UK Accounting Glossary
A Zaibatsu is a Japanese conglomerate. They controlled much of the economy of Japan prior to World War II.
A Zaibatsu is a Japanese conglomerate.
Zaibatsu (財閥, “financial clique”) is a Japanese term referring to industrial and financial business conglomerates in the Empire of Japan, whose influence and size allowed control over significant parts of the Japanese economy.
They have been banned since the mid-1940s and were replaced by Keiretsu.
Historically, a family-controlled vertically integrated cartel of industrial and financial business that existed in Japan prior to World War 2.
It differs from a keiretsu in having a bank as it’s dominant member.
Although the Zaibatsu were officially dissolved in 1946, the 3 largest ones, Mitsui, Mitsubishi and Sumito, gave rise to respective enterprise groups which retained, to a certain extent, control over economic activity and contributed to Japan’s economic growth after the war.
Occupation reformers believed the Zaibatsu played a key role in fostering Japanese fascism and militarism.
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This glossary post was last updated: 4th May 2019.