MITSUBISHI MOTORS
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Mitsubishi Motors is part of the Mitsubishi Group, one of the largest companies in Japan. It is actually a grouping of 160 companies with interlocking stockholdings and is the largest keiretsu (industrial group) in Japan. There are three core companies--the Mitsubishi Bank, Mitsubishi Corporation (trading), and Mitsubishi Heavy Industries (heavy machinery). There are other important group companies as well, including Mitsubishi Electric and Mitsubishi Motors. The activities of the different companies are coordinated, and leaders of the 29 most important companies in the group meet once a month in Tokyo to exchange information and discuss business and joint projects. The group joined in 1990 in talks with Daimler-Benz of Germany concerning cooperative ventures, including some that would give Mitsubishi greater access to European markets. Mitsubishi, which in Japanese means "three diamonds," was founded in 1870 as a shipping and trading company. It soon diversified into other areas--mining, banking, and shipbuilding--and would withdraw from shipping in the 1880s in favor of these other businesses. In the 1890s Mitsubishi became a leading investor in Japanese railroads and real estate. In 1918 the Mitsubishi zaibatsu (or family-controlled conglomerate) spun off its trading businesses in 1918 to form Mitsubishi Trading, the group's purchasing, sales, and central management arm. by World War II, the zaibatsu had bec
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bstantial overcapacity exists throughout the world.
The Mitsubishi relationship with Chrysler had its ups and downs, but overall the association with Chrysler may have stunted Mitsubishi's growth in the U.S. market. By the late 1980s, however, Chrysler was healthy once more and Mitsubishi was approaching a period of independence. Mitsubishi Motor Sales of America sold in the 1980s about 55,000 cars and about 45,000 trucks a year, but this was expected to increase dramatically when Diamond-Star Motors started production in a new factory in Bloomington, Illinois, a plant that could turn out 240,000 units a year, with half to be sold by Chrysler and half by Mitsubishi. Mitsubishi was also marketing the Hyundai from Hyundai Motors of South Korea. Hyundai had also started supplying transmission components and other parts to its partner in Japan, and Mitsubishi owned a piece of Hyundai, much as Chrysler owned a piece of Mitsubishi (Tanzer, 1987, 104).
By the end of the 1980s, Mitsubishi was engaged in a competitive battle with Honda and Mazda to maintain its third-place position among Japanese automakers. Mitsubishi was then marketing the Lettuce, a car sold only in Japan that was essentially a motorized box with two front door
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Approximate Word count = 1955
Approximate Pages = 8 (250 words per page)
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