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Keiretsu
A is a set of companies with interlocking business relationships and shareholdings. It is a type of informal business group. The ''keiretsu'' maintained dominance over the Japanese economy for the last half of the 20th century.〔(Keiretsu Definition - What is Keiretsu? )〕
The member companies own small portions of the shares in each other's companies, centered on a core bank; this system helps insulate each company from stock market fluctuations and takeover attempts, thus enabling long-term planning in innovative projects. It is a key element of the automotive industry in Japan.
==History==
The corporate governance of Japan dates back to the 19th century, much of which was propelled by the formation of the Meiji Restoration in 1866 by the Japanese government, the same time when the world entered the Industrial Revolution. These formations were termed ''zaibatsu''.〔(Understanding Japanese Keiretsu )〕 Prior to the war, Japan remained dominated by four major ''zaibatsu'': Mitsubishi, Sumitomo, Yasuda and Mitsui. They focused on steel, banking, international trading and various other key sectors in the economy, all of which was controlled by a holding company. Apart from this, they remained in close connection to influential banks that provided funding to their various projects.〔(Evolution of Keiretsu and their Different Forms )〕
The prototypical ''keiretsu'' appeared in Japan during the "economic miracle" following World War II. Before Japan's surrender, Japanese industry was controlled by large family-controlled vertical monopolies called ''zaibatsu''. Under this system, large industrial corporations paved the way for banks and trading companies to sit on top of the organizational pyramid controlling all financial operations and distribution of goods.
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
■ウィキペディアで「Keiretsu」の詳細全文を読む
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