Mitsubishi Corporation

Since 1954 vol.3 Mitsubishi Shoji Strives to Expand Exports & Target Large Projects Reflecting Tradition of Tackling Big Challenges

Our Roots A history of rising to the challenge

vol.3 Mitsubishi Shoji Strives to Expand Exports & Target Large Projects Reflecting Tradition of Tackling Big Challenges

We look back on various business activities that were promoted during the tenure of President Katsujiro Takagaki.

Showa Yokkaichi SekiyuThe Atacama Mine in Chile

In the mid to late 1950s, the foundations of the Japanese economy were strengthened as the nation enjoyed a period of strong economic growth. During this time, Mitsubishi Shoji unveiled a policy for bolstering exports. The company's business division sought to foster export-oriented projects while incorporating various organizational reforms, including the establishment of export departments.

Noteworthy developments during this period include the dramatic growth of ship exports, bolstered by Japan's strong technical capabilities and a shipbuilding boom, driven by expanding global trade. In 1956, ship exports from Japan tripled, generating export value of approximately 260 million dollars, with roughly 30% of this total being attributable to MC. The company also exported canned goods, such as salmon and other seafood as well as fruit. Export business with the U.S. and Britain flourished and trade with these two countries accounted for 90% of MC's canned crab exports.

Various large-scale projects were also launched during this period. One example is Showa Yokkaichi Sekiyu, which was established by companies of the Mitsubishi Group in 1957 together with Shell and the Showa Sekiyu Group. This was a truly groundbreaking project—Mitsubishi Shoji not only secured rights to import crude oil for refining, but it also became the first Japanese shosha to establish a foothold in the field of primary distribution.

Mitsubishi Shoji also set out to develop mining projects. It teamed up with Mitsubishi Mining (today's Mitsubishi Materials) to invest in the Atacama Mine in Chile, with plans for developing the mine being finalized in 1958. This was the first time for Mitsubishi Shoji to become deeply involved in an overseas mining venture. The project helped the company to acquire resources while contributing to economic development in Chile.

The chemicals business also thrived during the tenure of President Takagaki. The export department was launched in 1957, after the establishment of the petrochemicals department in 1955. When Mitsubishi Petrochemical (today's Mitsubishi Chemical) was launched in 1956, Mitsubishi Shoji transferred a number of employees to the new company; it actively provided assistance in other ways too, such as by supporting market research and imports of raw materials. In this way, Mitsubishi Shoji helped to lay the foundations for its current chemicals business.

 

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