Marubeni

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Marubeni Corporation
丸紅株式会社
Formerly called Marubeni-Iida (1955–1972)
Type Public KK
Traded as TYO: 8002
Industry General trading company
Founded 1949
Headquarters Chiyoda, Tokyo, Japan
Key people Fumiya Kokubu (President and CEO)
Revenue Decrease ¥10,509 billion (Mar. 2013)
Net income Increase ¥205.7 billion (Mar. 2013)
Total assets Increase ¥5,965 billion (Mar. 2013)
Total equity Increase ¥1,132 billion (Mar. 2013)
Employees 39,126 including subsidiaries (Mar. 2013)[1]
Website www.marubeni.com

Marubeni Corporation (丸紅株式会社 Marubeni Kabushiki-gaisha?) (TYO: 8002, OSE: 8002, NSE: 8002) is a sōgō shōsha (general trading company) headquartered in Ōtemachi, Chiyoda, Tokyo, Japan.[2] Marubeni is the fifth-largest sogo shosha and has leading market shares in cereal and paper pulp trading as well as a strong electrical and industrial plant business.[3]

History[edit]

Marubeni was established in 1918 as Itochu Shoten, Ltd. in a spin-off of certain sales divisions of C. Itoh & Co. (Itochu) into a separate entity. Itochu Shoten merged with Itoh Chobei Shoten in 1921 to form Marubeni Shoten, Ltd. under the leadership of Chobei Itoh IX.[4] Marubeni started out as a textile trading firm and expanded to trade in other consumer and industrial goods during the 1920s.[5]

Marubeni was re-combined with Itochu during World War II to form Sanko Kabushiki Kaisha Ltd. (1941–44) and Daiken Company, Ltd. (1944–48). This conglomerate was dismantled in the wake of the war and Marubeni again emerged as a separate trading company in 1949.[4] Post-war Marubeni was predominantly a textile trading firm at its outset, but diversified into machinery, metals and chemicals, with textiles barely forming a majority of its business by the end of the decade.[5]

Marubeni merged with Takashimaya-Iida, a trading company that owned the Takashimaya department store chain, in 1955, changing its name to Marubeni-Iida from 1955 to 1972.[5] The merger was orchestrated by Fuji Bank in order to create a stronger trading company partner for the bank's corporate customers. Marubeni and Fuji Bank developed a network of corporate clients which was formalized as the Fuyo Group keiretsu in the 1960s, paralleling the development of the DKB Group and Sanwa Group.[6] The Fuyo Group included Hitachi, Nissan, Canon, Showa Denko, Kubota and Nippon Steel.[5]

Marubeni was rocked by a series of scandals in the 1970s and 1980s. In the early 1970s Marubeni was accused of hoarding rice on the black market for profiteering purposes. In 1976, numerous Marubeni and All Nippon Airways executives were arrested in connection with the bribery of Japanese government officials to support the sales of Lockheed aircraft in Japan; the scandal also led to several suicides and the arrest of Prime Minister Kakuei Tanaka. In 1986, Marubeni was found to have bribed Filipino President Ferdinand Marcos and several of his friends and associates in connection with Japanese ODA work in the Philippines.[5]

Marubeni, like other sogo shosha, was hit hard by the collapse of the Japanese asset price bubble in the early 1990s and recorded its first annual net loss in 1998. The company again booked massive losses as part of a restructuring in 2001, with its stock price plummeting to 58 yen per share in December 2001.[7]

In January 2012, Marubeni Corporation agreed to pay a US$54.6 million criminal penalty to settle multiple US Foreign Corrupt Practices Act (FCPA) charges relating to its work as an agent for the TSKJ joint venture. The TSKJ joint venture comprising Technip, Snamprogetti Netherlands, Kellogg Brown & Root (KBR) and JGC Corporation hired Marubeni to bribe lower-level Nigerian government officials to help it obtain and retain contracts to build liquefied natural gas facilities on Bonny Island in Nigeria.[8] TSKJ paid Marubeni US$51 million which was intended, in part, to be used to bribe Nigerian government officials.[9]

In 2013, the Tokyo Stock Exchange recognized Marubeni as the best Japanese company at increasing enterprise value, citing management's efforts to maximize return on equity.[10]

Offices[edit]

Head office in Ōtemachi, Chiyoda, Tokyo, Japan
Osaka Office in Hommachi, Chuo-ku, Osaka, Japan
  • Head Office – 4-2, Otemachi 1-chome, Chiyoda, Tokyo, Japan
  • Head Office (Mita Annex) -20-6, Shiba 5-chome, Minato, Tokyo, Japan
  • Osaka Branch Office (former Osaka Head Office) – 5–7, Hommachi 2-chome, Chūō-ku, Osaka, Japan
  • Hokkaido Branch Office – 5–7, Minamiichijo-higashi 1-chome, Chūō-ku, Sapporo, Japan
  • Tohoku Branch Office – 9–10, Chuo 2-chome, Aoba-ku, Sendai, Japan
  • Nagoya Branch Office – 2-2, Nishiki 2-chome, Naka-ku, Nagoya, Japan
  • Kyushu Branch Office – 8–49, Tenjin 2-chome, Chūō-ku, Fukuoka, Japan

and more...

Acquisition[edit]

Together with China Winsway Coking Coal Holdings Limited, Marubeni Corporation made joint venture to acquire Canadian Grande Cache Coal Corp. for C$983 million, but the portion of Marubeni Corporation was only 40 percent.[11]

See also[edit]

References[edit]

  1. ^ "丸紅(株) 企業情報". Yahoo Finance. Retrieved 22 April 2014. 
  2. ^ "Company Profile." Marubeni. Retrieved on April 12, 2014. "Head Office <Office> 4-2, Ohtemachi 1-chome, Chiyoda-ku, Tokyo 100-8088, Japan"
  3. ^ "丸紅(株) 企業情報". Yahoo Finance. Retrieved 22 April 2014. 
  4. ^ a b "Corporate Chronology with Photos". Marubeni. Retrieved 22 April 2014. 
  5. ^ a b c d e "Marubeni Corporation History". International Directory of Company Histories, Vol. 24. St. James Press, 1999. Retrieved 22 April 2014. 
  6. ^ Suzuki, Shinichi (2006). The Japanese Main Bank System: A Transaction Cost Approach. ProQuest. p. 108-109. 
  7. ^ "Vol.3 2001". Marubeni Corporation. Retrieved 22 April 2014. 
  8. ^ AUTHOR (DATE). "TITLE". PUBLISHER.  Check date values in: |date= (help)
  9. ^ AUTHOR (DATE). "TITLE". PUBLISHER.  Check date values in: |date= (help)
  10. ^ "企業価値高める経営表彰、丸紅を大賞に選定 東証". Nihon Keizai Shimbun. 26 December 2013. Retrieved 30 April 2014. 
  11. ^ "Winsway & Marubeni Acquire Grande Cache HK$7.7 Billion". Retrieved November 1, 2011. 

External links[edit]