Word: sumitomo
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...much against Philippine President Ferdinand Marcos, a bitter political rival, as against the Japanese. Marcos sees Japan as a source of sorely needed investment capital, last year issued an administrative order that enabled the 17 Japanese businesses, which include such well-known trading firms as Mitsui & Co. and Sumitomo Shoji Kaisha Ltd., to operate in the Philippines. The Japanese obtained government licenses and moved in quietly; most of them discreetly left corporate name plates off their office doors, instead put up signs reading simply "Welcome, walk...
...these are part of a merger fever that is running through the Japanese industrial establishment. Shozo Hotta, head of Osaka's big Sumitomo Bank, says: "There is no doubt that a full-scale reorganization of business is now in progress...
...series computers, including 55 NCR 590s bought by the Pentagon to travel around South Viet Nam in G.I. trucks keeping track of spare parts. NCR has also marketed $200 million worth of a secondgeneration computer known as the NCR 315, including one $16 million order from Japan's Sumitomo Bank, Ltd., which accounts for NCR's largest order...
Four dozen foreign banking branches and offices now do business from Washington state to the Virgin Islands, the great majority of them in New York and California. Osaka's Sumitomo Bank opened its sixth California branch last year, and the Bank of Tokyo of California recently started its eighth and ninth branches. In Manhattan, the international banking center, the British have opened four major branches, the Swiss three, the French and Israelis two each, and the Italians, Dutch, Lebanese and Pakistanis one apiece. Last month Brazil's Banco da Lavoura de Minas Gerais opened up in Manhattan...
...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 promises...