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Wednesday, 27 February 2008 |
The well-known "three-diamond" trademark and the name "Mitsubishi" (Mitsu = 3, Bishi = stone/diamond) are actually a combination of family crests: the triangular leaves of the water chestnut of the Iwasaki family and the three oak leaves of the Yamauchi family. They were used as emblems on the flags of Tsukumo Shokai ships, the small shipping company of Yataro Iwasaki.
Around 1870, Yataro Iwasaki, the founder of the company, leased three steamships and therewith founded a transport company. In the following years the company steadily expanded to a fleet of more than 30 ships, and Mitsubishi established a firm base in the modern shipping industry. In addition to its maritime business, Mitsubishi diversified into a number of different fields of industry the first of which was coal mining, initiated in 1881 with the purchase of the Takashima Coal Mine. The other was shipbuilding, started in 1884 with the rental of the government-owned Nagasaki Shipyard. These two enterprises were to form the core of the new Mitsubishi.
The company's second president, Yanosuke Iwasaki, changed the corporate name from Mitsubishi Mail Steamship Company to Mitsubishi Company, and devoted himself to the organization's reconstruction, concentrating on its two new businesses. Further presidents of the Iwasaki family followed the example of their predecessors and restructured the Mitsubishi organization, setting up divisions in Metal Mining, Coal Mining, Shipbuilding & Engineering, Banking, Trading and Estate.
Mitsubishi developed into a very large family-owned company with more than 70 enterprises. To coordinate the operations of his growing family of companies, the Mitsubishi Kyogikai ("Top Management Meeting") was established in 1937. Although this committee served as an important forum, the true unifier among the companies was Mitsubishi's management philosophy which is based on three fundamental principles of business: Corporate responsibility to society, Integrity and fairness, International understanding through trade.
Mitsubishi's holding company was dissolved under the postwar policy of decentralizing economic power. Various independent companies came into being many of which still use the name "Mitsubishi" and the "three-diamond" mark, for example the Mitsubishi Bank, Mitsubishi Motors, and last but not least Mitsubishi Electric. Although the companies retain their autonomy and developed independently, they benefit from the shared sense of community coming from a common history and corporate culture.
Mitsubishi Electric Corporation
From the shipbuilding company presently called Mitsubishi Heavy Industry the production facilities for electrical shipbuilding equipment was separated in 1921 and thereby the establishment of Mitsubishi Electric Corporation initiated. Subsequently, Mitsubishi Electric became a world leader in developing, manufacturing, and marketing electronic and electrical equipment used in information processing and communications, space developement and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment.
Today Mitsubishi Electric has bases for R&D, production, sales, and other operations in over 110 locations all over the world. Our global activities allow us to faster cultural exchange and mutual understanding, and aim to make lasting contributions to people in communities around the world. We participate in cultural and educational projects and strive to cooperate with local communities.
Mitsubishi Electric commenced its business in Hungary in 2006 through Navigator GmbH.
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