Mitsubishi Corporation

Mitsubishi Corporation is a Japanese multinational conglomerate that is involved in a wide range of businesses, including energy, metals, machinery, chemicals, food, and finance. The company was founded in 1950 and is headquartered in Tokyo, Japan.

Mitsubishi Corporation has a global presence with operations in over 90 countries and a workforce of over 77,000 employees. The company's business activities are divided into 10 business groups, each of which focuses on a specific industry or sector.

The company's energy business includes oil and gas exploration, production, and distribution, as well as renewable energy projects such as wind and solar power. The metals group is involved in the production and distribution of metals such as copper, nickel, and iron ore. The machinery group produces and distributes a wide range of machinery and equipment, including construction machinery, power generation equipment, and machine tools.

In addition to its core businesses, Mitsubishi Corporation also has a strong presence in the food industry, with operations in areas such as grain trading, meat processing, and dairy production. The company's chemical group produces a wide range of products, including petrochemicals, plastics, and fertilizers.

Mitsubishi Corporation is also active in the finance sector, with businesses in areas such as banking, insurance, and asset management. The company operates through its subsidiary, Mitsubishi UFJ Financial Group, which is one of the largest financial institutions in Japan.

Throughout its history, Mitsubishi Corporation has been known for its commitment to corporate social responsibility and sustainable business practices. The company has implemented a range of initiatives to reduce its environmental impact and promote social development in the communities where it operates.

Today, Mitsubishi Corporation remains a major player in the global business world, with a strong reputation for innovation, efficiency, and responsible business practices. The company's diverse portfolio of businesses and commitment to sustainability make it a leader in the 21st-century business landscape.

Mitsubishi Corporation has a long and varied history that dates back to its origins in the 1800s. In 1954, Mitsubishi International Corporation ("MIC") was incorporated as a wholly-owned subsidiary of Mitsubishi Corporation, and the current Mitsubishi Corporation was founded by the merger of three companies to form Mitsubishi Shoji Kaisha, Ltd. in the same year. The company listed on the Tokyo Stock Exchange and Osaka Stock Exchange in 1954.

Throughout the 1950s and 1960s, Mitsubishi continued to expand its global presence, opening fifty-one overseas offices by 1960. In 1964, Mitsubishi Heavy Industries, Ltd. completed the reunification of its former companies. In 1967, Mitsubishi helped to establish a forestry company called Balikpapan Forest Industries in Indonesia and signed a joint venture agreement with Shell to establish Brunei LNG.

In the 1970s, Mitsubishi established a joint marketing agreement with Chrysler Corporation to sell cars in the United States built by Mitsubishi Motor Company. In 1970, the Group formed Mitsubishi Research Institute and sponsored the Mitsubishi Pavilion at the Japan World Exposition in Osaka to mark its centennial anniversary. In 1971, Mitsubishi Shoji adopted the English name of Mitsubishi Corporation (MC), and the company's first large-scale investment outside Japan was a liquefied natural gas project in Brunei.

In the 1980s, the keiretsu system prevented Kuwait Petroleum Corp.'s threatened takeover of Mitsubishi Oil in 1984. In 1986, the company shifted its focus from operating transactions to profits, and in 1989, MC was listed on the London Stock Exchange.

In the 1990s, Mitsubishi Motors formed a joint venture with German automaker Daimler-Benz and acquired one-third of Netherlands-based Volvo. In 1991, Mitsubishi bought out Chrysler's interest in the company and renamed it Mitsubishi Motors Manufacturing America. In 1992, MC announced a new management policy to reinvent the company as a “Sound, Global Enterprise” and began placing greater focus on its consolidated operations and increasing the value of its assets.

Since the announcement to rebuild the Marunouchi Building in 1995, the vicinity of Tokyo Station has been subject to major redevelopment. In 1999, the famous icon facing Tokyo Station was demolished as part of a massive redevelopment project for the district. In 2002, a new Marunouchi Building was completed.

In the 2000s, MC was considered one of the Top 2000 Largest Public Companies in the World according to Forbes. In 2007, MC established the Business Innovation Group and Industrial Finance, Logistics & Development Group. In 2008, Japan's first manned experiment space station, the Japanese Experiment Module "Kibo," was connected to the International Space Station (ISS), and the first experiment was carried out.

In 2010, the Marunouchi Park Building and Mitsubishi Ichigokan were completed, and MC reorganized and enhanced its Global Environment Business Development Group and Business Service Group. In 2012, Mitsubishi Corporation (Americas) ("MCA") was established as the US holding company for MIC and certain other MC Group companies in North America.

In 2015, the Mitsubishi Regional Jet (MRJ) made its first flight as Japan's first domestically developed passenger jet, and Mitsubishi was again the top-ranked general trading company by net earnings. However, in 2016, Mitsubishi saw its first postwar net loss due to a slowdown in the Chinese economy and a slump in commodity markets, causing Mitsubishi to lose its #1 position to Itochu.

In 2020, Mitsubishi Corporation continued to pursue its mission of enriching society while contributing to the preservation of the global environment. One major development that year was the acquisition of over 5% of the company's stock by Berkshire Hathaway, along with four other Japanese trading houses, over a 12-month period ending in August 2020.

Despite the challenges presented by the COVID-19 pandemic, Mitsubishi Corporation remained committed to sustainable business practices and launched several initiatives aimed at reducing its environmental footprint. For example, in September 2020, the company announced plans to construct one of Japan's largest hydrogen fuel cell systems at its headquarters in Tokyo, with the goal of reducing greenhouse gas emissions and promoting the use of renewable energy.

Mitsubishi Corporation also continued to expand its global presence, opening a new office in Vietnam in September 2020 to support the growing demand for infrastructure development in the region. The company also invested in renewable energy projects around the world, including wind farms in the Netherlands and solar power plants in Australia.

In terms of its automotive division, Mitsubishi Motors Corporation announced plans in July 2020 to focus on producing more electric and hybrid vehicles, with the goal of having electric vehicles make up 50% of its sales by 2030. The company also partnered with Nissan and Renault to share technology and development costs for new models.

Looking ahead, Mitsubishi Corporation remains committed to its mission of contributing to society while preserving the environment, and will likely continue to invest in sustainable businesses and technologies as part of its long-term strategy.

According to Mitsubishi Corporation, the company mission is: “to enrich society, both materially and spiritually, while contributing towards the preservation of the global environment".

Mitsubishi Corporation's mission statement reflects the company's commitment to sustainability and social responsibility. The company aims to create economic value while also contributing to the betterment of society and the protection of the environment. This mission is reflected in the various business activities and initiatives undertaken by Mitsubishi Corporation.

One of the key ways Mitsubishi Corporation contributes to the preservation of the global environment is through its "Green Initiatives" program. This program focuses on reducing environmental impacts and promoting sustainable practices across the company's operations. As part of this initiative, Mitsubishi Corporation has set ambitious targets to reduce its greenhouse gas emissions, increase its use of renewable energy, and promote resource efficiency.

In addition to its environmental initiatives, Mitsubishi Corporation also contributes to society through various social programs and community engagement activities. These include supporting disaster relief efforts, promoting education and cultural exchange, and contributing to community development projects. The company also supports employee volunteerism, encouraging its staff to get involved in social and environmental initiatives.

Mitsubishi Corporation's vision is centred around creating innovative solutions that have a positive impact on society and the environment. The company aims to achieve this through its core values of Sustainability, Health and Comfort.

Sustainability is a crucial part of Mitsubishi's vision, and the company is committed to addressing global issues such as climate change and resource depletion. As a global corporation, Mitsubishi believes that it has a responsibility to contribute to the preservation of the planet and the well-being of its inhabitants. To achieve this goal, the company is focused on developing and promoting sustainable technologies and practices.

Health and Comfort are also key values for Mitsubishi Corporation. The company recognizes that people's well-being is essential for a sustainable future and aims to create products and services that enhance the quality of life. This includes everything from energy-efficient home appliances to innovative healthcare solutions.

By combining its core values of Sustainability, Health, and Comfort, Mitsubishi Corporation aims to create a better future for all.

Energy: exploration, production, and trading of oil and gas, as well as the development of renewable energy sources such as wind and solar power.

Metals: production and distribution of non-ferrous and precious metals, as well as steel and other industrial products.

Machinery: production and sale of construction, mining, and agricultural machinery, as well as machine tools and industrial machinery.

Chemicals: production and distribution of basic and fine chemicals, as well as plastics and fertilizers.

Living Essentials: production and sale of consumer products such as food, beverages, and personal care products.

Automotive: production and sale of vehicles, including passenger cars, commercial trucks, and buses.

Logistics: provision of logistics services, including transportation, warehousing, and freight forwarding.

Infrastructure: development and management of infrastructure projects such as airports, ports, and power plants.

Financial Services: provision of financial services, including leasing, financing, and insurance.