BookTitleToyota Tsusho 70-Year History

Summary

Toyota Tsusho 70-Year History

separated the new accounts and were given permission to establish a secondcompany based on Japan’s Company Rehabilitation Service Act. The followingwas specified as a reason for that:This company will take over the sales of steel, electrical appliances,mechanical hardware, automotive tools and supplies, household goods, woodproducts, textile machinery, etc. sold by the dissolving Toyota Sangyo. Allof these products are essential to the rebuilding of the industry of a peacefulJapan and the stability of the livelihood of the people, as well as being the basicmaterials of daily life. The main suppliers of these products are companies andfactories in Nagoya-shi and the surrounding area, and they are sold throughoutthe country. For these reasons they are important to the advancement of thefacilitation of materials distribution, as well as to the support of the growth ofsuperior small to medium-sized enterprises.The phrases“the basic materials of daily life,”“the facilitation of materialsdistribution,”and“the growth of superior small to medium-sized enterprises”are an advance look at how the company would function as a general tradingcompany.While making a fresh start as a general trading company, the president, RisaburoToyoda, tendered his resignation“for personal reasons.”The dismantling of thezaibatsu conglomerates didn’t reach the Toyoda family, but Risaburo’s resignationwas a response to the purging of officials that was becoming common in theJapanese business world. Managing Director Toranosuke Kobayashi, DirectorToranosuke Hotta, and Auditor Rizo Suzuki also resigned.In this way, Toyota Sangyo, which had continued from before the war, wentcompletely out of business.Tojiro Okamoto3 Starting Over as Nisshin TsushoOn July 1, 1948, the Trading Department of Toyota Sangyo was separated andestablished as a new company. The company was named Nisshin Tsusho (NisshinTrading in English), an idea of Risaburo Toyoda containing the determination to“keep improving day by day.”Along with this, Toyota Sangyo was dissolved onthe same day, based on the reorganization plan.Nisshin Tsusho had capital of nine million yen, and the company headquarterswere located at 1-221-2, Sasashima-cho, Nakamura-ku, Nagoya-shi. The OsakaBranch and Tokyo Office were taken over as is from Toyota Sangyo.On August 20, 1948, the first extraordinary shareholders meeting was held.In addition to making changes to the Articles of Incorporation, at an operatingcommittee held after the General Shareholders Meeting, the followingmanagement team was selected.President and Representative Director Tojiro OkamotoManaging Directors Tomiyasu KambaraSadao OkajimaDirectors Masao NishikawaYoshijiro IwasaKazuo YogoAuditors Muratsugu KatoSadao MorikawaTomotsune Jiromaru52