Word: kogyo
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...competitors insist that it is not even a part of Japan's auto industry, and one Japanese automaker sneers that it is "in the toy business." Some toy. Hiroshima's thriving Toyo Kogyo Co. Ltd. outproduced all other Japanese automakers last year and had the industry's fattest profit margin on sales of $231,500,000. This month it turned out its millionth vehicle...
...paunchy, grey-haired Oriental President Lewis Henry, of Elmira, N. Y., sold his company to Nihon Kogyo Kabushiki Kaisha (Nippon Mining Co., Ltd.). The deal: $756,700 cash; two payments of $756,700 within 30 and 60 days respectively; $4,542,000 payable by Aug. 31, 1942; $1,362,500 payable by Aug. 31, 1943. All deferred payments were guaranteed by the Yokohama Specie Bank, Ltd., New York City, with interest at 4%. To President Henry-whose late client Jacob Sloat Fassett (onetime Congressman and Republican leader of New York's Senate) was a backer of Promoter Hunt -this...