The second president of the company, Yanosuke Iwasaki, changed the company name from Mitsubishi Mail Steamship Company to Mitsubishi Company and devoted all his attention to the structuring of his two new business sectors. Subsequent presidents from the Iwasaki family followed the examples of their predecessors and expanded the company around the activities of ore mining, hard coal mining, shipbuilding, banking, trade and property.

Mitsubishi developed into a very large family business comprising over 70 firms. To coordinate the activities of the growing family business, the “Mitsubishi Kyogikai” (top management meeting) was established in 1937. Although this gathering served as an important forum, the common spirit among the firms was fostered by the Mitsubishi management philosophy that rests on three fundamental principles: Accountability towards the company, integrity and fairness, and international understanding through trade.

The Mitsubishi Holding was dissolved under the post-war policy of decentralizing economic power. The outcome was various independent companies, of which many still bear the “Mitsubishi” name and the logo of the Three Diamonds. These include the Mitsubishi Bank, Mitsubishi Motors and, last but not least, Mitsubishi Electric. Although the companies are autonomous and have gone their own ways, they all benefit from the sense of community founded in their shared history and culture.

Today, Mitsubishi Electric is represented all over the world with over 110 locations for R&D, production, sales and other business activities. The company’s global activities enable it to observe social obligations above and beyond business proper. It is involved in cultural and educational projects and seeks good relations with the communities in which it is located.