Mitsubishi Corporation

Corporate History

Corporate History

Foundation to 1970s

In 1954 the new Mitsubishi Shoji was founded, and that same year was listed on both the Tokyo and Osaka stock exchanges. In 1967, the company announced its first management plan. In 1968, the company committed to a large project in Brunei to develop LNG (liquefied natural gas). This was its first large-scale investment. Not content with mere trade-based activities, the company began expanding its development and investment-based businesses on a global scale, as evidenced by iron-ore and metallurgical coal projects in Australia and Canada, and salt field business in Mexico. In 1971, the company made “Mitsubishi Corporation” its official English name.

The 1980s

MC needed to construct new systems to generate profits. The company began streamlining its established businesses and developing more efficient operations. In 1986 the company firmly entrenched a new policy, shifting its focus from operating transactions to profits. That same year a new management plan was drawn up. In 1989, MC was listed on the London Stock Exchange.

The 1990s

In 1992, MC announced a new management policy, namely to reinvent the company as a “Sound, Global Enterprise.” MC began placing greater focus on its consolidated operations and increasing the value of its assets. More efforts were made to globalize the company's operations and its people. In 1998, MC established “MC2000” which introduced a “Select & Focus” approach to business, strengthened strategic fields, and emphasized customer-oriented policies. The new plan was instrumental in shoring up the company's foundations and paving the way to a prosperous future.

The 2000s

In 2001, MC introduced “MC2003”, an aggressive new blueprint for growth, involving an expansion of the company's value chains, a strengthening of its profitability, and focused strategies to create new businesses. In 2004, “INNOVATION 2007” was unveiled which sought to establish MC as a “New Industry Innovator,” with an aim to open up a new era and grow hand in hand with society. In 2007, MC newly established the Business Innovation Group and Industrial Finance, Logistics & Development Group. Then, in 2008, MC announced its management plan, “INNOVATION 2009.” In 2009, MC systematically reorganized the Business Innovation Group and established its Corporate Development Section.

The 2010s

In April, 2010, MC reorganized and enhanced this section through the establishment of two new Groups, the Global Environment Business Development Group and Business Service Group. In July 2010, MC announced a new management plan, “Midterm Corporate Strategy 2012,” which sought to strengthen our management platform based on the diversification of business models. A new corporate strategy, “New Strategic Direction – Charting a new path toward sustainable growth” was released in May 2013, and outlined an image of the MC Group circa 2020 in which we reinforce our portfolio by increasing earnings from non-resource businesses. Midterm Corporate Strategy 2018 was released in May 2016.

Our Roots - A history of rising to the challenge - MC has a long history of rising to the challenge. Here, we highlight the origins of our pioneering spirit through accounts of Mitsubishi founder Yataro Iwasaki and other members of the Iwasaki family, while also taking a look back over history starting from 1954, when today's MC was first established.