Sumitomo Group
Industry | Conglomerate |
---|---|
Founded | 1615 |
Headquarters | Tokyo, Japan |
Products | Current or former Sumitomo Group members |
Website | Sumitomo Group Public Affairs Committee |
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 shares in each other, but they are limited to exchanging information and coordinating plans through regular meetings.
History
The Sumitomo Group traces its roots to a bookshop in
The smelting and smithing business was moved from Kyoto to
The Meiji Restoration allowed Sumitomo to import and utilize Western machines and techniques in its mines.[6] Sumitomo soon branched out into even more business areas entering the machine and coal industries, as well as the forestry, banking and warehousing businesses[6] becoming a zaibatsu,[3] or business conglomerate.
After World War II, the Japanese zaibatsu conglomerates, including Sumitomo, were dissolved by the GHQ and the Japanese government. The group reformed as a keiretsu, a group of independent companies organized around The Sumitomo Bank (now Sumitomo Mitsui Banking Corporation) and bound together by cross shareholding.
Many companies continue to use the word Sumitomo in their corporate names. Most of them are managed independently and listed at Tokyo Stock Exchange (TSE) and other stock exchanges with highly dispersed shareholders. For some, the name only shows their historic origin, and they are no longer considered part of the Sumitomo Group.
In 1982, Sumitomo reported an energy conservation program.[9]
Emblem
The diamond-shaped igeta mark is reminiscent of a type of frame placed over a well in premodern Japan and was the logo of Riemon Soga's Izumiya company.[1]
Current or former Sumitomo Group members
Company | Industry |
---|---|
Mazda Motor Corporation | Automobiles
|
Mitsui Sumitomo Insurance | Insurance |
NEC Corporation *
|
Electronics and electric products |
Nippon Sheet Glass Co Ltd | Glass |
Osaka Titanium Technologies Co Ltd | Titanium products |
Sumisho Computer Systems[10] | Information Technology
|
Sumitomo Bakelite Co., Ltd. | Chemicals |
Sumitomo Chemical* | Chemicals |
Sumitomo Corporation* | Integrated trading |
Sumitomo Electric Bordnetze | Auto parts suppliers |
Sumitomo Electric Industries, Ltd. *
|
Electronics and electric products |
Sumitomo Forestry Co., Ltd. | housing
|
Sumitomo Heavy Industries* | Machinery, weaponry, and shipbuilding |
Sumitomo Life | Insurance |
Nippon Steel* | Steel |
Sumitomo Metal Mining Co., Ltd.* | Non-ferrous metal |
Sumitomo Mitsui Financial Group *
|
Finance |
Sumitomo Mitsui Construction | Construction |
Sumitomo Mitsui Trust Holdings* | Finance |
Sumitomo Osaka Cement* | Cement |
Sumitomo Precision Products | Precision machinery |
Sumitomo Realty & Development* | Real estate |
Sumitomo Riko | Rubber materials for vehicles, printers and constructions |
Sumitomo Rubber Industries | rubber products
|
The Sumitomo Warehouse Co., Ltd. | Warehousing
|
* Nikkei 225 constituent company.
References
- ^ a b c d e f "Company History". sumitomocorp.co.jp. Sumitomo Corporation.
- ^ "Sumitomo in History, part I: A Business Spirit Alive and Well After 400 Years, A Meeting with Copper". sumitomo.gr.jp. Sumitomo Group.
- ^ a b "Sumitomo Group". Encyclopædia Britannica – via britannica.com.
- ^ a b "Sumitomo in History, part II: Japanese Copper Across the Sea, Contributing to the Wealth of the Nation". sumitomo.gr.jp. Sumitomo Group.
- ^ "Sumitomo in History, part III: Japan's Kitchen, New Businesses Emerge". sumitomo.gr.jp. Sumitomo Group.
- ^ a b c "About Us". sumitomocorp.co.jp. Sumitomo Corporation.
- ^ "Sumitomo in History, part IV: Milestones, Major Copper Vein Discovered". sumitomo.gr.jp. Sumitomo Group.
- ^ "Sumitomo in History, part VI: A Time of Adversity, The End of Rule by the Samurai". sumitomo.gr.jp. Sumitomo Group.
- ^ Yamamoto, T.; Yamamori, K. (1982-01-01). "Sumitomo Metal Industries' energy conservation program". Sumitomo Kinzoku; (Japan) (in Japanese). 34:3.
- ^ "Corporate History - Sumisho Computer Systems Corporation". Scs.co.jp. Retrieved 2010-09-19.
External links
- (in English) Sumitomo Group Public Affairs Committee
- (in English) Company profile and the origins of Sumitomo Official Sumitomo Site
- (in English) Sumitomo Corporation website: historical information