Word: sumitomos
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...year) since 1950. But shy, plump Lawyer Doi, an expert on the proper chanting of ancient Japanese ballads, speaks with an even more powerful voice as the de facto chief of the most flourishing of Japan's former zaibatsu (family trusts). Propelled into the presidency of the Sumitomo Chemical Co. in 1947 when Occupation purges eliminated all his seniors, Doi got around U.S. directives to split up the zaibatsu by organizing the White Water Society, a "social club" consisting of the heads of all former Sumitomo enterprises. Today, though the Sumitomo family is no longer in control, the Sumitomo...
...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...
...house of Mitsubishi, almost as great, lost 60 to 70% of all of its manufacturing capacity. Of all the zaibatsu, Sumitomo emerged from the war in the best shape, losing only about 30% of its manufacturing capacity...
Behind Tojo's changes was an old & bitter tug of war between the Army and Big Business for the control of heavy industry. Japan's great holding families, Mitsui, Mitsubishi, Sumitomo, did not oppose war; they opposed Army dominance of the economy. Under the Army's guidance, the new Ministry will now divert more yen, men and materials into the manufacture of weapons, at the expense of the little man's wardrobe and dinner bowl. Especial care, Tojo has indicated, will be lavished upon the aircraft industry...
These hopes were further aroused by the appointment as Finance Minister of Masatsune Ogura. onetime head of the House of Sumitomo, by the naming of three other businessmen to Cabinet posts. But the losers in the shuffle were the politicians, not the generals and admirals. Japan's new Cabinet was simply a little more streamlined for Fascism, a little more set for adventure...