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Zaibatsu (財閥; ざいばつ lit. property?) is a Japanese term referring to industrial and financial business conglomerates in the Empire of Japan, whose influence and size allowed for control over significant parts of the Japanese economy from the Meiji periods until the end of the Pacific War. is a language spoken by over 130 million people in Japan and in Japanese emigrant communities A conglomerate is a large Company that consists of seemingly unrelated Business sections The Empire of Japan ( {{unicode|Kyūjitai}}: ja 大日本帝國 Shinjitai: ja 大日本帝国 pronounced Dai Nippon Teikoku The economy of Japan is the second largest economy in the world after the United States, at around US$4 The, or Meiji era, denotes the 45-year reign of the Meiji Emperor, running in the Gregorian calendar, from 23 October 1868 to 30 July The Pacific War was the part of World War II —and preceding conflicts—that took place in the Pacific Ocean, its islands and in East Asia, between

Marunouchi Headquarters for Mitsubishi zaibatsu, pre-1923
Marunouchi Headquarters for Mitsubishi zaibatsu, pre-1923

Contents

Terminology

Although zaibatsu existed from the 19th century, the term was not in common use until after World War I. The 19th century of the Common Era began on January 1, 1801 and ended on December 31, 1900, according to the Gregorian calendar World War I (abbreviated WWI; also known as the First World War, the Great War, and the War to End All By definition, the "zaibatsu" were large family-controlled vertical monopolies consisting of a holding company on top, with a wholly-owned banking subsidiary providing finance, and several industrial subsidiaries dominating specific sectors of a market, either solely, or through a number of sub-subsidiary companies. A family business is a business in which one or more members of one or more families have a significant ownership interest and significant commitments toward the business’ overall well-being In Economics, a monopoly (from Greek monos, alone or single + polein, to sell exists when a specific individual or enterprise has sufficient A holding company is a company that owns part all or a majority of other companies' outstanding Stock. A banker or bank is a Financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious"

While the term was used arbitrarily in the United States throughout the 1980s to refer to any large Japanese corporation, it is not used natively by Japanese speakers for anything other than historical discussions. The United States of America —commonly referred to as the A corporation is a separate legal entity usually used to conduct business is a language spoken by over 130 million people in Japan and in Japanese emigrant communities History is the study of the past particularly the written record Those who study history as a Profession are called Historians Etymology

Significance

The zaibatsu were the heart of economic and industrial activity within the Empire of Japan, and held great influence over Japanese national and foreign policies. The Rikken Seiyukai political party was regarded as an extension of the Mitsui group, which also had very strong connections with the Imperial Japanese Army. was one of the main political parties in pre-war Japan. It was also known simply as the ‘Seiyūkai’ A political party is a Political organization that seeks to attain and maintain political power within Government, usually by participating in electoral The Imperial Japanese Army ( IJA) ( Kyūjitai: 大日本帝國陸軍 Shinjitai: ja 大日本帝国陸軍 Romaji: Dai-Nippon Teikoku Likewise, the Rikken Minseito was connected to the Mitsubishi group, as was the Imperial Japanese Navy. was one of the main political parties in pre-war Japan. It was also known as simply the ‘Minseitō’ For Combined Fleet, please see that article For Carrier Striking Task Force, please see that article By the start of World War II, the Big Four zaibatsu alone had direct control over more than 30% of Japan's mining, chemical, metals industries and almost 50% control of the machinery and equipment market, a significant part of the foreign commercial merchant fleet and 60% of the commercial stock exchange. World War II, or the Second World War, (often abbreviated WWII) was a global military conflict which involved a majority of the world's nations, including A stock exchange, share market or bourse is a Corporation or Mutual organization which provides "trading" facilities for Stock

The zaibatsu were viewed with suspicion by both the right and left of the political spectrum in the 1920s and 1930s. Although the world was in the throes of a worldwide economic depression, the zaibatsu were prospering through currency speculation, maintenance of low labor costs and on military procurement. A recession is a contraction phase of the Business cycle. The U Speculation, in a financial context is making an investment that increases the overall risk in a portfolio Matters came to a head in the League of Blood Incident of March 1932, with the assassination of the managing director of Mitsui, after which the zaibatsu attempted to improve on their public image through increased charity work. was a 1932 Assassination plot in Japan in which extremists targeted wealthy businessmen and liberal politicians Managing director is the term used for the Chief executive of many limited companies in the United Kingdom, Commonwealth and some other English

History and development

The Big Four

The Big Four zaibatsu (四大財閥? shidai zaibatsu) of Mitsubishi, Mitsui, Sumitomo and Yasuda are the most historically significant zaibatsu groups, having roots stemming from the Edo period. The, Mitsubishi Group of Companies, or Mitsubishi Companies is a Japanese conglomerate consisting of a range of autonomous businesses which share the Mitsubishi is one of the largest corporate conglomerates ( Keiretsu) in Japan and one of the largest publicly traded companies in the world is one of the largest Keiretsus ' founded by Masatomo Sumitomo. Yasuda zaibatsu ((安田財閥 was a financial conglomerate owned and managed by the Yasuda family The, also referred to as the Tokugawa period (徳川時代 Tokugawa-jidai) is a division of Japanese history running from 1603 to 1868 During the Tokugawa Shogunate, the government employed their financial powers and expertise for various endeavors, including tax collection, military procurement and foreign trade, which the zaibatsu often provided free of charge in exchange for the privilege of managing government funds. The Tokugawa shogunate, also known as the, and the, was a feudal regime of Japan established by Tokugawa Ieyasu and ruled by the Shoguns of A tax collector is a person who collects unpaid Taxes from other people or corporations International trade is exchange of Capital, Goods, and Services across International borders or Territories. The practice continued after the Meiji Restoration overthrew the Tokugawa in 1868. The, also known as the Meiji Ishin, Revolution, or Renewal, was a chain of events that led to enormous changes in Japan 's political and social structure [1]

The new zaibatsu

Beyond the Big Four, consensus is lacking as to which companies can be called zaibatsu, and which cannot. After the Russo-Japanese War, a number of so-called "second-tier" zaibatsu also emerged, mostly as the result of business conglomerations and/or the award of lucrative military contracts. The Russo-Japanese War (日露戦争 Romaji: Nichi-Ro Sensō Русско-японская война Russko-Yaponskaya Voyna;, 10 February 1904 – 5 September Some more famous second-tier zaibatsu included the Okura, Furukawa, and Nakajima groups, among several others. The Nakajima Aircraft Company ( Japanese:中島飛行機株式会社/Nakajima Hikōki Kabushiki Kaisha was a prominent Japanese Aircraft manufacturer throughout

The early zaibatsu permitted some public shareholding of some subsidiary companies, but never of to the top holding company or key subsidiaries. A public company usually refers to a company that is permitted to offer its registered securities ( Stock, bonds, etc

The monopolistic business practices by the zaibatsu resulted in a closed circle of companies until Japanese industrial expansion on the Asian mainland (Manchukuo) began in the 1930s, which allowed for the rise of a number of new groups (shinko zaibatsu), including Nissan. Manchukuo (ja [[wikt満州国 満州国]] Manshūkoku lit "State of Manchuria " was a Puppet state in Manchuria and eastern Nissan, or Nissan Group (nichiyo-kai was one of Japan's most powerful business groupings called Keiretsu, founded by Yoshisuke Aikawa. These new zaibatsu differed from the traditional zaibatsu only that they were not controlled by specific families, and not in terms of business practices.

Postwar dissolution

Seizure of the zaibatsu families assets, 1946
Seizure of the zaibatsu families assets, 1946

The zaibatsu had been viewed with some ambivalence by the Japanese military, which nationalized a significant portion of their product capability during World War II. Nationalization, also spelled nationalisation, is the act of taking an industry or assets into the Public ownership of a national government World War II, or the Second World War, (often abbreviated WWII) was a global military conflict which involved a majority of the world's nations, including Remaining assets were also highly damaged by the destruction during the war.

Under the American occupation after the surrender of Japan, a partially successful attempt was made to dissolve the zaibatsu. Supreme Commander of the Allied Powers ( SCAP) was the title held by General Douglas MacArthur during the Occupation of Japan following World War II The surrender of Japan in August 1945 brought World War II to a close Many of the economic advisors accompanying the SCAP administration had experience with the New Deal program under American President Roosevelt, and were highly suspicious of monopolies and restrictive business practices, which they felt to be both inefficient, and to be a form of corporativism (and thus inherently anti-democratic). Supreme Commander of the Allied Powers ( SCAP) was the title held by General Douglas MacArthur during the Occupation of Japan following World War II The New Deal was the name that United States President Franklin D In Economics, a monopoly (from Greek monos, alone or single + polein, to sell exists when a specific individual or enterprise has sufficient Historically corporatism (corporativismo refers to a political or Economic system in which power is held by civic assemblies that represent Economic Democracy is a form of government in which the supreme power is held completely by the people under a free electoral system

During the occupation of Japan, sixteen zaibatsu were targeted for complete dissolution, and twenty six more for reorganization after dissolution. At the end of World War II, Japan was occupied by the Allied Powers, led by the United States with contributions also from Australia, British Among the zaibatsu that were targeted for dissolution in 1946 were Asano, Furukawa, Nakajima, Nissan, Nomura, and Okura. Their controlling families' assets were seized, holding companies eliminated, and interlocking directorships, essential to the old system of inter-company coordination, were outlawed. A holding company is a company that owns part all or a majority of other companies' outstanding Stock. Matsushita, while not a zaibatsu, was originally also targeted for breakup, but was saved by a petition signed by 15,000 of its union workers and their families. A trade union or labour union is an organization of workers who have banded together to achieve common goals in key areas such as wages hours and working conditions forming [2]

However, complete dissolution of the zaibatsu was never achieved, mostly because U. S. government rescinded the orders in an effort to reindustrialize Japan as a bulwark against Communism in Asia. Communism is a Socioeconomic structure that promotes the establishment of an egalitarian, classless, stateless Society based [3] Zaibatsu as a whole were widely considered to be beneficial to the Japanese economy and government, and the opinions of the Japanese public, of the zaibatsu workers and management, and of the entrenched bureaucracy regarding plans for zaibatsu dissolution ranged from unenthusiastic to disapproving. Additionally, the changing politics of the Occupation during the reverse course served as a crippling, if not terminal, roadblock to zaibatsu elimination.

Modern-day influence

Today, the influence of the zaibatsu can still be seen in the form of financial groups, institutions, and larger companies whose origins reach back to the original zaibatsu, often sharing the same original family names (for example, Sumitomo Mitsui Banking Corporation). Sumitomo Mitsui Banking Corporation (SMBC Mitsui Sumitomo Ginkō, 株式会社三井住友銀行 is a Japanese bank based in Yurakucho Chiyoda-ku However, some argue that the "old mechanisms of financial and administrative control" that zaibatsu once enjoyed have been destroyed. Despite the absence of an actualized sweeping change to the existence of large industrial conglomerates in Japan, the zaibatsu's previous vertically integrated chain of command, ending with a single family, has now widely been displaced by the horizontal relationships of association and coordination characteristic of keiretsu (系列?). In Microeconomics and Management, the term vertical integration describes a style of Management control. In a Military context the chain of command is the line of authority and responsibility along which orders are passed within a Military unit and between different In Astronomy, Geography, Geometry and related sciences and contexts a plane is said to be horizontal at a given point if it is locally Keiretsu, meaning "series" or "subsidiary", could be interpreted as being suggestive of this difference. A is a set of companies with interlocking Business relationships and shareholdings. A subsidiary, in business matters is an entity that is controlled by a bigger and more powerful entity

List of zaibatsu

The Big Four

Second-tier zaibatsu

Bankrupt zaibatsu

Zaibatsu in popular culture

The term zaibatsu has been used often in books, comics, video games and films, referring to large, sinister Japanese corporations, who are often involved in shady dealings and/or have connections to the yakuza. The, Mitsubishi Group of Companies, or Mitsubishi Companies is a Japanese conglomerate consisting of a range of autonomous businesses which share the Mitsubishi is one of the largest corporate conglomerates ( Keiretsu) in Japan and one of the largest publicly traded companies in the world is one of the largest Keiretsus ' founded by Masatomo Sumitomo. Yasuda zaibatsu ((安田財閥 was a financial conglomerate owned and managed by the Yasuda family ( is a Japanese Cement company and is the biggest of its kind in Japan Fujita (藤田 was the name of a Japanese Zaibatsu based in Osaka. operating under the brand name FE, is a Japanese Holding company that retains manufacturing companies of pressure transmitters flowmeters gas analyzers controllers is a Japanese chemical engineering firm History Prior to World War II it was a part of the Mori group of companies as. ( is an international corporation based in Japan. It has headquarters in both Chūō-ku, Kobe and Minato Tokyo. The Nakajima Aircraft Company ( Japanese:中島飛行機株式会社/Nakajima Hikōki Kabushiki Kaisha was a prominent Japanese Aircraft manufacturer throughout The is a Japanese chemical company. It is particularly well known as a supplier of Liquid crystal used for LCD displays Chisso has been the subject of controversy Nissan, or Nissan Group (nichiyo-kai was one of Japan's most powerful business groupings called Keiretsu, founded by Yoshisuke Aikawa. The is an international conglomerate of financial services and consulting companies headquartered in the Nihonbashi district of Tokyo, Japan. ( is a Japanese corporation which was established in 1873 Its main areas of business are building construction, Civil engineering, and real estate development is a large Natural sciences research institute in Japan. It was founded in 1917 and now has approximately 3000 scientists on seven campuses across Japan the main one in Shibusawa Eiichi 1st Viscount Shibusawa |渋沢 栄一| Shibusawa Eiichi | March 16, 1840 - November 11, 1931 }} was a Japanese History Origins Despite their notoriety in modern Japan the precise origin of the Yakuza is still somewhat the subject of debate Examples include the "Mishima Zaibatsu" which is mentioned throughout the Tekken series and the "Zaibatsu" criminal group in Grand Theft Auto 2. is a series of Fighting games developed and published by Namco. Grand Theft Auto 2 (abbreviated as GTA2) is a Video game that was released worldwide on October 22, 1999, by developer The character Karin in the Street Fighter series belongs to the "Kanzuki Zaibatsu". or commonly abbreviated as SF, is a popular series of Fighting games in which the players pit combatants from around the world each with his or her own In the Tom Clancy book 'Debt of Honor', a group of zaibatsu seize control of Japan and invade the US-held Mariana Islands. Thomas Leo Clancy Jr (born April 12 1947) is an American author best known for his technically detailed espionage and Military science storylines Debt of Honor ( 1994) is a Novel by Tom Clancy. It is a continuation of the series featuring his character Jack Ryan. The Mariana Islands (also the Marianas; up to the early 20th century sometimes called Ladrones Islands, from Spanish Islas de los Ladrones meaning In other cases zaibatsu are used simply to provide the background for a character from an influential family, such as in the case of the F4 in Boys Over Flowers who are the sons/heirs of the 4 (fictional) biggest corporations in Japan; this is an obvious reference to the Big Four. is a Japanese Shōjo manga series by Yoko Kamio. It was serialized in the bi-weekly anthology magazine Margaret, which is aimed at high-school-age "Heir" and "Heiress" redirect here For the men and women fragrances endorsed by Paris Hilton see Heiress (fragrance. The Itoshiki family from Sayonara Zetsubō Sensei owns a zaibatsu to accentuate their heavy economical and political background. is a Japanese Manga by Kōji Kumeta, serialized in Weekly Shōnen Magazine. Sonoko Suzuki of Meitantei Conan is a daughter of the chairman of "Suzuki Zaibatsu", and, more prominently, Kaoru Hanabishi of "Hanabishi Zaibatsu" and Aoi Sakuraba of "Sakuraba Group" in Ai Yori Aoshi; In William Gibson's Sprawl trilogy, 'Zaibatsu' is the generic term used for the megacorporations prevalent in the futuristic world in which the plot is set. Case Closed, known as in Japan and most other countries is a detective Manga and Anime series written and illustrated by is a Manga by Kou Fumizuki, originally serialized in 1998 in Hakusensha 's Young Animal, a magazine for young men William Ford Gibson (born March 17 1948 is an American - Canadian writer who has been called the "noir prophet" of the Cyberpunk subgenre The Sprawl trilogy (also Neuromancer trilogy, Cyberspace trilogy) is William Gibson 's first set of Novels composed of Neuromancer

See also

References

External links

Notes

  1. ^ Watkins, Thayer. The Zaibatsu of Japan
  2. ^ Morck & Nakamura, p. 33
  3. ^ In his 1967 memoirs, Kennan wrote that aside from the Marshall Plan, setting the "reverse course" in Japan was "the most significant contribution I was ever able to make in government. The Marshall Plan (from its enactment officially the European Recovery Program, ERP) was the primary plan of the United States for rebuilding and creating a stronger " George F. Kennan, Memoirs, 1925-50 (Boston, 1967), 393.
  4. ^ While chaebol is often viewed as the Korean cognate to zaibatsu, both the Korean and the Japanese words are composed of loans from Chinese, and thus are not cognates in the true sense of the word. Cognates in Linguistics are words that have a common origin They may occur within a language such as shirt and skirt as two English words descended from


Dictionary

zaibatsu

-noun

  1. (economics) Japanese term for ‘money clique’ or conglomerate, and sometimes used in the United States to refer to any large corporation.
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