The 6 Major Post-War "Keiretsu"
|
| Name |
Bank |
Major group companies |
|
| Mitsubishi |
Mitsubishi Bank (until 1996)
Bank of Tokyo-Mitsubishi (1996-2005)
Bank of Tokyo-Mitsubishi UFJ (2006-)
|
Mitsubishi Corporation, Kirin Brewery, Mitsubishi Electric,
Mitsubishi Fuso, Mitsubishi Motors, Nippon Yusen, Nippon
Oil, Tokio Marine and Fire Insurance, Nikon
|
|
| Mitsui |
Mitsui Bank (until 1990)
Sakura Bank (1990-2001)
Sumitomo Mitsui Bank (2001-)
|
Fuji Photo Film, Mitsui Real Estate, Mitsukoshi, Suntory,
Toshiba, Toyota
|
|
| Sumitomo |
Sumitomo Bank (until 2001)
Sumitomo Mitsui Bank (2001-)
|
Asahi Breweries, Hanshin Railway, Keihan Railway, Mazda,
Nankai Railway, NEC, Sumitomo Real Estate
|
|
| Fuyo |
Fuji Bank (until 2000)
Mizuho Bank (2000-)
|
Canon, Hitachi, Marubeni, Matsuya, Nissan, Ricoh, Tobu
Railway, Yamaha
|
|
| Dai-Ichi Kangyo |
Dai-Ichi Kangyo Bank (until 2000)
Mizuho Bank (2000-)
|
Fujitsu, Hitachi, Isuzu, Itochu, Tokyo Electric Power
|
|
| Sanwa ("Midorikai") |
Sanwa Bank (until 2002)
UFJ Bank (2002-2006)
Bank of Tokyo-Mitsubishi UFJ (2006-)
|
Hankyu Railway, Keisei Railway, Kobe Steel, Konica Minolta,
Kyocera, Orix, Shin-Maywa, Takashimaya, Toho
|
|
|
Death of the Keiretsu and the 'Lost Decade'
|
Keiretsu had at its core:
- Access to a strong centralized source of funding;
- Major cross-holdings among member companies;
- Preferential treatment within the group for sourcing.
However:
- The central funding source was dependent upon collateral
- values to sustain its funding capability and needs.
When the asset price bubble burst:
- Collateral values shrank;
- Funding capacity dried up;
- Economic activity slumped;
- Cross-holdings were unwound.
|
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