What is meant by the term zaibatsu?
zaibatsu, (Japanese: “wealthy clique”), any of the large capitalist enterprises of Japan before World War II, similar to cartels or trusts but usually organized around a single family. One zaibatsu might operate companies in nearly all important areas of economic activity.
How did zaibatsu rise in Japan?
After the Russo-Japanese War, a number of so-called “second-tier” zaibatsu also emerged, mostly as the result of business conglomerations and/or the award of lucrative military contracts. Some more famous second-tier zaibatsu included the Okura, Furukawa, and Nakajima groups, among several others.
What are zaibatsu quizlet?
Zaibatsu. large family-controlled banking and industrial groups that owned many companies in Japan before World War II.
What is zaibatsu and keiretsu?
Before the keiretsu system, the primary form of corporate governance in Japan was the zaibatsu, which referred to small, family-owned businesses that eventually evolved into large, monopolistic holding companies.
Who were the zaibatsu of Japan quizlet?
The 4 largest zaibatsu groups : Mitsubishi, Mitsui, Sumitomo, Yasuda accounted for about 25% all Japanese business combined holding great economic dominance in Japan. Were a small group of bureaucrats that dominated Japanese politics from the Meiji Restoration until the military coup of 1932.
Why did the zaibatsu establish holding companies?
Early in the 20th century, Japan’s zaibatsu conglomerates introduced organizational innovation to deal with the problems attendant on growth and diversification. By the early 1920s, each zaibatsu had established a holding company, while it separated its various businesses into joint-stock companies.
When was the zaibatsu established?
Zaibatsu Formation in the Meiji Era (1868–1912) Zaibatsu generally refers to the large pre–WWII clusterings of Japanese enterprises, which controlled diverse business sectors in the Japanese economy.
What were the Japanese zaibatsu and what was their influence in the Japanese economy quizlet?
Zaibatsu played an important role in the rapid industrialization of Japan from the late 19th century to the WWII. The 4 largest zaibatsu groups : Mitsubishi, Mitsui, Sumitomo, Yasuda accounted for about 25% all Japanese business combined holding great economic dominance in Japan.
Who were the zaibatsu and what did they do to influence the government and why?
The zaibatsu founders were not wealthy merchants, but samurai bureaucrats with long-established contacts in the government, which enabled them to secure lucrative monopolies, subsidies, and greatly undervalued state assets when the government sold off state industrial properties during the 1870s.