Template:Short description Template:Primary sources Template:Distinguish {{#invoke:Infobox|infobox}}Template:Template otherTemplate:Main other{{#invoke:Check for clobbered parameters|check|nested=1|template=Infobox company|cat=Template:Main other|name; company_name|logo; company_logo|logo_alt; alt|trade_name; trading_name|former_names; former_name|type; company_type|predecessors; predecessor|successors; successor|foundation; founded|founders; founder|defunct; dissolved|hq_location; location|hq_location_city; location_city|hq_location_country; location_country|num_locations; locations|areas_served; area_served|net_income; profit|net_income_year; profit_year|owners; owner |homepage; website }}{{#invoke:Check for unknown parameters|check|unknown=Template:Main other|preview=Page using Template:Infobox company with unknown parameter "_VALUE_" | ignoreblank=y | alt | area_served | areas_served | assets | assets_year | aum | brands | company_logo | company_name | company_type | defunct | dissolved | divisions | embed | equity | equity_year | fate | footnotes | former_name | former_names | foundation | founded | founder | founders | genre | homepage | hq_location | hq_location_city | hq_location_country | incorporated | image | image_alt | image_caption | image_size | image_upright | income_year | industry | ISIN | key_people | location | location_city | location_country | locations | logo | logo_alt | logo_caption | logo_class | logo_size | logo_upright | members | members_year | module | name | native_name | native_name_lang | net_income | net_income_year | num_employees | num_employees_year | num_locations | num_locations_year | operating_income | owner | owners | parent | predecessor | predecessors | production | production_year | products | profit | profit_year | rating | ratio | revenue | revenue_year | romanized_name | services | subsid | successor | successors | traded_as | trade_name | trading_name | type | website| qid | fetchwikidata | suppressfields | noicon | nocat | demo | categories }} The Template:Nihongo is a Japanese corporate group and keiretsu that traces its roots to the zaibatsu groups that were dissolved after World War II. Unlike the zaibatsu of the pre-war period, there is no controlling company with regulatory power. Instead, the companies in the group hold shares in each other, but they are limited to exchanging information and coordinating plans through regular meetings.
HistoryEdit
The Sumitomo Group traces its roots to a bookshop in Kyoto founded circa 1615 by Masatomo Sumitomo, a former Buddhist monk.<ref name="about">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Even today, management of the group is guided by his "Founder's Precepts", written in the 17th century.<ref name="about"/>
Copper refining 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, Izumiya, literally meaning "spring shop".<ref name="about"/> Riemon perfected techniques that allowed the extraction of silver from copper ore, something Japanese technology had not previously accomplished.<ref name="about"/>
The smelting and smithing business was moved from Kyoto to Osaka by the late 17th century.<ref name="about"/> Soga passed control of the company to his son Tomomochi who managed its transformation into a major trading house<ref name="meet">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> during the Edo period.<ref name= "brit"/> Sumitomo began to export copper,<ref name="silk">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> import silk,<ref name="silk"/> and provide financial services.<ref name= kitchen>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> By 1691, copper mining had been added to the portfolio.<ref name= "ab1">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
The Meiji Restoration allowed Sumitomo to import and utilize Western machines and techniques in its mines.<ref name="ab1"/> Sumitomo soon branched out into even more business areas entering the machine and coal industries, as well as the forestry, banking and warehousing businesses<ref name="ab1"/> becoming a zaibatsu,<ref name="brit">Template:Cite encyclopedia</ref> or business conglomerate.
After World War II, the Japanese zaibatsu conglomerates, including Sumitomo, were dissolved by the GHQ and the Japanese government. The group reformed as a keiretsu, a group of independent companies organized around The Sumitomo Bank (now Sumitomo Mitsui Banking Corporation) and bound together by cross shareholding.
Many companies continue to use the word Sumitomo in their corporate names. Most of them are managed independently and listed at Tokyo Stock Exchange (TSE) and other stock exchanges with highly dispersed shareholders. For some, the name only shows their historic origin, and they are no longer considered part of the Sumitomo Group.
In 1982, Sumitomo reported an energy conservation program.<ref>Template:Cite journal</ref>
EmblemEdit
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.<ref name="about"/>
Current or former Sumitomo Group membersEdit
* Nikkei 225 constituent company.
ReferencesEdit
External linksEdit
- Template:In lang Sumitomo Group Public Affairs Committee
- Template:In lang Company profile and the origins of Sumitomo Official Sumitomo Site
- Template:In lang Sumitomo Corporation website: historical information
Template:Sumitomo Group Template:Keiretsu Template:Authority control