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In his early days,
in 1886, Hisaya Iwasaki had studied at the Wharton School of the University of
Pennsylvania in the United States, among great capitalists such as Rockefeller
and Carnegie and experienced firsthand the big wave of business that surged across
the American continent in the early years of the 20th century.
His exposure to American education had a
profound impact on the young Iwasaki’s life and upon his return to Japan,
he built himself a western-style house designed by British architect, Josiah
Conder and surrounded it with gardens reminiscent of the American countryside.Today,
the Tokyo Metropolitan Government owns the house and gardens, so the public may
now enjoy this splendid representation of Western-style living. |
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In 1895, Nippon Yusen
built one of six passenger-cargo vessels (6,000-ton class) for a European line
at the Nagasaki Shipyard. Until this time, only British companies had the shipbuilding
capabilities to construct this size of commercial ship. Built at a loss for the
shipyard, the experience gained from the construction of this vessel set the
stage for a growing number of orders for larger vessels, including an order for
the 13,000-ton class luxury liner, TENYO MARU, and many subsequent orders for
large-scale battle ships. |
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In 1908, Hisaya Iwasaki
introduced into Mitsubishi a management system very much like today’s system
of operational divisions. The aim of this change was to give each division responsibilities
and cost consciousness in order to further expand the company’s businesses.
Mitsubishi Goshi Kaisha consisted of the divisions of banking, shipbuilding,
administration, mining, sales, and real estate, to which direct management authority
was then transferred. This move was a decisive and strategic gain for the growing
Mitsubishi, increasing both efficiency and profitability as a corporate enterprise.
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. |
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In 1916, while Japan
prospered during the war boom of WWI, Hisaya Iwasaki stepped down as president
and entrusted the reigns of leadership to a younger Koyata Iwasaki. At the time
Hisaya Iwasaki was 50 years old, and he felt he could confidently entrust the
business to his successor at such a time of robust economic growth. He was indifferent
to worldly gain, and thereafter did not interfere in the business of Mitsubishi
Goshi Kaisha.
Following his retirement, Hisaya Iwasaki
became involved in agricultural and cattle raising businesses, and in 1924, established
the Toyo Bunko Foundation, which has become one of the world’s leading
centers for Asian studies. Currently the facility houses about 950 thousand documents
and many artifacts for public viewing. |
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