Mitsubishi Corp.

Mitsubishi Corp.

Loose consortium of independent Japanese companies. The first Mitsubishi company was a trading and shipping concern established in 1873 by Iwasaki Yataro. Several subsidiaries were created after World War I, and by the 1930s Mitsubishi was Japan's second-largest zaibatsu. During World War II it was a major military contractor, its best-known product being the Zero fighter plane. By the end of the war Mitsubishi controlled some 200 companies. The zaibatsu was broken up by U.S. occupation forces, and the stock of the subsidiary firms was sold to the public. After the occupation, the independent Mitsubishi companies began to reassociate. The group today consists of hundreds of worldwide subsidiaries and affiliates organized into several business groups such as chemicals, electronics, and machinery.