In Japan, where emperors are held in divine esteem, one family’s influence has been so monumental that it challenges the very bedrock of imperial power. Meet the Mitsui family, a dynasty whose story is not a chapter in a history book but a living narrative that continues to shape Japan. Their extraordinary legacy? It prompts a question that’s as intriguing as it is audacious: Could the Mitsuis actually be wealthier than the emperors they’ve historically served?
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The Humble Beginnings
The story of the Mitsui family starts with a bang! Picture this: Mitsui Echigonokami Takayasu, a samurai commander in Namazue, Shiga Prefecture, loses a battle against Nobunaga Oda in 1568. His lord is defeated, and he becomes a ‘ronin,’ a samurai without a lord. What’s a samurai to do when he’s lost it all? Takayasu made a daring move. He relocated to what is now known as Ise, in Mie Prefecture. It was a fresh start, a new chapter. Then, in 1622, His grandson, Takatoshi, was born in Matsusaka. Takatoshi, as an adult, moved to Edo (now Tokyo) to help his brother’s work. But then, in a twist of fate, he returned to his birthplace at the age of 28 to care for his ailing mother, Shuho. Ah, the love for a mother, a theme as old as time! In 1673, Takatoshi made another bold move. He travelled back to Edo and opened a textile store called “Echigoya,” which later became Mitsukoshi. But get this, he wasn’t just selling fabrics; he was revolutionising retail! He introduced “cash basis at fixed prices” and started selling products by the piece. In a world where haggling was the norm, this guy comes in and changes the game! Takatoshi then expanded into the financing business with the Mitsui Ryogaeten, a money exchange store. And it wasn’t just a side gig; it was a full-blown empire in the making! Are you on the edge of your seat yet? Because this is just the beginning of the Mitsui family’s rise to unimaginable heights!
The Edo Period
Now, we’ll dive deep into the Edo period, a time when the Mitsui family wasn’t just rich; they were the richest in all of Japan! How did they do it?
Well, they had a little help from their friends, or should I say, the shogunate government. That’s right, the Mitsuis had the backing of the big guns, and boy, did they use it to their advantage! Unlike other merchants who only catered to the wealthy, Takatoshi had his eyes set on the emerging middle class. He was a man of the people! His concepts were so revolutionary that they shook the very foundations of commerce at the time. In short, the Mitsuis were not just making money; they were making history! Then, in the late Edo period, their textile store, Echigoya, grew into the largest of its kind. At the same time, their money exchange store, Mitsui Ryogaeten, continued to expand. It was like they’ve got the Midas touch; everything they touch turns to gold! Around 1720, this venture was renamed Kawase Mitsui Gumi (now known as Sumitomo Mitsui Banking Corporation), and its profits started to soar, even surpassing the textile business.
So, there you have it, the early years of the Mitsui family, filled with suspense, drama, and a whole lot of money-making. And the best part? This is just the beginning!
The Meiji Era
As the Meiji Era unfolds, Japan is welcoming global influences, and the Mitsui family is at the forefront. They’re not your average wealthy clan; they’re the ultimate chameleons, adapting and thriving in any situation. They were the backbone of the early Meiji government, thanks to their long history and early accumulation of wealth. They were also supporting the Meiji revolutionaries who toppled the ancient Tokugawa military regime. Talk about playing both sides! They even supported the Manchu Dynasty in China while channelling money and arms to the democratic movement of Sun Yat-Sen.
They were so dedicated to fairness that they even subsidised an ultranationalist secret society that later assassinated their business’s “prime minister.” It’s like something out of a spy thriller! And just when you think they couldn’t get any more audacious, they go ahead and open their doors to international business. With a ready supply of cheap labour and experience in trade, Mitsui Bussan became the prototype of the large family financial cliques, or zaibatsu, that turned Japan into an industrial powerhouse.
So, what’s the secret sauce? Well, they had a family constitution, codified by Hachirobei’s son, that spread the wealth throughout the family while keeping Mitsui capital intact. It also contained a list of good business practices. Hachirobei told his progeny to “keep an eye on the young men and train promising candidates” for management positions. And they listened. They always followed the precept “never forget the kindness of the honorable men in power” with a vengeance.
Modern Times
The Mitsui family’s rollercoaster ride isn’t over yet. Now, when World War II ended, the Mitsui family was stripped of its holdings. But did they fade into obscurity? No way! They bounced back, and how! You see, the Mitsui family had always been ahead of the curve. They were the ones who taught capitalism to a reluctant Japanese aristocracy. And now, they were about to teach the world a lesson in resilience.
At the height of their power, between the two world wars, the Mitsui family was worth a staggering $450 million, and their businesses employed more than three million people. After the war, the United States occupation authorities divested the Mitsui family of its holdings. The managers who had dedicated their careers to the family’s prosperity carried on without them. And when the Korean War presented the United States with the need for an integrated Japanese economy, it was these competent men who created the new conglomerates in the image of the old zaibatsu.
One former Mitsui executive even built Toyota into the world’s third-largest automaker, while another made the Sony transistor radio a symbol of Japan. And today? The Mitsui family is still a force to be reckoned with, involved in everything from banking to real estate.
The Dark Side
Now let’s dive into the part of the Mitsui family story that they probably wish stayed buried. You know, every family has its skeletons, but the Mitsui family? They’ve got a whole crypt.
In the 1930s and 1940s, Japan had big plans for China. The Mitsui family, ever the opportunists, jumped on the bandwagon. But, they weren’t just selling goods or investing in infrastructure. No, they were producing special “Golden Bat” cigarettes. Sounds fancy, right? Now guess what? Hidden in the mouthpiece of each cigarette was a small dose of opium. Yes, you heard that right—opium! Millions of unsuspecting people in China and Manchuria got hooked, and the Mitsui family raked in profits like you wouldn’t believe.
The mastermind behind this twisted scheme, General Kenji Doihara, was tried and convicted for war crimes. But no one laid a finger on the Mitsui family. Not a single action was taken against the company that profited from this narcotization policy. It’s like they were untouchable. The revenue from this operation was estimated to be a jaw-dropping US$300 million a year. That’s not just money; that’s blood money.
Now, let’s rewind to World War II, a time when the Mitsui family’s enterprises took a dark turn. They weren’t just involved in ordinary wartime business; they stepped into an ethical abyss. Mitsui-owned coal mines and foundries used Allied prisoners of war as labour. These prisoners were held in Fukuoka #17, a camp fortified with barbed wire and wooden fences. They survived on meagre rations, enduring harsh winters without proper nourishment. After the war, the camp’s commandant was executed for war crimes, but the Mitsui family walked away untouched. They had rented these human lives from the Japanese Army for a pittance. Some prisoners left the camp with permanent physical injuries. Decades later, survivor Lester Tenney tried to sue Mitsui for acknowledgement of the suffering endured. The case was dismissed due to a peace treaty that protected Japan from private claims. It seemed as if the Mitsui family had an uncanny ability to evade legal repercussions.
The Mitsui family’s story is a rollercoaster of ups and downs, filled with suspense, drama, and a whole lot of question marks. They’ve shaped industries, set trends, and even played with the rules. But as you close this chapter, one question lingers: What’s the real price of untold wealth and power? Is it worth the shadows it casts? Think about it.
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