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Zaibatsu — Japanese conglomerate companies of the Empire of Japan. All zaibatsu were disestablished the end of WW II in 1945. Some were reformed as keiretsu and/or present day conglomerate companies.
After the opening of Japan in the mid-1800s, trade between Japan and the outside world was initially dominated by foreign merchants and traders from Western countries. As Japan modernized, a number of existing family-run conglomerates known as zaibatsu (most notably Mitsubishi and Mitsui) developed captive trading companies to coordinate production, transportation and financing between the ...
Marunouchi headquarters for the Mitsubishi zaibatsu, 1909. Zaibatsu (財閥, lit. ' asset clique ') is a Japanese term referring to industrial and financial vertically integrated business conglomerates in the Empire of Japan, whose influence and size allowed control over significant parts of the Japanese economy from the Meiji period to World War II.
Many both in and outside Japan share an image of the Japanese work environment that is based on a "simultaneous recruiting of new graduates" (新卒一括採用, Shinsotsu-Ikkatsu-Saiyō) and "lifetime-employment" (終身雇用, Shūshin-Koyō) model used by large companies as well as a reputation of long work-hours and strong devotion to one's company.
Furukawa Group (古河グループ, Furukawa Gurūpu) formerly Furukawa zaibatsu (古河財閥) is one of Japan's 15 largest industrial groups. Its origins date back to 1875, founder Furukawa Ichibei. This group specialized in mining, electronics, and chemicals industry before World War II. [1]
The Sumitomo Group (Japanese: 住友グループ, Hepburn: Sumitomo Gurūpu) is a Japanese corporate group and keiretsu that traces its roots to the zaibatsu groups that were dissolved after World War II. Unlike the zaibatsu of the pre-war period, there is no controlling company with regulatory power. Instead, the companies in the group hold ...
The word originates from the Sino-Japanese term zaibatsu (財閥), where 財 means 'wealth' and 閥 means 'clan'. [9] The Japanese zaibatsu dominated their economy from 1868 until they were dissolved under the American Occupation of Japan in 1945. The rise and proliferation of the Korean chaebol resembles the Japanese zaibatsu at their peak.
In Japan, most students hunt for jobs before graduation from university or high school, seeking "informal offers of employment" (内定, naitei) one year before graduation, which will hopefully lead to "formal offer of employment" (正式な内定, seishiki na naitei) six months later, securing them a promise of employment by the time they graduate.