Word: marubeni
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Dates: during 1970-1979
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...though, such houses as Mitsubishi, Mitsui and Marubeni have lost some of their heroic luster under a rain of charges that they have fueled Japanese inflation by engaging in widespread land and commodity speculation. A government study released this month accuses the six biggest trading houses of spending more than $2.5 billion in the past 18 months to buy up and hoard scarce supplies of land and such commodities as rice, wool, silk and soybeans. Prices of all these things have risen, and though the trading houses deny the charges, consumer tempers have gone up, too. Recently, carpenters who were...
...Japanese buying abroad has long turned Tokyo into the world's best market for second-rate works by first-rate artists. Japanese buy names, not quality." Even the patriarchal trading houses of Japan are in on the act -sometimes with depressing results, as when the huge Marubeni Corp. added art to its "general trading" department (along with cement, cameras and sundry goods) and got stuck with a dubious Botticelli at $500,000. "I still don't know anything about this business," admits the Marubeni staffer who was shifted from exporting Japanese toys to importing European...