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Biography of Yataro Iwasaki~Founder of Mitsubishi


Yataro Iwasaki Biography - Founder of Mitsubishi
Yataro Iwasaki is the founder of Mitsubishi (岩崎 弥 太郎 Yataro Iwasaki, 9 January 1835-7 February 1885) He was born into a peasant family in the province of Aki, Tosa Province (now Kochi). The son of a simple farmer, Yataro began his career working on Tosa clan. Klan held in many places in Japan fatherly business interests, in order to stimulate young people to be ambitious to build a good economy.

Yataro began his career working on the Tosa clan, he went to Edo (now Tokyo) when he was nineteen years old looking for educational aims. Serious injury suffered by his father in a dispute with the village head makes Yataro home from Edo a year later and while on leave from his studies. The local magistrate refused to process the cases of ayahya and Yataro accused judges of corruption. He was sent to prison for seven months. After his release he did not have a job for a while before finding a job as a village schoolteacher.

Back to Edo, he socialized with political activists and studied under the reformist Toyo Yoshida, influenced by the ideas of opening and developing the nation's economy through industry and foreign trade. Shortly thereafter, through Yoshida, he found work as a clerk for the Tosa government. He was later promoted to top positions in the Tosa clan trading office in Nagasaki, which is responsible for trading camphor oil and paper to buy ships, weapons, and ammunition.

After the Meiji Restoration in 1868 that forced the dissolution of the shogun of business interests, Iwasaki traveled to Osaka and lease the rights to trade Tosa clan Tsukumo Trading Company. The Company changed its name to Mitsubishi in 1873.

The company adopted the name of Mitsubishi in March 1870, when it officially became president Yataro. Symbol which is a combination of the Iwasaki family emblem and an oak leaf peak Yamanouchi family, clan leaders who controlled the Yataro Tosa in Shikoku where born.

Mitsubishi later almost fell while Formosan Incident occurred. Fifty-four Japanese fishermen were killed on the island of Formosa (China) but the Chinese government is not responsible for it. Yataro company initially blamed, but then things got better and even Yataro won the right to operate government vessels such as ships to transport men and material, then the company began to grow again.

Yataro Iwasaki is a personal allegiance to the new Japanese government, as well as to the company. Mitsubishi provided the ships that carry Japanese troops to Taiwan, with the agreement he had the right to operate more ships and a large annual subsidy from the government. He agreed to carry mail and other government supplies. With government support, he was able to buy more ships and increase Mitsubishi's shipping lanes. Who helped him

take two large foreign Delivery Shanghai route, thereby benefiting Yataro Mitsubishi Transportation Company which was set up. Later became a major shipping company, also brought troops to quell the rebellion in Kyushu. Yataro teach his men to "serve the passengers as possible" because they are a source of income. Modern attitude of "customer is always right" is the company's main weapon.

Mitsubishi diversified rapidly, first to obtain additional and expansion of passenger and cargo ship, and provide transportation for Japanese troops to Taiwan and Kyushu. This leads to more government support, which led to the supply contract and the rights of further shipments to the lucrative Shanghai route through the Mitsubishi Transportation Company which was founded Yataro. Then he invested in mining, ship repair and finance. In 1884 he took a lease of the Nagasaki Shipyard and renamed it Nagasaki Shipyard & Machinery Works, allowing companies to conduct full-scale boat building.

In 1885, Yataro lost control of the shipping companies behind the political struggle which hit Japan's marine transport industry. The company merged with a rival and became Nippon Yusen (NYK Line), who will return to the Mitsubishi companies in later years.

Despite the loss of a shipping company, founded Yataro other business (in banking, mining, paper and marine insurance) and which form the basis for the Mitsubishi organization. His net worth exceeding one million yen. Yataro so confident and sure that he can participate in many businesses. Mitsubishi Kawase-ten, for example, is a financial company is also involved in the warehousing business. It was the predecessor of the company is now called Mitsubishi Bank and Mitsubishi Warehouse & Transportation. Yataro also bought mine coal and copper mines after renting a Nagasaki shipyard from the government. He has participated in setting up an insurance company that is now benama Tokyo Marine and Fire. He even led the school is now the Tokyo University of Mercantile Marine.

Yataro Iwasaki is a very visionary entrepreneur. He often hosted dinner in his company officials. Iwasaki spent a large amount of money on this occasion but he was also getting a lot of advantages. Yataro much to help his friends who then helped him to do much good. He was very good in the relationship business relationships that will help in the future.

Yataro however, was not destined to lead the Mitsubishi organization in a new phase of growth. He died of cancer at the age of 50 years, and replaced the leadership of the family business by his brother first, and then his son.

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