著者

麻島 昭一

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.20, no.3, pp.1-37, 1985-10-30 (Released:2009-11-06)

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Established by Chikuhei Nakajima in 1917, Nakajima Aircraft Company grew into a huge munitions company during World War II. Together with Mitsubishi Heavy Industries, the Company was ranked as one of the two largest aircraft manufacturers in Japan. At the time of the so-called “dissolution of Zaibatsu”, the Company was named among the significant targets of such measures together with the Four Largest Zaibatsu and divided drastically into pieces. Thus, though important, no study has been made about the Company because of extreme lack of available materials.The purpose of this paper is to clarify the characteristics of the Nakajima Aircraft Group by digging out materials so far unknown, the results of which are as follows:1) The capital of the Company was usually small and the stocks were possessed actually by the Nakajima brothers alone. The Company was, therefore, able to make decisions promptly, meeting the severe requirements from the military authorities, which led it to realize a great progress.2) Devoting itself to working only for the army and navy, the Company had been structured not to make any profit except for that necessary to make dividends of 7% p.a.(3) Because of its small capital and small accumulation of profit, the Company was forced to rely extremely on borrowings, and in the stage of its rapid growth during the War, it depended solely on The Industrial Bank of Japan.(4) Although the Company had possessed stocks of many companies or made loans to them, these relationships did not constitute a Zaibatsu, but one of the general cases often seen, where a parent company controls many subcontract companies.

著者

麻島 昭一

出版者

専修大学社会科学研究所

雑誌

社会科学年報 (ISSN:03899519)

巻号頁・発行日

no.41, pp.39-76, 2007

著者

麻島 昭一

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.20, no.2, pp.50-66, 1985-07-30 (Released:2009-11-06)

著者

麻島 昭一

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.19, no.1, pp.45-67, 1984-04-30 (Released:2009-11-06)

著者

麻島 昭一

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.16, no.2, pp.1-33,i, 1981-07-30 (Released:2009-11-06)

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The historical side of the Sumitomo Zaibatsu has yet to be studied deeper. The writer has attempted to get the whole perspective of the Group, based on his 5 previous theses.The object of this study is to analyse the fund raising mechanism of the Group, in the 1921-1943 period. This is because the analysis of the flow of funds inside the Group is a short cut to grasping the structure of the Zaibatsu.In this study, the writer utilized documentary materials from the Honsha (the holding company of the Group named Sumitomo Goshikaisha) and annual reports from its member companies. Some notable results of the analysis follow;(1) Within the Sumitomo Zaibatsu the Honsha functioned as the financial control organ for the companies of the Group. Whenever the Honsha was short of funds, the necessary amounts were furnished to it by the Sumitomo Bank. There were no example of fund raising from outside the Group. Even when an enterprise directly managed by the Honsha became an independent affiliated company, the financial control by the Honsha over the company was strictly maintained.(2) In substance the fund raising of the Group depended largely on its own accumulated capital and comparatively on little on bank loans.Thus, the Sumitomo Bank had rather little business within the Group both in loans and in deposits. This is partly because the Group had not such giant enterprises as Mitsui & Co., Ltd. or Mitsui Mining Co., Ltd. of the Mitsui Zaibatsu.(3) During World War II, however, the scale of manufacturing companies of the Group expanded rapidly and they were forced to raise necessary funds outside the Group also. As a result the fund raising function of the Honsha weakened. In turn, the role of the Sumitomo Bank increased and the share of funds from outside the Group became more important.

著者

麻島 昭一

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.15, no.3, pp.75-88, 1980-12-30 (Released:2009-11-06)

著者

麻島 昭一

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.9, no.3, pp.1-17, 1974-06-25 (Released:2009-10-19)

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This paper describes the development of Trust Companies in Japan, focusing on the characteristics of their capital, executive staffs and management philosophy.Trust companies were incorporated under the Trust Business Act of 1923. Most of those trust companies were established and capitalized by a Zaibatsu, a large bank or major provincial banks, and were managed by the executives sent from the mother bank, following the example of their mother. The fact that the trust companies had the function of taking charge of trusters' property, however, gave characteristic feature to their management philosophy.The trust companies grew up as one of the long term financial institutions, comparable to banks and life insurance companies.