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On October 20, 1945,
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 largest family-owned corporations. The goal
of the order was twofold: one, to remove the economic forces that had led to
a monopoly of power and ultimately Japan’s hostility towards its Pacific
neighbors, and two, to demonstrate to the Japanese people that war was an economically
unsound proposition. It was during this period that the hard work of many went
unrecognized with the dissolution of these family-owned corporations, and among
them, the work of Yataro Iwasaki and the Mitsubishi Group. Koyata Iwasaki, the
founder’s nephew and fourth president of the Group, 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. |
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Koyata Iwasaki was the
most international spirited Japanese businessperson of his era; unlike his contemporaries,
he 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 publicly: “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 small voice of reason in a time
of turmoil and growing call to arms, Iwasaki urged the nation to look beyond
the current state of affairs, and envision a time when internationalism and peace
would prevail. A forward thinker, Koyata Iwasaki spoke of the day when people
everywhere could work towards the common 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. This visionary’s
idea of ‘the common good’ 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, Mitsubishi continued its responsible
stewardship of British and American business interests in Japan and the region,
in this spirit of protecting the common good on behalf of its foreign business
partners and allies. |
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Koyata Iwasaki’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 unlike those of its competitors. With
the nation hard hit by the difficult economic times, Iwasaki advocated for responsible
action and assistance to manufacturers, producers and the public it 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
1934, 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. |
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Tokyo’s Marunouchi
district, which had developed as Japan’s military station for the government
following the Meiji Restoration, gradually transformed itself into the nation’s
nerve center for business activities. In 1894, the first permanent buildings
were constructed in the British red-brick architectural style and in 1914, the
country’s landmark Tokyo Station was opened as the transportation hub of
the nation.
During the early 1920s, construction of high-rise
reinforced concrete buildings began to meet the skyrocketing demand for office
space for Japan’s new business sectors, and it was at this time that Koyata
Iwasaki made the decision to build Mitsubishi’s new building, employing
American architectural technology. The landmark structure, which opened on February
20, 1923, was built in record time using new construction technology by a leading
New York construction firm, opening on February 20, 1923. Less than a year after
completion, the Great Kanto Earthquake of 1923 devastated most of the Tokyo skyline.
The Marunouchi Building survived. The famous icon facing Tokyo Station was demolished
in 1999 as part of the district’s massive redevelopment project. |
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