Word: mitsubishis
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...zaibatsu, the huge and powerful prewar cartels that controlled practically all of Japanese industry, was the most ambitious antitrust action in history. The reemergence of the zaibatsu has been hardly less ambitious. With scarcely a murmur to mark it, the steady reconcentration of the three biggest zaibatsu -Mitsui, Mitsubishi and Sumitomo-has been going on quietly but steadily since 1952. The three now account for more than one-third of Japan's total industrial and commercial business-and they are not finished yet. Last week executives from three big prewar Mitsubishi heavy industry groups were at work on what...
Alarming Independence. Japanese businessmen wonder whether the Mitsubishi merger plans will prove catching. Until recently, most non-zaibatsu Japanese firms were doing so well that they felt little need to merge. Even some of the old zaibatsu showed a surprising independence from the old arrangements, particularly since their need for cash became so great that it could no longer be filled only by the zaibatsu banks they once were tied to. But Japan's new moves toward trade liberalization and its increasing need to export have caused a widespread change of heart. With the government's encouragement, many...
...passed by the Japanese government at the insistence of the U.S. Occupation authorities (and softened by later amendments) seems to be no obstacle; after all, it has not stopped the zaibatsu. Still, there are other problems, such as how the merging companies will juggle their foreign commitments. One Mitsubishi subsidiary, for example, has an agreement with Caterpillar Tractor to produce the same products turned out by another Mitsubishi firm...
Angling & Go. After working out such problems and receiving expected governmental approval, the three Mitsubishi firms plan to merge in May. The man most likely to head the new company is Shinzo Fujii, 70, the president of Shin Mitsubishi, the biggest and financially strongest of the three firms. An even-tempered but forceful businessman, Fujii took over the reins of his company once more after a hand-picked successor died, would probably stay on just long enough to get the new company going strong. Unlike the old zaibatsu, whose power extended deeply into politics and military policy, today...
Addicted to quality, Sony has done as much as any company to demolish the cheap and imitative image of Japanese goods, and is being widely imitated it self. An Italian manufacturer for a while sold .a Sony-looking transistor radio called "Somy." Back home, electrical companies from Mitsubishi to Matsu shita this year rushed out portable TV sets to compete with Sony's battery-powered, transistorized models, which come with 5-in. or 8-in. screens and weigh only 8 Ibs. General Electric also started thinking small, last month introduced an 11 -in. plug-in TV set listed...