Zaibatsu: The Rise and Fall of Family Enterprise Groups in Japan

Zaibatsu are central to the economic history of modern Japan. These family-owned business groups, some of which grew to immense size, reached their mature form in the early decades of the twentieth century and dominated numerous sectors of the economy until their dissolution under the Allied Occupation following World War II. They provided much of the impetus for the country's modern economic development, and many large-scale companies that today wield enormous influence over the contemporary world economy had their origins in the zaibatsu. It is the objective of this book to clarify why and how the zaibatsu became leaders in the economy as it developed during the prewar period.
Focusing on ten major zaibatsu, Professor Morikawa, an eminent scholar of business history, studies the factors that marked the history of zaibatsu and the political and economic times in which they thrived. Among the many themes discussed are their diversification strategy and system of multisubsidiaries, which encompassed various key industries of the economy - mining and steel, shipbuilding and shipping, trading, banking and life insurance; relationships within the owner family as well as with the salaried staff; and government policy.