Word: mitsui
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Dates: during 1970-1979
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...additions to existing facilities, will increase world capacity by less than 4% a year, while most experts agree that the market will grow at a rate of 5% for the foreseeable future. Only one firm, Alumax, a joint venture of AMAX, the large U.S. mining company. Japan's Mitsui & Co. and Nippon Steel Corp., is attempting to cash in on the shortage by investing in new plants in Oregon and South Carolina-a mighty $800 million gamble...
...products to import. So far, the Japanese visitors have spent $1 billion on raw materials plus another billion on finished goods ranging from home furnishings to machine tools to fur coats. To help the U.S. sell more abroad, Delegation Chief Yoshizo Ikeda, the chief of Japan's huge Mitsui trading firm, offered Washington the use of a Japanese ship, which he and other successful exporters use as a floating trade fair...
...tour the U.S., actively seeking, and signing orders for, more imports. Last week the mission fanned out from San Francisco to a score of cities to talk up a new liberalism in trade. In a flight of wish-it-were-true hyperbole, Delegation Chief Yoshizo Ikeda, president of Mitsui, the giant trading company, told a gathering in Atlanta that his country is "removing import quotas, slashing tariffs and streamlining import procedures in order to make Japan, this year, the least protected market of all the great trading powers, including...
Kearns admits that "I did mention" the stock to Mitsui & Co., a U.S. affiliate of a Japanese trading house, but adds rather lamely that "the trust sold it, I didn't. They could have refused the sale." In any case, Mitsui did buy, at $5 a share, 100,000 shares of Siam Kraft Paper Co., a Thailand concern that Kearns founded. At the time (1972), Proxmire estimates, the stock was worth no more than $1.75. While Kearns was head of the Ex-Im Bank, which makes low-cost loans to foreign firms so that they can buy American exports...
...teaching at Doshisha University in Kyoto, suggested that Japan's largest trading house might spare that amount to endow a chair at Harvard Law School, and Mitsubishi agreed. Not to be outdone, the rival Sumitomo group gave $2,000,000 to Yale in June; four months later, Mitsui promised $1,000,000 to M.I.T. (from which a Mitsui founder graduated...