Mitsui & Co.

Mitsui & Co., Ltd.
三井物産株式会社
Company typePublic (KK)
TYO: 8031
TOPIX Core 30 Component
IndustrySogo shosha
FoundedJuly 25, 1947; 77 years ago (1947-07-25)
FounderTakashi Masuda, Tatsuzo Minakami
Headquarters2-1, Otemachi 1-chome, Chiyoda-ku, Tokyo 100-8631, Japan, ,
Japan
Area served
132 Offices in 64 Countries / Regions (2020)
Key people
Tatsuo Yasunaga
(Chairman)
Kenichi Hori
(President and CEO)
Products
  • Iron & steel products
  • Mineral & metal resources
  • Infrastructure projects
  • Chemicals
  • Energy
  • Food Products & Services
  • Consumer Services
  • IT & Communication Business
RevenueYen 11.67 trillion (2021)
Yen 450,202 million (2021)
Yen 335,458 million (2021)
Total assets105,800,000,000 United States dollar (2015) Edit this on Wikidata
OwnerBerkshire Hathaway (6%)
Number of employees
5,494 (Consolidated:44,336) (2022)
Subsidiaries280 Subsidiaries, 234 Equity Accounted Investees (2021)
Websitemitsui.com

Mitsui & Co., Ltd. (三井物産, Mitsui Bussan) is one of the largest sogo shosha (general trading companies) in Japan; it is part of the Mitsui Group.

History

Former headquarters (demolished in 2015)

The company was established in 1876 with 16 members, including the founder, Takashi Masuda. By the end of World War II, it had become a dominant trading giant, but was dissolved by the order of GHQ.[1]

The current Mitsui & Co. was established in 1947 as Daiichi Bussan Kaisha, Ltd. (First Bussan Corporation Ltd.). In 1959, it merged with several other trading companies and changed its name to Mitsui & Co., Ltd.[2]

During Japan's period of rapid postwar economic growth, the firm was a key player in several major natural resources projects. In 1971, it took a stake in an offshore gas field near Das Island in Abu Dhabi, which supplies liquefied natural gas to Japan on an exclusive basis; it invested in a major Western Australian LNG project in 1985 and in the Sakhalin II project in 1994.[2]

Its subsidiary Mitsui Oil Exploration's MOEX Offshore had a 10% stake in the Deepwater Horizon well in the Gulf of Mexico through a subsidiary, and in May 2011, MOEX agreed to pay US$1.07 billion to settle BP claims against it over the explosion and oil spill at the well. Some analysts had thought BP would realize a larger settlement from MOEX, but there was also relief to have a first step toward resolving the multiple claims.[3]

Berkshire Hathaway acquired over 5% of the stock in the company, along with four other Japanese trading houses, over the 12-month period ending in August 2020.[4]

Business areas

Mitsui engages in six major business areas:[5]

  • Energy: Upstream development and trading in oil and gas, the firm's's largest line of business, accounting for over half of its consolidated EBITDA and net earnings in the first half of fiscal year 2015.[6] Mitsui has two major energy projects in the United States, at the Marcellus Shale in the Mid-Atlantic and the Eagle Ford Shale in Texas.[7]
  • Metals: Development and trading with a focus on iron ore and steel. This business accounts for about a quarter of consolidated EBITDA and net earnings.[6] In 2014 Mitsui acquired a stake in the Moatize coal mine and Nacala rail and port development in Mozambique from the Brazilian mining company Vale.[8]
  • Chemicals: basic and performance chemicals including fertilizers, electronics materials and functional materials.
  • Machinery and Infrastructure: Sells, finances and invests in large-scale plants, ships, aircraft, automobiles and other heavy machinery.
  • Lifestyle: food, retail, healthcare, fashion, forestry and real estate. In 2014, CEO Masami Iijima identified this segment as an area of particular interest, particularly in relation to Mitsui's cooperation with Lippo Group in Indonesia.[7]
  • Information and Corporate Development: information technology, finance and logistics.[citation needed]

Recent activities

Group Companies

Steel Products Division

  • Mitsui & Co. Steel Ltd. - Domestic sales and import/export of construction and civil engineering steel materials, steel plates, special steel wire, etc.
  • Regency Steel Asia Pte Ltd - Wholesaling of steel products
  • Bangkok Coil Center Co., Ltd - Sales and processing of steel materials
  • Mitsui & Co. Steeltrade - Trading and domestic sales of steel products
  • Nippon Steel Trading Co., Ltd. (Joint venture with Nippon Steel) - Sales and import/export of steel, machinery/infrastructure, textiles, food, and other products
  • NST Sanko Trading Co., Ltd
  • Shanghai Bao-Mit Steel Distribution Co., Ltd. - Processing and sales of steel products
  • Siam Yamato Steel Co., Ltd. (Joint venture with Daewoo Industries) - Manufacturing and sales of steel products
  • Gestamp 2020, S.L - Investment in automotive press parts business
  • Gestamp NORTH AMERICA, INC. - Automotive press parts business

Metal Resources Division

  • Mitsui Coal Holdings Pty. Ltd. - Investment in Australian coal-related businesses
  • Mitsui Iron Ore Development Pty. Ltd. - Mining and sales of Australian iron ore
  • Mitsui Iron Ore Corporation Pty. Ltd. - Mining and sales of Australian iron ore
  • Mitsui-Itochu Iron Pty. Ltd. - Mining and sales of Australian iron ore
  • Mitsui & Co. Iron Ore Exploration & Mining Pty. Ltd. - Mining and sales of Australian iron ore
  • Mitsui Development - Overseas coal mine development including import coal sales for general industries and investments
  • Japan Collahuasi Resources B.V. - Investment in Chilean copper mine (Collahuasi Copper Mine)
  • Nacala Corridor Holding Netherlands B.V. - Railway sales of coal, general cargo, and passengers in Mozambique
  • Mitsui Metals - Domestic sales and trading of non-ferrous products, scrap, etc.
  • Mitsui Bussan Copper Investment & Co., Ltd. - Investment in Chilean copper mine (Caserones Copper Mine)
  • Mitsui Mineral Resources Development (Latin America) Limitada. - Investment in Chilean copper mine (copper mine under Anglo American)
  • Mitsui & Co. Mineral Resources Development (Asia) Corp. - Investment in nickel and cobalt refining business in the Philippines
  • BHP Mitsui Coal Pty. Ltd. - Mining and sales of coal
  • Nippon Amazon Aluminum - Investment in Brazilian aluminum refining business
  • Inner Mongolia Erdos Electric Power & Metallurgical Co., Ltd. - Coal, power, ferroalloy, Yellow River diversion, and chemical products

Project Division

  • Mitsui & Co. Plant Systems - Sales of various plants, power-related equipment, and railway equipment
  • Mitsui Power Ventures limited - Investment in power generation business
  • MIT POWER CANADA LP INC. - Investment in power generation business in Canada
  • MITSUI GAS E ENERGIA DO BRASIL LTDA. - Investment in gas distribution business
  • Atlatec, S.A. de C.V. - Design, construction, and operation of wastewater and sewage treatment facilities
  • Tokyo International Air Cargo Terminal - Construction and operation of cargo terminals in the international area of Tokyo International Airport
  • Portek International Private Limited - Container terminal and multipurpose port operation, sale of handling equipment, provision of port engineering services
  • MT FALCON HOLDINGS COMPANY, S.A.P.I - Investment in power generation business in Mexico
  • Toyo Engineering (Joint venture with Mitsui Chemicals and Obayashi Corporation) - Plant engineering
  • IPM Eagle LLP - Investment in power generation business in Europe and Puerto Rico
  • P.T. Paiton Energy - Investment in power generation business in Indonesia
  • Compañía de Generación Valladolid S. de R.L. de C.V. - Investment in power generation business in Mexico
  • AES JORDAN HOLDCO, LTD. - Investment in power generation business in Jordan
  • RLC Power Holding Company Limited - Investment in desalination power generation business in Qatar

Mobility Division 1

  • Toyota Chile S.A. - Import and sales of automobiles and parts
  • Veloce Logistica SA - Logistics services for automobile production plants (transportation, warehouses, etc.)
  • Mitsui Bussan Automotive (Thailand) Co., Ltd. - Sales of automobiles, trucks, and buses
  • P.T. Bussan Auto Finance - Motorcycle sales finance
  • Mitsui Autozam - Import and export of completed vehicles, parts, production facilities, and vehicle net auctions
  • Hino Motors Sales Mexico S.A. de C.V. - Import and sales of Hino trucks and spare parts
  • Transystem Logistics International Pvt.Ltd. - Automotive-related logistics services
  • Ellison Technologies Inc. - Sales, engineering, and services of machine tools, conveyors, and other equipment
  • Mitsui Machinery Techno - Sales of machine tools, injection molding machines, and other equipment
  • Mitsui Rail Capital Participações Ltda. - Investment in Brazilian freight wagon leasing business
  • Komatsu-Mitsui Maquinarias Peru S.A. (Joint venture with Komatsu) - Sales and maintenance of Komatsu mining and construction machinery
  • Road Machinery, LLC - Sales and maintenance of Komatsu mining and construction machinery in Arizona and California
  • Mitsui Auto Finance Chile LTDA. - Automobile sales and finance
  • TOYOTA Canada Inc. - Import and sales of automobiles and parts
  • Penske Automotive Group, Inc. - Automobile retail and comprehensive transportation business
  • Penske Truck Leasing Co., L.P. - Truck leasing, rental, and logistics business
  • P.T. Yamaha Indonesia Motor Manufacturing (Joint venture with Yamaha Motor) - Manufacture and sales of motorcycles
  • Komatsu Marketing Support Australia Pty. Ltd. (Joint venture with Komatsu) - Sales and maintenance of Komatsu mining and construction machinery
  • VLI S.A. - Railroad freight transport business
  • Odebrecht Mobilidade S.A - Railroad passenger transport business
  • Solar Koken Rent - Comprehensive rental of construction machinery and equipment

Mobility Division 2

  • Toyo Shipping - Management of ships, ship and used ship brokerage, sale of shipborne equipment
  • OMC Shipping Pte. Ltd. - Ship ownership business
  • M&T Aviation Finance (Ireland) - Investment in aircraft leasing business
  • Mitsui Aerospace - Import and sales of helicopters and aerospace-related equipment
  • Mitsui Rail Capital Holdings, Inc. - Investment in North American railroad-related businesses
  • MRCE Group - European locomotive-related leasing business

Basic Materials Division

  • Shark Bay Salt Pty. Ltd. - Salt production business
  • Mitsui Chemical - Domestic sales and trading of solvents, paints, and other chemicals
  • Fairway Methanol LLC - Manufacture and sales of methanol
  • Hi-Bis GmbH - Manufacture of chemicals mainly for automotive applications
  • Honshu Chemical Industry (Joint venture with Mitsui Chemical) - Manufacture and sale of various chemicals
  • International Methanol Company - Manufacture and sales of methanol
  • Kansai Helios Coatings GmbH (Joint venture with Kansai Paint) - Manufacture of paints, synthetic resins, adhesives, and other chemical products

Performance Materials Division

  • Mitsui Plastics - Comprehensive wholesale business centered on synthetic resins
  • Mitsui Plastics Trading (Shanghai) Co., Ltd. - Marketing and sales of synthetic resins, synthetic rubber, and related products
  • Advanced Composites, Inc. - Manufacturing and sales of plastic compounds, etc.
  • Mitsui & Co. Packaging - Pulp and packaging-related businesses
  • Mitsui Bussan Woodchip Oceania Pty. Ltd. - Reforestation and wood chip production and sales business
  • SMB Building Materials (Integration of Sumitomo Corporation and Marubeni Corporation's building materials sales departments) - Sales of construction materials, construction work contracting

Nutrition & Agriculture Division

  • Mitsui Food Science - Manufacture and sales of sugar alcohols (sorbitol, xylitol, etc.)
  • San-ei Seika - Manufacture of glucose and other saccharified products and dairy products
  • Mitsui Agribusiness - Sales of fertilizer-related materials, development and sales of agricultural materials
  • Mitsui AgriScience International S.A./N.V. - Supervision of European agricultural business
  • Top Tanker - Tanker transportation of petrochemical products
  • Soda Perfume (Joint venture with Toray Industries) - Manufacture and sales of fragrance-related products
  • MVM Resources International B.V. - Investment in Peruvian phosphate ore mining and sales business

Energy Division 1

  • Mitsui E&P Australia Pty Limited - Exploration, development, and production of oil and natural gas in Oceania
  • Mitsui E&P Middle East B.V. - Exploration, development, and production of oil and natural gas in the Middle East
  • Mitsui E&P UK Limited - Exploration, development, and production of oil and natural gas in Europe
  • Mitsui Oil Development - Exploration, development, and production of oil and natural gas
  • Mitsui E&P USA LLC - Exploration, development, and production of shale gas
  • Mitsui E&P Texas LP - Exploration, development, and production of shale gas/oil
  • Mitsui & Co. Energy Trading Singapore Pte. Ltd. - Spot and futures trading of crude oil and petroleum products
  • ENEOS Glove (Joint venture with ENEOS and Marubeni) - Import and domestic sales of liquefied gas, etc.

Energy Division 2

  • Mitsui Sakhalin Holdings B.V. - Investment in Sakhalin Energy Investment
  • Mitsui E&P Mozambique Area 1 Limited - Exploration, development, and production of oil and natural gas in Mozambique
  • Mitsui & Co. Energy Marketing and Services (USA), Inc. - Natural gas sales with upstream interests, as well as natural gas trading in the United States
  • Mitsui LNG Nederland B.V. - Investment in the Qatar LNG project and development of oil and natural gas in Qatar
  • Japan Australia LNG (MIMI) Pty. Ltd. - Exploration, development, and production of oil and natural gas

Energy Solutions Division

  • Forefront Power, LLC - Development and operation of solar power distributed generation businesses, provision of energy solutions for end users (solar energy, energy storage services, etc.)

Food Division

  • PRI Foods Co., LTD. - Production, processing, and sales of broilers
  • Tobu Bussan - Import and sales of various agricultural and aquatic products
  • United Grain Corporation of Oregon - Grain distribution business
  • Agricola Xingu S.A - Agricultural production business
  • Mitsui Nohrin (Joint venture with Mitsui Fudosan) - Manufacturing and sales of tea, green tea, and beverages for vending machines
  • MITSUI ALIMENTOS LTDA. - Export of coffee beans, coffee roasting, and domestic sales
  • Mitsui Food Material - Import/export, manufacturing, and sales of fruit/vegetable juice and processed products, and sales of dairy products
  • Feed One - Manufacture and sales of compound feed, procurement/sales/production/processing of livestock and aquaculture products, etc.
  • DM Mitsui Sugar Holdings - Holding company
  • DM Mitsui Sugar - Sugar refining business
  • Kadoya Sesame Mills (Capital and business alliance with Mitsubishi Shoji) - Extraction, refining, and processing of oilseed raw materials, and sales of oil and fat products
  • Startzen - Meat processing and sales, production and sales of meat products/food products

Distribution Division

  • Mitsui & Co. Distribution Holdings - Oversight of group companies responsible for intermediate distribution functions
  • Mitsui Food - Comprehensive food wholesale business
  • Vendor Service - Sales of food ingredients, container packaging materials, packaging materials, etc.
  • Mitsui Logistics Solutions - Logistics center management business
  • Retail System Service - Sales and service of food ingredients and miscellaneous goods
  • Mitsui Bussan Logistics, Inc. - Sales of food, groceries, containers, etc.
  • WILSEY FOODS, INC. - Investment in Ventura Foods LLC, a processed oil and fat food company
  • Beijing Baiwangda Trading Co., Ltd. - Sales and service of food ingredients and miscellaneous goods
  • Mitsui Food Fashion - Production planning and management of textile products
  • Paul Stuart Inc - Retail business of high-end clothing and accessories
  • ALCANTARA S.p.A. - Manufacture and sales of artificial leather
  • Bigi Holdings - Planning, manufacturing, and sales of clothing and accessories (holding company of Bigi Group)

Healthcare Services Division

  • IHH Healthcare Berhad - Hospital management and healthcare-related business
  • PHC Holdings - Supervision of development, manufacturing, and sales of medical devices such as blood glucose meters for diabetes patients
  • PHC - Development, manufacturing, and sales of medical devices such as blood glucose meters for diabetes patients
  • Nihon Microbio Pharma - Manufacturing of pharmaceutical raw materials and functional chemicals using microorganisms, manufacturing acceptance, and drug discovery support business
  • Ho Ken Dojin Sha - Publishing of health-related books, etc.
  • Fuji Pharmaceutical Industry - Development, manufacturing, and sales of medical pharmaceuticals
  • Aramark (Joint venture with US-based Aramark) - Facility management services (cleaning, catering, etc.)
  • Mitsui Facilities (formerly Mitsui Real Estate Facilities) - Comprehensive building, condominium management and comprehensive management, plant operations
  • UHS Partners - Dispatching and introduction of physicians, therapists, and nurses through subsidiaries (Delta, Accountable)

ICT Division

  • Mitsui Information - ICT system consulting, construction, operation, sales of data centers, cloud services, IoT devices, manufacturing equipment
  • Mitsui SecureDirection - Cybersecurity diagnosis, monitoring, and consulting services
  • World Hi-Vision Channel - BS digital broadcasting business
  • Relaia Communications - Call center, outsourcing/contract services
  • QVC Japan - TV home shopping business
  • Dynamic Plus - Revenue management services with "price" as the theme, provided through a joint venture with Z Holdings and Pia

Corporate Development Division

  • Mitsui Asset Management Holdings - Supervision of domestic real estate asset management business
  • Mitsui Logistics Partners - Asset management of logistics facility REIT "Nihon Logistics Fund"
  • Mitsui Realty Management - Asset management business of private real estate funds and private REITs "Mitsui & Co. Private Investment Trust"
  • Mitsui & Co. Idera Partners - Asset management business of J-REIT "Investment Corporation MIRAI"
  • Mitsui Alternative Investments - Brokerage of alternative investment products such as hedge funds
  • Mitsui Insurance - Property and life insurance agency business
  • Mitsui Corporate Investment - Buyout investment business
  • Mitsui & Co. Global Investment (USA) Inc. - Venture investment business
  • Mitsui Bussan Commodities Ltd. - Energy and derivative trading, non-ferrous metal dealing
  • Mitsui Global Logistics - Warehouse operations, transportation, customs clearance, real estate leasing, international integrated transportation, etc.
  • Konan Pier - Warehouse operations, port operations, transportation service
  • MITSUI & CO. GLOBAL LOGISTICS (ASIA) PTE LTD - International integrated transportation business
  • Mitsui Urban Development (formerly Mitsui Real Estate) - Real estate development, leasing, sale, solution business, etc.
  • Mitsui Financial Management - Accounting management-related business
  • MBK Real Estate LLC - Real estate-related business
  • MBK Real Estate Asia Pte. Ltd. - Real estate development business in Southeast Asia
  • JA Mitsui Leasing (Integration of Mitsui Leasing business with JA Group) - Comprehensive leasing business

Americas Division

  • Mitsui Foods, Inc. - Wholesale of canned food, frozen food, tea, beverage ingredients, coffee, etc.
  • Intercontinental Terminals Company LLC - Leasing of chemical tanks
  • Game Changer Holdings Inc. - Investment in steel processing and sales companies
  • Novus International, Inc. - Manufacture and sales of feed additives
  • MITSUI PLASTICS INC. - Sales of chemicals
  • Mitsui Agro Business S.A. - Investment in South American fertilizer sales business
  • Mit-Salmon Chile SpA - Investment in Salmones Multiexport S.A. (Salmon farming, processing, and sales business)
  • Shiko Beauty Inc. – online marketplace of expertly curated Japanese skincare beauty products

Europe, Middle East, and Africa Division

  • EURO-MIT STAAL B.V. - Slit processing and sales of electromagnetic steel plates to European transformer manufacturers, etc.
  • GEG (HOLDINGS) LIMITED - Fabrication, repair, and technical support of marine structures for petroleum, gas, and renewable energy
  • ITC RUBIS TERMINAL ANTWERP NV - Tank terminal business including storage and warehousing services for petrochemical and gasification products

Asia and Oceania Division

  • Mitsui Water Holdings (Thailand) Ltd. - Investment in water supply business
  • PT Kingsford Holdings - Investment in PT Champion Pacific Indonesia

Others

  • Mitsui & Co. Financial Services - Financial services for related companies
  • Mitsui & Co. Financial Services (Asia) Ltd. - Financial services for related companies
  • Mitsui & Co. Financial Services (Europe) Plc. - Financial services for related companies
  • Mitsui & Co. Financial Services (U.S.A.) Inc. - Financial services for related companies
  • Mitsui & Co. Trading Services - Financial services for related companies
  • Mitsui & Co. Credit Consulting - Financial services for related companies
  • Mitsui & Co. Business Partners - Outsourcing of personnel and general affairs-related business
  • Moon Creative Lab Inc. - Business design consulting

References

  1. ^ Wolfe, Robert, ed. (1984). Americans as proconsuls : United States military government in Germany and Japan, 1944-1952. Carbondale: Southern Illinois University Press. pp. 148–149. ISBN 0809311151. OCLC 9465314.
  2. ^ a b "History". Mitsui & Co., Ltd. Archived from the original on 6 May 2015. Retrieved 5 June 2015.
  3. ^ Kennedy, Simon (May 20, 2011). "BP settles with Mitsui arm over Macondo spill". MarketWatch. Retrieved 2011-05-20.
  4. ^ Yamazaki, Makiko (20 November 2022). "Buffett's Berkshire boosts stakes in Japan's five biggest trading houses". Reuters. Archived from the original on 18 July 2023. Retrieved 18 July 2023.
  5. ^ "Six business areas". Mitsui & Co., Ltd. Archived from the original on 19 June 2015. Retrieved 5 June 2015.
  6. ^ a b "Consolidated Financial Results" (PDF). Mitsui & Co. 6 November 2014. Archived from the original (PDF) on 22 January 2015. Retrieved 22 January 2015.
  7. ^ a b Fukase, Atsuko (30 January 2015). "Mitsui Remains Focused on Resources". The Wall Street Journal. Retrieved 5 June 2015.
  8. ^ Iwata, Mari (9 December 2014). "Mitsui to Buy Into Some Vale Operations in Mozambique". The Wall Street Journal. Retrieved 5 June 2015.