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History

Founded by Takatoshi Mitsui ( 1622– 1694), who was born a second son of a shopkeeper in Matsuzaka, called Echigoya (越後屋) in today's Mie prefecture. His father originally sold miso, a type of liquor, and ran a pawn shop. Later, the family built a second shop in Edo (now called Tokyo).

Takatoshi moved to Tokyo when he was 14 years old, and later his older brother joined him. Ever since he was very young, he had shown outstanding business talent. But because of that, his jealous brother sent him back to Mie when he was 28 years old. He waited for 24 years until his older brother passed away before he could take over Echigoya. He opened a new branch in 1673; a large gofukuya ( kimono shop) in Nihombashi, a district in the heart of Tokyo. Later the Gofukuya devision separated from Mitsui, and is now called Mitsukoshi.

Traditionally, Gofukuya's provided products made to order; a visit was made to the customer's house (typically a person of high social class or who was successful in business), a order taken, then fulfilled. The system of accountancy was called "margin transaction" . Mitsui changed this by producing products first, then selling them directly at his shop for cash. At the time, this was an unfamiliar mode of operation in Japan.

In 1683, Takatoshi opened an " exchange shop " in Tokyo. Soon the shop began providing goods to the government of the city of Edo. At the time, Edo's government had struck a business deal with Osaka. Osaka would sell crops and other material to pay its land tax. The money was then sent to Edo—but moving money was dangerous in middle feudal JapanPre-History/The Origin of History Jomon Period Main article: Jomon The origins of Japanese civilization are buried in legend. February 11, 660 BC is the traditional founding date of Japan by Emperor Jimmu Tenno. This however is a version of Japanese histo. The "exchange shop" facilitated transfers without the risk.

On July 1July 1 is the 182nd day of the year (183rd in leap years) in the Gregorian Calendar, with 183 days remaining. Events 1097 Battle of Dorylaeum Crusaders under Bohemond of Taranto defeat a Turkish army under Qilich Arslan I. 1690 Battle of the Boyne as reck, 1876Events January events January 31 The United States orders all Native Americans to move into reservations. February events February 2 The National League of Professional Baseball Clubs of Major League Baseball is formed. February 14 Alexander Graham Bell a, the first Japanese private bank was founded, Mitsui bank (now called Sumitomo Mitsui Banking CorporationSumitomo Mitsui Banking Corporation (SMBC, Mitsui Sumitomo Ginko is a Japanese bank based in Tokyo, Japan. It is a member of the Sumitomo Group. History In April of 2001, Sakura Bank and Sumitomo Bank merged, forming Sumitomo Mitsui Banking Corporation.). Its president was Takashi Masuda ( 18481848 is a leap year starting on Saturday (link will take you to calendar). Events Sri Lanka The Revolution of 1848 (qv. a series of widespread but failed struggles for more liberal governments, from Brazil to Hungary. January 24 California gold rush: Jame– 1938Events January -June January 3 The March of Dimes is established by Franklin Delano Roosevelt. January 11 Frances Moulton is the first woman to become president of a US national bank. January 20 Wedding of king Farouk I of Egypt and Farida Zulficar in Cai).

See also: List of Japanese companiesThis is a list of companies from Japan . See lists of companies for lists of companies from other countries. See also: Keiretsu. Number and Symbol 77 Bank A Acom Advantest Aeon (company) Aichi Bank Aiful Aioi Insurance Aisin Seiki Ajinomoto Akita Bank All