Word: sumitomos
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...executive spends much time talking with officials of other companies, because the tradition of cooperative effort has resulted in a clubby Japanese-industry organization. The prewar zaibatsu cartels of Mitsui, Mitsubishi and Sumitomo were broken up under the U.S. occupation and supposedly have come together again only loosely. But presidents...
First developed in Europe, the cashomats are also in use at banks in Massachusetts, Pennsylvania and New York and at the Sumitomo Bank of California. The machines are obviously convenient for after-hours withdrawals. Even during banking hours, they save customers the time and trouble of lining up at tellers' counters...
...start-up headaches, banks now tend to join one of two major groups. The largest group is run by San Francisco's Bank of America. Its decade-old BankAmericard, available in 44 states, is interchangeable with Britain's Barclaycard, Canada's Chargex and Japan's Sumitomo. The other is Interbank Card Association, organized by eight banks in 1967 and now operating in 41 states; its card is also recognized in Europe. BankAmericard insists on certain credit standards, but Interbank lets members decide "creditworthiness" themselves...
...tinplate and foundry iron, in which they would otherwise clearly hold a monopolistic position. Significantly, Japan's four other major steel firms showed no real opposition to the merger. "The other steel companies have become strong enough to withstand any kind of competition," explained Hosai Hyuga, president of Sumitomo Metal Industries. Indeed, some competitors are counting on the trend to concentration in steel to help bring an end to the wild price fluctuations that have kept profits at a low 2% to 3% in recent years...
...their cards when traveling abroad. Interbank, with Banco Nacional de Mexico S.A. already in the fold, hopes soon to sign up banks in Japan and Western Europe as well. Not to be outdone, BankAmericard has gone into a joint credit-card venture with Barclays Bank Ltd. in Britain, Sumitomo Bank in Japan and four banks in Canada. BankAmericard is already interchangeable with Barclaycard and Sumitomo card, and next month the Canadian banks will join the system with their own Chargex card. So that merchants in the four countries will readily recognize them, all of the cards are being printed...