Sumitomo Group

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Sumitomo ( Japanese 住友 グ ル ー プ )

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legal form economic group of formally independent companies ( Keiretsu )
founding circa 1630
Seat JapanJapan Japan
Branch Conglomerate : chemistry, pharmacy, heavy industry, mechanical engineering, finance, trade, mining, mining, etc.
Website www.sumitomocorp.co.jp (English)

The Sumitomo Group ( Japanese 住友 グ ル ー プ , Sumitomo Gurūpu ) is an economic group ( Keiretsu ).

history

The group is named after its founder Masatomo Sumitomo (1585-1652), who opened a shop for the sale of medicines and books in Kyoto in 1630 .

Masatomo Sumitomo's brother-in-law, Riemon Soga (1572–1636), who ran a copper smelter and smithy , developed a new forging technique, the so-called Nanban-buki process, which separated silver from raw copper . Tomomochi Sumitomo (1607–1662), the eldest son of Riemon Soga, expanded the business to Osaka . He communicated the new forging technique to other copper smelters and made the name of the Sumitomo family known as the source of the Nanban-buki process. This gave Sumitomo the opportunity to rise to the top of copper mining and refining by the end of the 18th century. After that, new business areas were added such as banks , department stores, electrical cables and others.

Sumitomo achieved international fame in 1993 when a factory of the Sumitomo Group specializing in the manufacture of housing materials for integrated circuits went up in flames. Within a few hours z. B. the world market prices for DRAMs by almost tenfold, which triggered international panic buying and a price crisis lasting several months in the computer and semiconductor industry.

Even today, the Sumitomo group acts according to the rules of its founder , which Masatomo Sumitomo wrote down in the 17th century.

Associated companies

The Sumitomo Group currently consists of 37 companies and in 2007 was one of the five largest corporate groups worldwide. Sumitomo Electric Industries has z. B. 390 subsidiaries in over 40 countries. Sumitomo Electric Industries has over 248,330 employees (as of March 31, 2017). At Sumitomo Wiring Systems employs about 120,000 people. However, since both companies are nested inside each other through a share swap (see Keiretsu ), it is not possible to say exactly how many employees the companies really have.

For example, B. Sumitomo Electric Bordeze SE in Wolfsburg partly to Sumitomo Electric Industries and partly to Sumitomo Wiring Systems. The Sumitomo Electric shrink-Produkte GmbH (SESP) in Norderstedt in turn is a subsidiary of Sumitomo Fine Polymer, Inc. (SFP) , which in turn 100 percent of Sumitomo Electric Industries Ltd. (SEI) , both based in Japan.

The source of the following list is the website of the "Sumitomo Group Public Affairs Committee" / List of Group Companies

Chemical / chemical industry

Machinery / mechanical engineering

Finance and Insurance / Finance and Insurance Services

Steel / steel

Nonferrous Metals / Non-Ferrous Metals

Commerce / trade

Mining / mining

Warehousing and Transportation

Ceramics / Ceramic Materials

Construction / construction

Rubber Products / Rubber Products

Electronics / electronics

Electric equipment / electrics

Services / services

Real estate / real estate

See also

Individual evidence

  1. ↑ Riemon is said to have learned the procedure, usually called Namban-shibori , from foreigners (Namban).
  2. ↑ Electronic News, July 12, 1993, accessed on September 1, 2011 ( Memento from July 8, 2012 in the web archive archive.today )

Web links

Commons : Sumitomo Group  - collection of images, videos and audio files