Word: mitsui
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...dropped out of sight during the occupation, none seemed to disappear more completely than the zaibatsu, the huge cartels controlled since the Meiji Era (1868-1912) by a handful of great Japanese families. To shatter the economic foundation of Japanese militarism, U.S. authorities split such prominent family combines-Mitsubishi, Mitsui and all the rest -into hundreds of small firms, and the Japanese government itself adopted Western-inspired antitrust laws. But zaibatsu, like many another Japanese tradition, proved tougher than reform. Last week the influence and power of the zaibatsu sprawled once more across the length and breadth of Japan, firmly...
...mergers, interlocking directorates and subtle cooperation, all the major groups are together again, forming giant corporations. The three biggest-Mitsui, Mitsubishi, Sumitomo-already account for well over 35% of Japan's total commercial and industrial business. Mitsubishi controls 22 major firms with 189 subsidiaries, produces 37% of Japan's ship tonnage, 57% of its sheet glass, 20% of its electrical machinery. Profits before taxes last year: $77.5 million, on sales of $2.3 billion, plus banking and insurance operations. Rival Mitsui, which reported $2.8 billion in sales and $85 million in profits in 1957, controls 24 major firms with...
...zaibatsu grow bigger almost by the week. Fortnight ago Mitsui Bank President Kiichiro Sato, 65, a nimble-witted financial expert who has spent his entire life working for the Mitsui cause, engineered the merger of two of the biggest offshoots of Mitsui's prewar trading division in a major deal that will form Japan's largest single trading company, with assets of some $500 million. "The occupation did not kill the zaibatsu," says Economics Professor Ryosei Kobayashi of Tokyo's Senshu University. "It just reorganized them...
...press had been reporting, or the banners that greeted them in Okinawa about "inhuman hellish activities of the Americans." As they boarded the plane that was to take them back to Tokyo, they were full of praise. "What the U.S. has done here is wonderful," said one. Said Takanaga Mitsui of the famed Mitsui industrial clan: "In some ways you Okinawans are better off than the Japanese." Added another Japanese Diet member: "We want the U.S. to stay in Okinawa as long as there is a Russian and Chinese threat...
...country's first English-language daily to be started by a Japanese, Motosada Zumoto, secretary to famed Prince Ito. It is still the only independent among the nation's four English-language dailies. The Japan Times before the war had powerful backing from the Mitsubishi and Mitsui trusts and government-linked financial houses. During the war, the Times was subsidized by the Japanese Foreign Office, which used the paper as a propaganda medium...