehicle can travel approximately 60 km
using only electric power on a single charge
of its large-capacity battery, making it possible to complete most daily activities without generating any exhaust gas emissions.
The Outlander PHEV is also notable
for being able to charge even while on the
move when the battery level drops below
a certain level thanks to electric power
generated by the engine. The vehicle
thus overcomes issues related to the
distance to empty and charging infrastructure with EVs.
At Mitsubishi Fuso Truck and Bus
Corporation, engineers have already
achieved the world’s highest fuel efficiency
with the company’s clean diesel vehicles,
and are now working on another leap
forward. They are making steady progress
through various demonstration trials
towards a working concept model called
the Canter E-Cell, a light truck version of
an EV that realizes zero-emissions of
exhaust gas or CO2 when running.
Moreover, MHI is also pursuing a
worldwide project to develop and trial
electric buses fitted with innovative storage batteries and recharging technology
for those batteries.
Going forward, the Mitsubishi Group
will continue working to create vehicles
that are friendly to the environment.
Smart grid initiatives
aimed at realizing a lowcarbon society
Smart grids are next-generation power
grids that are attracting considerable
public interest. Smart grid systems can
stabilize and optimize the supply-demand
balance of electricity, including renewable
energy sources such as solar power,
which is susceptible to the impact of
weather conditions. Smart grids will connect the supply side of electricity, including
power generation, conversion and distribution, with consumption at buildings,
factories and homes over a network.
Leveraging its rich accumulation of
technological capabilities, Mitsubishi
Electric has been proceeding with a demonstration trial of a smart grid. Using the
company’s own facilities, Mitsubishi
Electric has set up one of Japan’s largest
demonstration trial facilities in Amagasaki
City in Hyogo Prefecture.
Looking ahead, Mitsubishi Electric will
continue to strengthen its efforts to realize
a low-carbon future.
For example, using the knowledge
gained to date, Mitsubishi Electric has
received orders from Chugoku Electric
Hydrogen refueling station
Canter E-Cell light truck EV
The Outlander PHEV SUV is equipped with a proprietary Plug-in Hybrid EV System.
Power Co., Inc. and Kyushu Electric
Power Co., Inc. to install systems for demonstration trials of rechargeable batteries
control in remote islands, and from Kyushu
Electric Power to build a large-capacity
rechargeable batteries system, which
boasts the world’s largest-capacity
rechargeable batteries (equivalent to the
electricity usage in one day of about
30,000 ordinary households).
Meanwhile, in the residential related
field, Mitsubishi Electric opened (in May
2013) its Mitsubishi ENEDIA House Ofuna,
which reflects the company’s thinking as
regards proposing living in “smart houses,”
and went on to develop the new products
of a power conditioner for EVs in July
2014 and Mitsubishi HEMS (a Home
Energy Management System) in the following October. In June 2015, the company opened Mitsubishi ENEDIA House
Kyoto, a hands-on-experience type of
smart house fitted out with these and
many other Mitsubishi Electric appliances
and facilities.
While accelerating the creation of
housing that caters to the demand for
ZEHs (net zero energy houses), Mitsubishi
Electric will focus on making upgraded
proposals for lifestyles that are energysaving, convenient and comfortable. Measures to realize these lifestyles include
advanced energy management in the
creation, storage and saving of energy,
and operation that is linked with such systems as ventilation and air conditioning.
Moreover, MHI, Mitsubishi Corporation, MMC, and Mitsubishi Electric all
participated in the KEIHANNA Eco-City
Next-Generation Energy and Social
Systems Demonstration Project, one of
four smart grid demonstration initiatives
The “Mitsubishi HEMS” controls household appliances and
home facilities.
that was implemented around Japan with
the support of Japan’s Ministry of Economy, Trade and Industry. As part of these
efforts, from 2012 until March 2013, MMC,
M itsubishi Electric and Mitsubishi

C orporation conducted demonstration
trials at M-tech Labo, an experimental
testing facility for smart grids that utilizes
rechargeable batteries in EVs to level electricity demand from factories. Going forward, the three companies will use the
knowledge gained from these demonstration trials to help realize a sustainable
society by verifying technologies for
achieving a safe and secure low-carbon
society and applying these technologies to
its products and solutions.
Proposals for sustainable
new town development
In recent years, demonstration trials of
smart cities have begun around the world.
Smart cities are next-generation urban
environments fitted with social infrastructure that has a low environmental impact.
There is a need to develop new, sustainable approaches for urban development to ensure sustained improvement in
the quality of life of city dwellers. Smart
cities must also ensure that their activities
do not jeopardize the sustainability of surrounding regions.
Since April 1, 2014, Mitsubishi Estate
Co., Ltd. has been using renewable
energy for about half of the contracted
power used in the Shin-Marunouchi
Building. The renewable energy is sourced
from a wood biomass power plant built in
Miyako City, Iwate Prefecture, as part of
support for the recovery from the Great
East Japan Earthquake, from biogas generation using food waste from buildings
Mitsubishi ENEDIA House Kyoto, a hands-on-experience
type of smart house.
2010
●2008
G8 Hokkaido Toyako Summit held in Japan.
20
Mitsubishi Profile
●2009
Mitsubishi Motors Corporation rolls out the i-MiEV
new-generation electric vehicle.
JX Energy Corporation, commences sales of the
residential-use fuel cell system ENE-FARM.
●2010
With support from the U.K. government, Mitsubishi Heavy Industries begins
taking part in an offshore wind turbine development project.
arunouchi area,
and other sources in the M
including the Marunouchi Building, and
from a solar photovoltaic power generation plant established by Mitsubishi Estate
at the Chiba Research Park. In addition
to reducing the burden on the environment, Mitsubishi Estate is also making
related efforts as supporting disaster
recovery, building a recycling-oriented
society and contributed to enhance
energy use through local production
and consumption.
Mitsubishi Research Institute, Inc. is
supporting the deployment of renewable
energy systems in the local community.
In Takacho in Hyogo Prefecture, Mitsubishi Research Institute established the
Takacho Yasudakyo Mega Solar Power
Co., Ltd. through a joint investment with
other companies. They are building a
mega solar power plant with an output of
approximately 14.5 MW, aiming to start
operations in November 2016.
In this project, Mitsubishi Research
Institute will be in charge of overall operations in addition to supervising the entire
business and providing consultant
services.
In promoting this business, Mitsubishi
Research Institute has been conducting
wide-ranging dialogs with everyone in the
local community, including town officials.
Furthermore, MHI has been conducting smart community demonstration projects focused on combining carbon-free
energy and innovative transportation
systems around the world, both inside
and outside Japan, including in Spain.
The Mitsubishi Group tirelessly pursues cutting-edge technologies and has
developed a comprehensive array of technological capabilities over many years. By
maximizing these strengths, the
Mitsubishi Group will continue to
lead the world in proposing solutions that help to realize a sustainable society.
2015
●2011
Mitsubishi Electric commences
smart grid demonstration trials.
●2012
MMC, Mitsubishi Electric and Mitsubishi Corporation
commence demonstration testing of smart grid system
at experimental testing facility M-tech Labo
●2015
MHI established a joint venture to conduct dedicated
offshore wind turbine business with Vestas Wind
Systems A/S, a major Danish wind turbine company.
Mitsubishi Profile
21