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Sumitomo Group

There are many corporate groups which used to belong to the Sumitomo Clan and have "Sumitomo" in their corporate.

Sumitomo Clan is one of the largest Japanese keiretsu, founded by Masatomo Sumitomo.

Contents

  • History 1
    • Emblem 1.1
  • Companies Using Sumitomo's name 2
    • The Companies Using Sumitomo's name which are in the Nikkei 225 2.1
  • References 3
  • External links 4

History

Igeta mark
Igeta mark

The Sumitomo Clan traces its roots to a bookshop in Kyoto founded circa 1615 by a former buddhist priest, Masatomo Sumitomo.[1] Considered its spiritual founder, even today management of the group is guided by his "Founder's Precepts", written in the 17th century.[1]

It was copper that made the company famous. Riemon Soga, Masatomo Sumitomo's brother-in-law, learned Western methods of copper refining. In 1590 he established a smelting business named Izumiya, literally meaning "spring shop".[1] The advanced techniques, which Riemon perfected, allowed the extraction of silver from copper ore, something which Japanese technology had as yet been unable to accomplish.[1]

The smelting and smithing business, which was begun in Kyoto, was moved to Osaka by the late 17th century.[1] and Soga passed control of the company to his son Tomomochi who managed its transformation into a major trading house[2] during the Edo period[3] Sumitomo began to export copper,[4] import silk,[4] and provide financial services.[5] By 1691 copper mining had been added to the portfolio.[6][7][8]

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.

In 1940's after World War II, almost all clan including the Sumitomo Clan were dissolved by GHQ & Japanese government.

As a result, although there are many companies still using a common word "Sumitomo" in their corporate names, the companies are managed independently listed on Tokyo and other stock exchanges with highly dispersed shareholders. Therefore, there are no relationships among the companies using Sumitomo's name (the companies are not in one group).

The companies using Sumitomo’s name together with KDDI signed an agreement with State owned Myanma Posts and Telecommunications (MPT) in July 2014 to jointly operate a mobile phone service in Burma for the next 10 years.[9] [10]

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]

Companies Using Sumitomo's name

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[11] 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. Lumber and housing
Sumitomo Heavy Industries Machinery, weaponry, and shipbuilding
Sumitomo Life Insurance
Sumitomo Metal Industries Steel
Sumitomo Metal Mining Co., Ltd. Non-ferrous metal
Sumitomo Mitsui Banking Corporation Finance
Sumitomo Mitsui Construction Co., Ltd. Construction
Sumitomo Mitsui Trust Holdings Finance
Sumitomo Osaka Cement Cement
Sumitomo Precision Products Precision machinery
Sumitomo Realty & Development Co., Ltd. Real estate
Sumitomo Riko Rubber materials for vehicles, printers and constructions
Sumitomo Rubber Industries Tires and rubber products
The Sumitomo Warehouse Co., Ltd. Warehousing

The Companies Using Sumitomo's name which are in the Nikkei 225

References

  1. ^ a b c d e f Company History Sumitomo Electric
  2. ^ Sumitomo in History, part I: A Business Spirit Alive and Well After 400 Years, A Meeting with Copper Sumitomo Official Site
  3. ^ a b Sumitomo Group, Encyclopædia Britannica article britannica.com
  4. ^ a b Sumitomo in History, part II: Japanese Copper Across the Sea, Contributing to the Wealth of the Nation Sumitomo Official Site
  5. ^ Sumitomo in History, part III: Japan's Kitchen, New Businesses Emerge Sumitomo Official Site
  6. ^ a b c About Us Sumitomo Corporation Official Site
  7. ^ Sumitomo in History, part IV: Milestones, Major Copper Vein Discovered Sumitomo Official Site
  8. ^ Sumitomo in History, part VI: A Time of Adversity, The End of Rule by the Samurai Sumitomo Official Site
  9. ^
  10. ^
  11. ^

External links

  • (English) Sumitomo Group Public Affairs Committee
  • (English) Company profile and the origins of Sumitomo Official Sumitomo Site
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