MITSUBISHI ELECTRIC

Mitsubishi is a major Japanese keiretsu (conglomerate). It was founded on 13 May 1870 by Iwasaki Yatarō in Tokyo. Initially, it was a shipping company whose steamships flew a flag of three lozenges, which gave the company its name: Mitsubishi. It managed half of Japan's maritime traffic. Over the course of the 19th and 20th centuries, the company diversified into a wide range of activities. It was Yatarō's son, Hisaya, who restructured the company to cover the financial, real estate and industrial sectors. In the 1920s, for example, Mitsubishi launched its own models of car, the Model A, and aircraft, notably the terrible Zero. After Japan's defeat, the United States ordered the dismantling of the group, as it did for all Japanese conglomerates. However, the managers of the small companies that had been created continued to maintain contact through partnerships. In 1954, Mitsubishi regained the right to reconstitute itself. The company launched its televisions, engines and radiators, all marked with the three diamonds. Today, Mitsubishi Heating and Air Conditioning is an important subsidiary of the group, benefiting from its mechanical and electronic expertise. It produces heat pumps (air-to-air and air-to-water) and air conditioners, the group's flagship products.