Eiichi Shibusawa
Encyclopedia
was a Japan
ese industrialist widely known today as the "father of Japanese capitalism". He spearheaded the introduction of Western capitalism to Japan after the Meiji Restoration
. He introduced many reforms including use of double entry accounting, joint stock corporations and modern note-issuing banks.
He founded the first modern bank based on joint stock ownership in Japan. The bank was aptly named The First National Bank (Dai Ichi Kokuritsu Ginkō, now merged into Mizuho Bank
) and had the power to issue its own notes. Through this bank, he founded hundreds of other joint stock corporations in Japan. Many of these companies still survive to this day as quoted companies in the Tokyo Stock Exchange
, which Shibusawa also founded. The Japan Chamber of Commerce and Industry was founded by him as well. He was also involved in the foundation of many hospitals, schools, universities (including the first women's university), the Imperial Hotel in Tokyo and charitable organizations including the Japan Red Cross.
Another notable aspect of Shibusawa's career is that, despite being the founder of hundreds of corporations, he refused to maintain a controlling stake in these corporations, effectively preventing himself from forming a zaibatsu
. What is known as the Shibusawa zaibatsu was a holding company to look after his estate for his family. The Shibusawa Zaibatsu did not hold any controlling stake in any companies. Despite his lowly origin as a farmer, he was granted the title of Viscount
, while all other zaibatsu founders were awarded the title of Baron. He was also awarded Shōnii, Second Honour under the ritsuryō
rank system, which is usually given to high ranking nobility and prime ministers.
, Saitama prefecture). As a boy, he learned reading and writing from his father. He grew up helping with the family business of dry field farming, indigo production and sale, and silk raising and later studied the Confucian
classics and the history of Japan
under Odaka Junchu, a scholar who was his cousin.
Under the influence of sonnō jōi
(expel the barbarians; revere the emperor) sentiment, he formulated a plan along with cousins and friends to capture Takasaki Castle and set fires in the foreign settlement in Yokohama
. Ultimately, however, this plan was canceled and he moved on to Kyoto
.
Shibusawa left his hometown at the age of twenty-three, and entered the service of Hitotsubashi Yoshinobu
(then in line for the position of shogun
). He distinguished himself by his work in strengthening the household finances of the Hitotsubashi family.
When he was twenty-seven years old, he visited France
and other Europe
an countries as a member of Tokugawa Akitake
's Delegation to the Paris World Exposition. In this trip Shibusawa observed modern European societies and cultures for the first time, and realized the importance of industrial and economic development.
After returning from Europe at the news of the change of governments now known as the Meiji Restoration, he established the Shōhō Kaishō, one of the first joint stock companies in Japan, in Shizuoka prefecture
. Afterwards, he was invited by the Meiji government to become a member of the Ministry of Finance
, where he became a driving force in the building of a modern Japan as head of the Kaisei Kakari, or office of the Ministry of Finance in charge of reform.
In 1873 Shibusawa resigned from the Ministry of Finance and became the president of the Dai-Ichi Kokuritsu Ginkō
(lit. "First National Bank"). This was Japan's first modern bank
, established under his own guidance while still employed by the Ministry of Finance. With this bank as a base, Shibusawa devoted himself to founding and encouraging businesses of all sorts.
Shibusawa was an advocate throughout his life of the idea that good ethics and business should be in harmony. The number of enterprises in which he was involved as founder or supporter is said to exceed 500, and includes Mizuho Financial Group
, Tokio Marine & Nichido Fire Insurance Co.
, Imperial Hotel
, Keihan Electric Railway
, Taiheiyo Cement
, Sapporo Breweries
, and NYK Line. Moreover, he spearheaded many works for the betterment of society, and was an enthusiastic supporter of education, especially higher education in the field of business such as current Hitotsubashi University
and current Tokyo Keizai University
, higher education for women, and private school
s. Shibusawa involved himself in some 600 projects related to education, social welfare, and others.
In addition, Shibusawa made efforts to promote exchange of goods and goodwill across national boundaries through private-sector diplomacy. Numerous guests from overseas visited the Shibusawa residence in Asukayama, where they talked candidly with him.
Having lived through a time of great change and having stood personally in the vanguard of change in a new era, Shibusawa died at the age of ninety-one on November 11, 1931.
, plays a major role in the fantasy/historical fiction novel Teito Monogatari
, by Aramata Hiroshi
. In the 1988 live-action adaptation of Teito Monogatari (known in the west as Tokyo: The Last Megalopolis
), Shibusawa is portrayed by the renowned Japanese actor Katsu Shintarō
of Zatoichi
fame.
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
ese industrialist widely known today as the "father of Japanese capitalism". He spearheaded the introduction of Western capitalism to Japan after the Meiji Restoration
Meiji Restoration
The , also known as the Meiji Ishin, Revolution, Reform or Renewal, was a chain of events that restored imperial rule to Japan in 1868...
. He introduced many reforms including use of double entry accounting, joint stock corporations and modern note-issuing banks.
He founded the first modern bank based on joint stock ownership in Japan. The bank was aptly named The First National Bank (Dai Ichi Kokuritsu Ginkō, now merged into Mizuho Bank
Mizuho Bank
is the core retail banking unit of Mizuho Financial Group, which is the second-largest financial services company in Japan and one of the three so-called Japanese "megabanks"...
) and had the power to issue its own notes. Through this bank, he founded hundreds of other joint stock corporations in Japan. Many of these companies still survive to this day as quoted companies in the Tokyo Stock Exchange
Tokyo Stock Exchange
The , called or TSE for short, is located in Tokyo, Japan and is the third largest stock exchange in the world by aggregate market capitalization of its listed companies...
, which Shibusawa also founded. The Japan Chamber of Commerce and Industry was founded by him as well. He was also involved in the foundation of many hospitals, schools, universities (including the first women's university), the Imperial Hotel in Tokyo and charitable organizations including the Japan Red Cross.
Another notable aspect of Shibusawa's career is that, despite being the founder of hundreds of corporations, he refused to maintain a controlling stake in these corporations, effectively preventing himself from forming a zaibatsu
Zaibatsu
is a Japanese term referring to industrial and financial business conglomerates in the Empire of Japan, whose influence and size allowed for control over significant parts of the Japanese economy from the Meiji period until the end of World War II.-Terminology:...
. What is known as the Shibusawa zaibatsu was a holding company to look after his estate for his family. The Shibusawa Zaibatsu did not hold any controlling stake in any companies. Despite his lowly origin as a farmer, he was granted the title of Viscount
Kazoku
The was the hereditary peerage of the Empire of Japan that existed between 1869 and 1947.-Origins:Following the Meiji Restoration of 1868, the ancient court nobility of Kyoto regained some of its lost status...
, while all other zaibatsu founders were awarded the title of Baron. He was also awarded Shōnii, Second Honour under the ritsuryō
Ritsuryo
is the historical law system based on the philosophies of Confucianism and Chinese Legalism in Japan. The political system in accord to Ritsuryō is called "Ritsuryō-sei"...
rank system, which is usually given to high ranking nobility and prime ministers.
Life
Shibusawa was born on March 16, 1840 in a farmhouse in Chiaraijima (located in the present-day city of FukayaFukaya, Saitama
is a city located in the north of Saitama Prefecture, Japan. In the Edo era, it was an inn-town on the Nakasendō , and grew during this period. It is in the prefecture's leading agricultural area, and claim's to be the biggest producer of leeks in Japan. Fukaya negi are famous. Shibusawa Eiichi,...
, Saitama prefecture). As a boy, he learned reading and writing from his father. He grew up helping with the family business of dry field farming, indigo production and sale, and silk raising and later studied the Confucian
Confucianism
Confucianism is a Chinese ethical and philosophical system developed from the teachings of the Chinese philosopher Confucius . Confucianism originated as an "ethical-sociopolitical teaching" during the Spring and Autumn Period, but later developed metaphysical and cosmological elements in the Han...
classics and the history of Japan
History of Japan
The history of Japan encompasses the history of the islands of Japan and the Japanese people, spanning the ancient history of the region to the modern history of Japan as a nation state. Following the last ice age, around 12,000 BC, the rich ecosystem of the Japanese Archipelago fostered human...
under Odaka Junchu, a scholar who was his cousin.
Under the influence of sonnō jōi
Sonno joi
is a Japanese political philosophy and a social movement derived from Neo-Confucianism; it became a political slogan in the 1850s and 1860s in the movement to overthrow the Tokugawa bakufu, during the Bakumatsu period.-Origin:...
(expel the barbarians; revere the emperor) sentiment, he formulated a plan along with cousins and friends to capture Takasaki Castle and set fires in the foreign settlement in Yokohama
Yokohama
is the capital city of Kanagawa Prefecture and the second largest city in Japan by population after Tokyo and most populous municipality of Japan. It lies on Tokyo Bay, south of Tokyo, in the Kantō region of the main island of Honshu...
. Ultimately, however, this plan was canceled and he moved on to Kyoto
Kyoto
is a city in the central part of the island of Honshū, Japan. It has a population close to 1.5 million. Formerly the imperial capital of Japan, it is now the capital of Kyoto Prefecture, as well as a major part of the Osaka-Kobe-Kyoto metropolitan area.-History:...
.
Shibusawa left his hometown at the age of twenty-three, and entered the service of Hitotsubashi Yoshinobu
Tokugawa Yoshinobu
was the 15th and last shogun of the Tokugawa shogunate of Japan. He was part of a movement which aimed to reform the aging shogunate, but was ultimately unsuccessful...
(then in line for the position of shogun
Shogun
A was one of the hereditary military dictators of Japan from 1192 to 1867. In this period, the shoguns, or their shikken regents , were the de facto rulers of Japan though they were nominally appointed by the emperor...
). He distinguished himself by his work in strengthening the household finances of the Hitotsubashi family.
When he was twenty-seven years old, he visited France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
and other Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
an countries as a member of Tokugawa Akitake
Tokugawa Akitake
was a younger brother of the Japanese Shogun Tokugawa Yoshinobu. He was born in Komagome, Tokyo, as the 18th son of Tokugawa Nariaki. Initially lord of Aizu, he became lord of Shimizu before his departure for France.-Biography:...
's Delegation to the Paris World Exposition. In this trip Shibusawa observed modern European societies and cultures for the first time, and realized the importance of industrial and economic development.
After returning from Europe at the news of the change of governments now known as the Meiji Restoration, he established the Shōhō Kaishō, one of the first joint stock companies in Japan, in Shizuoka prefecture
Shizuoka Prefecture
is a prefecture of Japan located in the Chūbu region on Honshu island. The capital is the city of Shizuoka.- History :Shizuoka prefecture was formed from the former Tōtōmi, Suruga and Izu provinces.The area was the home of the first Tokugawa Shogun...
. Afterwards, he was invited by the Meiji government to become a member of the Ministry of Finance
Ministry of Finance (Japan)
The ' is one of cabinet-level ministries of the Japanese government. The ministry was once named Ōkura-shō . The Ministry is headed by the Minister of Finance , who is a member of the Cabinet and is typically chosen from members of the Diet by the Prime Minister.The Ministry's origin was back in...
, where he became a driving force in the building of a modern Japan as head of the Kaisei Kakari, or office of the Ministry of Finance in charge of reform.
In 1873 Shibusawa resigned from the Ministry of Finance and became the president of the Dai-Ichi Kokuritsu Ginkō
Dai-Ichi Kangyo Bank
The , abbreviated as , was one of the largest banks in the world during the latter half of the 20th century. It combined with Fuji Bank and the Industrial Bank of Japan in 2000 to form Mizuho Financial Group....
(lit. "First National Bank"). This was Japan's first modern bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
, established under his own guidance while still employed by the Ministry of Finance. With this bank as a base, Shibusawa devoted himself to founding and encouraging businesses of all sorts.
Shibusawa was an advocate throughout his life of the idea that good ethics and business should be in harmony. The number of enterprises in which he was involved as founder or supporter is said to exceed 500, and includes Mizuho Financial Group
Mizuho Financial Group
, abbreviated as MHFG, or simply called Mizuho is a banking holding company headquartered in the Ōtemachi district of Chiyoda, Tokyo, Japan...
, Tokio Marine & Nichido Fire Insurance Co.
Tokio Marine & Nichido Fire Insurance Co.
, commonly called Tokio Marine Nichido, is a property/casualty insurance subsidiary of Tokio Marine Holdings, the largest non-mutual private insurance group in Japan. Tokio Marine Holdings was formerly known as Millea Group, which underwent a name change in July of 2008...
, Imperial Hotel
Imperial Hotel, Tokyo
The Imperial Hotel, Tokyo, Japan, was created in the late 1880s at the request of the Japanese aristocracy to cater to the increasing number of western visitors to Japan. The hotel site is located just south of the Imperial Palace grounds, next to the previous location of the Palace moat...
, Keihan Electric Railway
Keihan Electric Railway
is a Japanese railway operator in Osaka, Kyoto, and Shiga Prefectures. It is known as , or .-History:Keihan started its operation between Osaka and Kyoto in 1910. It was the first electric railway to connect these two cities, and the first line on the left bank of Yodo River...
, Taiheiyo Cement
Taiheiyo Cement
is a Japanese cement company, and is the biggest of its kind in Japan. It was formed in 1998 with the merger of Chichibu Onoda and Nihon Cement ....
, Sapporo Breweries
Sapporo Breweries
is a Japanese brewery founded in 1876. Their world headquarters are in Ebisu, Shibuya, Tokyo. The company purchased the Canadian company Sleeman Breweries in 2006.The company has five breweries in Japan as well as the Sleeman brewery in Canada...
, and NYK Line. Moreover, he spearheaded many works for the betterment of society, and was an enthusiastic supporter of education, especially higher education in the field of business such as current Hitotsubashi University
Hitotsubashi University
is a national university specialised in the social sciences in Tokyo, Japan. The University has campuses in Kunitachi, Kodaira, and Kanda.Hitotsubashi is considered as one of the most prestigious universities in Japan. It is ranked 25th in the world in 2011 by École des Mines de Paris.Hitotsubashi...
and current Tokyo Keizai University
Tokyo Keizai University
is a private university in Tokyo, Japan. It has campuses at the cities of Kokubunji and Musashimurayama. The predecessor of the school was founded in 1900, and it was chartered as a university in 1949.-External links:*...
, higher education for women, and private school
Private school
Private schools, also known as independent schools or nonstate schools, are not administered by local, state or national governments; thus, they retain the right to select their students and are funded in whole or in part by charging their students' tuition, rather than relying on mandatory...
s. Shibusawa involved himself in some 600 projects related to education, social welfare, and others.
In addition, Shibusawa made efforts to promote exchange of goods and goodwill across national boundaries through private-sector diplomacy. Numerous guests from overseas visited the Shibusawa residence in Asukayama, where they talked candidly with him.
Having lived through a time of great change and having stood personally in the vanguard of change in a new era, Shibusawa died at the age of ninety-one on November 11, 1931.
In fiction
Shibusawa, along with many other famous historical figures from the Meiji RestorationMeiji Restoration
The , also known as the Meiji Ishin, Revolution, Reform or Renewal, was a chain of events that restored imperial rule to Japan in 1868...
, plays a major role in the fantasy/historical fiction novel Teito Monogatari
Teito Monogatari
is a massive Japanese historical fantasy epic written by Hiroshi Aramata.-Overview:The story is a retelling of the history of Edo from an occultist perspective. The premise is based on the idea that the curse of Taira no Masakado greatly influenced the city's history from its inception to the...
, by Aramata Hiroshi
Hiroshi Aramata
is a Japanese author, translator, and screenplay writer, as well as a specialist in natural history and cartography.His most popular novel was Teito Monogatari , which has sold over 3.5 million copies in Japan alone. He also wrote Alexander Senki, a novel which eventually evolved into the anime...
. In the 1988 live-action adaptation of Teito Monogatari (known in the west as Tokyo: The Last Megalopolis
Tokyo: The Last Megalopolis
is a tokusatsu historical fantasy film produced in 1987 by Exe and distributed in 1988 by Toho Studios. It is the first live-action adaptation of the Teito Monogatari series by Hiroshi Aramata.-Plot:...
), Shibusawa is portrayed by the renowned Japanese actor Katsu Shintarō
Shintaro Katsu
, born Toshio Okumura was a Japanese actor, singer, producer, and director...
of Zatoichi
Zatoichi
is a fictional character featured in one of Japan's longest running series of films and a television series set in the Edo period. The character, a blind masseur and swordmaster, was created by novelist . This originally minor character was developed for the screen by Daiei Studios and actor...
fame.
External links
- Viscount Eiichi Shibusawa, chairman of the Armenian Relief Committee of Japan
- Japan and the Armenian Genocide
- Shibusawa, Eiichi at National Diet LibraryNational Diet LibraryThe is the only national library in Japan. It was established in 1948 for the purpose of assisting members of the in researching matters of public policy. The library is similar in purpose and scope to the U.S...
, Japan