History of Mitsubishi Company started when the Mitsubishi company was established by Yataro Iwasaki (1834-1885) in 1870 as a shipping firm under the name Tsukumo Shokai in Japan. Then in 1873, the name was changed to Mitsubishi Shokai.

Originally conducted business as a shipping and trading company, Iwasaki led the company for diversification such as mining industry early in its history. They introduced modern technology and became one of Japan’s highest copper producers.

The name Mitsubishi consists of two parts : mitsu meaning three and hishi/bishi meaning water caltrop. Translated as “three diamonds”.

When Yataro Iwasaki died in 1885, his younger brother, Yanosuke Iwasaki took over his position and became the second president of Mitsubishi. Yanosuke had brief education in United States before, which would influence his actions in making decisions.

In 1893, Yanosuke stepped down as president in order to fulfill a promise to his older brother. His nephew, Hisaya then took the lead of the company into the next century. In 1908, Hisaya introduced a new management system into Mitsubishi. It was very much like today’s system of operational divisions.

Hisaya stepped down as president and passed the torch of leadership to his cousin Koyata Iwasaki in 1916. After the World War II era, Koyata had to work very hard. As the fourth president he had duty to ensure business partners around the world that Mitsubishi company never engaged in dishonorable business activities.