Zaibatsu

The zaibatsu has been central to industrialization and modernization in Japan. The word zaibatsu has two distinct meanings depending on the context. For journalists, it means a financial clique or a wealthy person. For academics of business, history, and management, it means huge industrial conglomerates. In Japan, the word means financial clique or a wealthy person. In the rest of the world, it refers to industrial conglomerates.

Zaibatsu is a word used mainly in Japan. The word zaibatsu consists of “zai” and “batsu.” In Japanese, zai means money or possessions and batsu means a closely united group of people who do not allow others easily to join their group. The zaibatsu originated late in the Edo Period (1603–1867) and was formed early in the Meiji Period ...