Yasuda
Encyclopedia
Yasuda zaibatsu was a financial conglomerate owned and managed by the Yasuda family. One of the four major zaibatsu of Imperial Japan, it was founded by the entrepreneur Yasuda Zenjirō
. It was wound up at end of World War II.
at the age of 17 and began working in a money changing house. In 1863, he started providing tax-farming services, and greatly magnified his wealth by buying up depreciated Meiji paper money that the government subsequently exchanged for gold. He quickly began to amass newly available capital, establishing the Third National Bank in 1876 and forming the Yasuda Bank (later known as the Fuji Bank
) in 1880, the center of the Yasuda zaibatsu.
Yasuda consolidated his empire in banking and finance, specializing in backing small and medium-sized traders and industrialists. In 1880, Yasuda founded the Yasuda Mutual Life Insurance Company (now Meiji Yasuda Life Insurance). In 1893, the Yasuda zaibatsu absorbed the Tokyo Fire Insurance Company, later renamed the Yasuda Fire and Marine Insurance Company.
Yasuda Zenjirō was assassinated in 1921 when he refused to make a financial donation to an ultra-nationalist. Zenjirō's son, Zennosuke Yasuda, assumed leadership of the zaibatsu. By 1928, the Yasuda zaibatsu was ranked behind only the Mitsui
and Mitsubishi
groups in total capital. In that year, the Yasuda zaibatsu encompassed 66 companies and reported total capital of ¥308 million.
During World War II, the Japanese government began forcing consolidation of major financial institutions. In January, 1942, Hajime Yasuda, the head of the conglomerate, announced that all Yasuda family members would withdraw from related and subsidiary companies, assuming new leadership positions as board members over all zaibatsu concerns.
, who rose to worldwide fame in the late 1960s due to her marriage to Beatle
John Lennon
, descends from the Yasuda family. Ono began managing the couple's finances in the 1970s with a string of successful investments and has remained to consistently keep John Lennon in the top five highest earning dead celebrities since his murder in 1980.
Yasuda Zenjiro
was a Japanese entrepreneur from Toyama, Etchu Province who founded the Yasuda zaibatsu . He donated the to the University of Tokyo. He was the great-grandfather of Yoko Ono.-Biography:...
. It was wound up at end of World War II.
Origins
Yasuda Zenjirō moved to EdoEdo
, also romanized as Yedo or Yeddo, is the former name of the Japanese capital Tokyo, and was the seat of power for the Tokugawa shogunate which ruled Japan from 1603 to 1868...
at the age of 17 and began working in a money changing house. In 1863, he started providing tax-farming services, and greatly magnified his wealth by buying up depreciated Meiji paper money that the government subsequently exchanged for gold. He quickly began to amass newly available capital, establishing the Third National Bank in 1876 and forming the Yasuda Bank (later known as the Fuji Bank
Fuji Bank
The was one of Japan's major banks during the post-World War II era. It combined with Dai-Ichi Kangyo Bank and the Industrial Bank of Japan in 2000 to form Mizuho Financial Group, and changed its name to Mizuho Corporate Bank in 2002 after transferring its retail banking operations to Mizuho...
) in 1880, the center of the Yasuda zaibatsu.
Yasuda consolidated his empire in banking and finance, specializing in backing small and medium-sized traders and industrialists. In 1880, Yasuda founded the Yasuda Mutual Life Insurance Company (now Meiji Yasuda Life Insurance). In 1893, the Yasuda zaibatsu absorbed the Tokyo Fire Insurance Company, later renamed the Yasuda Fire and Marine Insurance Company.
20th century
The Yasuda focus on banking was narrowed by the merger of eleven Yasuda-controlled banks into the Yasuda Bank in 1913. The post-merger bank was the by far largest of all the zaibatsu banks.Yasuda Zenjirō was assassinated in 1921 when he refused to make a financial donation to an ultra-nationalist. Zenjirō's son, Zennosuke Yasuda, assumed leadership of the zaibatsu. By 1928, the Yasuda zaibatsu was ranked behind only the Mitsui
Mitsui
is one of the largest corporate conglomerates in Japan and one of the largest publicly traded companies in the world.-History:Founded by Mitsui Takatoshi , who was the fourth son of a shopkeeper in Matsusaka, in what is now today's Mie prefecture...
and Mitsubishi
Mitsubishi
The Mitsubishi Group , Mitsubishi Group of Companies, or Mitsubishi Companies is a Japanese multinational conglomerate company that consists of a range of autonomous businesses which share the Mitsubishi brand, trademark and legacy...
groups in total capital. In that year, the Yasuda zaibatsu encompassed 66 companies and reported total capital of ¥308 million.
During World War II, the Japanese government began forcing consolidation of major financial institutions. In January, 1942, Hajime Yasuda, the head of the conglomerate, announced that all Yasuda family members would withdraw from related and subsidiary companies, assuming new leadership positions as board members over all zaibatsu concerns.
Dissolution
Following Japan's defeat in August 1945, Yasuda executives assumed a leadership role in planning for the dissolution of their own group. The Yasuda Plan was submitted in October 1945 and stipulated that the Yasuda zaibatsu would be dissolved and that Yasuda Bank would cease to control Yasuda subsidiaries. In addition, family members and executives appointed by them would resign from all Yasuda companies. The Yasuda Plan, with some revisions, was accepted by the U.S. government in November of that year.Present day
Avant garde artist Yoko OnoYoko Ono
is a Japanese artist, musician, author and peace activist, known for her work in avant-garde art, music and filmmaking as well as her marriage to John Lennon...
, who rose to worldwide fame in the late 1960s due to her marriage to Beatle
The Beatles
The Beatles were an English rock band, active throughout the 1960s and one of the most commercially successful and critically acclaimed acts in the history of popular music. Formed in Liverpool, by 1962 the group consisted of John Lennon , Paul McCartney , George Harrison and Ringo Starr...
John Lennon
John Lennon
John Winston Lennon, MBE was an English musician and singer-songwriter who rose to worldwide fame as one of the founding members of The Beatles, one of the most commercially successful and critically acclaimed acts in the history of popular music...
, descends from the Yasuda family. Ono began managing the couple's finances in the 1970s with a string of successful investments and has remained to consistently keep John Lennon in the top five highest earning dead celebrities since his murder in 1980.