Based in Tokyo, Japan, Mitsubishi is a world renowned conglomerate with interests and businesses across the world ranging from car and automobile products to engineering and computer hardware. Mitsubishi equipment is now world-renowned in industries including construction, printing and many others.
Founded in 1871 as a shipping firm by Yataro Iwasaki the initial work of Mitsubishi was a forecast of the current method of trading with the company becoming a coal-mining business to gain the coal needed for ships, then it bought a shipbuilding yard from the government to repair the ships it used, then founded an iron mill to supply iron to the shipbuilding yard and even started a marine insurance business to cater for its shipping business. This model was used to expand into transport, aircraft building and a global trading business.
By the early 1920’s the group had three key sectors, banking, heavy equipment and transport machinery.
In May 2014, Germany’s Siemens announced it had signed a deal to enter a joint venture with Mitsubishi Heavy Industries to provide plants, products and services for the metals industry. The joint venture is 51% owned by Mitsubishi.