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Following the end of WWII, the Allied Forces in Japan demanded the dissolution of zaibatsu that had held so much power in the prewar period. Despite the fact Mitsubishi had become a public traded company in 1946 with nearly half of its stock already owned by private investors, it was not immune to this dictate and disbanded it’s headquarters and its network of affiliated and subsidiary companies, ending nearly 70 years of ownership by the Iwasaki family. No longer was Mitsubishi authorized to use its trade names or logos for any purposes.
The outbreak of the Korean War in 1950, followed by the San Francisco Peace Accord in 1952, brought about the abolition of the ban on corporate activities and resulted in a sharp upturn in industrial production in Japan. With this change in events, Mitsubishi once again began to team with former group member companies to meet the output demands for rebuilding Japan’s economy. In 1954, Mitsubishi Corporation, which had been obliged to operate as well over a hundred minor trading companies, conducted a series of mergers leading to an overall merger into a single entity. |
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The typhoon Isewan struck the Kii peninsula on September 26, 1959, killing more than 5,000 and injuring over 40,000 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 create weather warning facilities, establishing a weather observatory on the summit of Mt. Fuji and ushering in a new era of meteorological observation systems and installation development throughout the country. Mitsubishi Electric Corporation received the order to build the facility.
On August 15, 1964, construction of the radar towers atop Mt. Fuji was completed, establishing Japan’s first early-warning weather system. The range of the new facility was 800 kilometers. Over the next 35 years, weather satellites continued to expand the range and detail of Japan’s early-warning systems.
In 2000, Mitsubishi was recognized by the Institute of Electrical and Electronics Engineers, Inc. (IEEE) for its technical expertise in the area of electronic communications technology. |
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In 1964, Mitsubishi Heavy Industries completed the reunification of its former companies and in September of the same year established the Mitsubishi Public Affairs Committee, with an aim to increasing its 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 between the growing numbers of companies comprising the Mitsubishi Group. With the opening of the Tokyo Olympics in October, 1964, Japan officially rejoined the world community, setting in motion its rapid movement towards restoration and economic development as a world class economic power. |
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During the 1960s, enterprises closely aligned with the Company began a process of mergers and stock sharing that resulted in reunification of the post-war Mitsubishi Group. At the same time, Mitsubishi took a positive approach to foreign capitals. For example, Mitsubishi Petrochemical was established in 1956 by joint venture with Royal Dutch Shell, Mitsubishi Reynolds Aluminum via joint venture with Reynolds Metals, and Mitsubishi Precision with General Precision both in 1962. Caterpillar Mitsubishi was established in 1963.
The rapid growth of the Japanese economy during the 1950s and 60s was due in no small part to the astounding growth in the manufacture of consumer product and expansion of consumer markets. Following close behind was growth in credit card businesses, of which Mitsubishi was a key player, organizing Diamond Credit (currently Mitsubishi UFJ NICOS) in 1967. In 1961, Mitsubishi Corporation, Kirin Brewery and Mitsubishi Heavy Industries established Coca-Cola bottling companies in several locations in Japan. |
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