The introduction of the division system was the first step in Mitsubishi's transformation from a one-man rule company to a truly modern corporate structure, equipped to meet the challenges of a rapidly changing and increasingly international business environment. In , while Japan prospered during the war boom of WWI, Hisaya stepped down as president and entrusted the reigns of leadership to his cousin Koyata Iwasaki. At the time Hisaya was 50 years old, and he felt he could confidently entrust the business to his successor at such a time of robust economic growth.
It was a truly selfless decision, and having passed over the reins of power, Hisaya refrained from interfering in the business of Mitsubishi Goshi Kaisha. Following his retirement, Hisaya Iwasaki worked to contribute to society, while also being involved in agriculture and cattle raising at Koiwai Farm. In , he established The Toyo Bunko Foundation, which has become one of the world's leading centers for Asian studies.
Currently, the facility houses about thousand documents and many artifacts for public viewing. On October 20, , only two months following Japan's surrender to the Allied Forces, Japan was dealt a further economic hardship when the Allied Command ordered the disbanding of all zaibatsu, the nation's industrial and financial business conglomerates.
The order was given because Allied Command considered the military and the zaibatsu to have been ultimately responsible for driving Japan into the war, and sought to break up economic forces that exercised totalitarian monopolistic power.
The hard work of many went unrecognized at the time of the dissolution of these zaibatsu corporations, and among them, the work of Yataro Iwasaki and the Mitsubishi Group. Koyata Iwasaki, the founder's nephew and fourth president of Mitsubishi, was an outspoken advocate, asserting publicly that Mitsubishi was a friend to many business partners around the world and that it had never engaged in dishonorable business practices.
Koyata Iwasaki was the most international spirited Japanese businessperson of his era, having completed his formal education at the famed University of Cambridge in England. Despite the spirit of internationalism and social justice he engendered, at the outbreak of hostilities following Japan's attack on Pearl Harbor, Koyata Iwasaki stated at a speech given to the assembled top executives of each Mitsubishi Group company: "Now our nation has come to a decision.
And although my personal ideas regarding diplomacy depart from those of the nation, we are all now called upon to follow the order of our Emperor, to be united and to endeavor with all our strength for the nation.
A forward thinker, Koyata Iwasaki spoke of the day when people everywhere could work towards the global good. He was a man dedicated to the ideas of international understanding and the globalization of markets, long before the concepts and phrases had entered our modern lexicon. His idea of 'corporate responsibility to society' guiding individual and corporate actions, known in Japanese as shoki hoko, would define one of Mitsubishi's guiding principles for decades to come.
It is important to remember, that during the turbulent years of WWII and in its aftermath, the Mitsubishi Group continued its responsible stewardship of its associated British and American business interests in Japan and the region, in this spirit of Koyata's dedication to internationalism. Koyata's strong conviction that integrity and fairness were the foundation of all business remains a cornerstone of Mitsubishi's management philosophy today.
Amidst the economic depression of the early 20th century, Mitsubishi's operations were guided by a set of core principles. With the nation hard hit by the difficult economic times, Koyata advocated responsible action and assistance to manufacturers, producers and the public Mitsubishi served.
Placing an unwavering commitment to quality and fair business practices, Mitsubishi survived and prospered and in many instances took a leadership role in moving the industries in which it conducted business to profitability and sustainable prosperity.
In , his ideas became officially accepted as Mitsubishi's guiding principles, and these principles would lead the company to greatness in the 20th century and beyond. Tokyo's Marunouchi district, which had developed as a focal area for the army of the new government following the Meiji Restoration, gradually transformed itself into the nation's nerve center for business activities. In , the first modern office building was constructed in the British red-brick architectural style and in , the country's landmark Tokyo Station was opened as the transportation hub of the nation.
The early s, saw construction of American-style office buildings for Japan's growing business center. These were large and could be built relatively quickly. It was at this time that Koyata made the decision to build Mitsubishi's new building.
The former Marunouchi Building was a landmark structure, which opened on February 20, , after being built in record time using new construction technology by a leading New York construction firm. Less than a year after its completion, the Marunouchi Building survived the Great Kanto Earthquake of , which devastated most of the Tokyo skyline.
The famous icon facing Tokyo Station was demolished in as part of a massive redevelopment project for the district. In , a new Marunouchi Building was completed. It has become a familiar landmark in the Marunouchi area. Following the end of WWII, the Allied Forces in Japan demanded the dissolution of the zaibatsu that had held so much power in the prewar period ending nearly 70 years of Mitsubishi's leadership by four generations of the Iwasaki family.
In September the company disbanded its headquarters, and its network of affiliates and subsidiaries were all re-launched as independent companies. Moreover, GHQ orders strictly prohibited the use of the Mitsubishi trade name or logo.
The San Francisco Peace Accord in brought about a repeal of the ban on using zaibatsu trade names and logos. With this change, former Mitsubishi Group companies reclaimed the Mitsubishi name and in , Mitsubishi Corporation was established after a series of mergers.
The typhoon Isewan struck the Kii Peninsula on September 26, , killing more than 5, and injuring about 40, Japanese citizens, and becoming Japan's most destructive typhoon in more than a century. In the wake of this natural disaster, the Japanese government moved to build weather warning facilities, establishing a weather observatory on the summit of Mt.
Fuji and ushering in a new era of meteorological observation systems throughout the country. Mitsubishi Electric Corporation received the order to build the facility. On August 15, , construction of the radar towers atop Mt. Fuji was completed, establishing Japan's first earlywarning weather system. The range of the new facility was kilometers.
Over the following 35 years, the Mt. Fuji radar system continued to play a key role in Japan's early-warning weather systems. In March , the Mt. Fuji radar system was recognized as an important milestone by the Institute of Electrical and Electronics Engineers, Inc. IEEE of the U. In , Mitsubishi Heavy Industries, Ltd. MHI completed the reunification of its former companies.
In September of the same year, the Mitsubishi Public Affairs Committee was established with the mission of increasing the Mitsubishi Group's involvement in community activities and its contribution to society overall. The move was also designed to increase public recognition for the Mitsubishi brand and to enhance communication among the growing numbers of companies comprising the Mitsubishi Group.
In October of the same year, the opening of the Tokyo Olympics realized Japan's long-held desire and allowed the country to demonstrate to the whole world that it had truly recovered.
During the s, enterprises closely aligned with Mitsubishi began to strengthen their mutual links. At the same time, Mitsubishi took a positive approach to foreign capital. For example, Mitsubishi Petrochemical Co. The iconic Lancer Evolution launches and goes on to win many World Rally Championship, track racing and hill climb titles.
Mitsubishi Motors introduces next-generation MIVEC engine technology that maintains engine performance while maximizing fuel efficiency.
Mitsubishi Motors leads the development of environmentally friendly engineering by launching the world's first Gasoline Direct Injection GDI engine. The FTO-EV prototype earns a Guinness World Record by being the first electric car to travel 2, kilometers in 24 hours, beating the previous record by km.
Mitsubishi Motors proudly announces Drive Earth, a pledge to create vehicles that can exist in harmony with people, society and the environment. This effort combines the power of EV, PHEV and other emissions-reducing technologies with corporate initiatives designed to preserve and sustain the global environment.
After more than 40 years of development and many awards, the production version of the Mitsubishi Innovative Electric Vehicle i-MiEV is launched to multiple markets worldwide.
Powered by Mitsubishi Motors' all-new plug-in hybrid system, PX-MiEV employs both serial and parallel hybrid technologies to maximize on-road performance while minimizing emissions and fuel consumption. Mitsubishi Motors celebrates its 30th anniversary in the U. All feature exclusive 18" black alloy wheels, distinctive badging and styling that stands out from the pack. After years of automotive engineering and accomplishments, Mitsubishi Motors is setting its sights on the next generation of EV and connected car technology.
Production of jeeps fully outsourced to Toyo Koki Co. Automotive research and development center was set up in Nagoya plant. The soccer team of Mitsubishi Heavy Industries, Ltd. Concluded an agreement with CMC to provide assistance on enhancing domestic production in Taiwan. Concluded an agreement to provide technical assistance for the 4G36 model engine to Hyundai Motor Company. Founded Japan Automotive Engineering Co. Mizushima plant achieved production of a cumulative total of 10 million units.
Established property management companies at each plamts. Established Mitsubishi Motors Europe B. MME in the Netherlands. Conducted the first ever capital increase through public stock offering since being listed. Changed the name of Shinryo Automotive Service Co.
Changed the name of Daiya Automotive Transportation Co. MMSE in the Netherlands. Achieved post-war production of a cumulative total of 25 million units of four-wheeled vehicles. Achieved production of a cumulative total of 25 million engines. Manufactured a prototype of hybrid electric vehicle, and conducted tests in collaboration with California Air Resources Board.
Introduced cylinder gasoline direct injection engine GDI. Issued Environmental Report currently Sustainability Report. Officially certified in the Guinness World Records for a 2,km drive in 24 hours by its electric vehicle.
Entered agreement for equity alliance with DaimlerChrysler. Quality issues revealed through spot inspection by the Ministry of Transport currently Ministry of Land, Infrastructure, Transport and Tourism. Kawasaki Baseball Team entered the 71st Intercity Baseball Tournament and won the title for the first time.
Fatal accident occurred due to a front tire that came off a Mitsubishi heavy-duty truck.
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