Shibusawa Eiichi
Photo: Unknown photographer, Public domain, via Wikimedia Commons16

Shibusawa Eiichi

Japanese business magnate (1840–1931)

Shibusawa Eiichi, 1st Viscount Shibusawa (渋沢 栄一; 16 March 1840 – 11 November 1931) was a Japanese business magnate widely known today as the "Father of Japanese capitalism", having introduced Western capitalism to Japan after the Meiji Restoration. He introduced many economic reforms including use of double-entry accounting, joint-stock corporations and modern note-issuing banks.2

From Wikipedia’s article on Shibusawa Eiichi (this version), CC BY-SA 4.0.

Born Mar 16, 1840, died Nov 11, 1931.1

About

He founded the first modern bank based on joint stock ownership in Japan. The bank was aptly named The First National Bank (Dai Ichi Kokuritsu Ginkō, now merged into Mizuho Bank) and had the power to issue its own notes. Through this bank, he founded hundreds of other joint stock corporations in Japan. Many of these companies still survive to this day as quoted companies in the Tokyo Stock Exchange, which Shibusawa also founded. The Japanese Chamber of Commerce and Industry was founded by him as well. He was also involved in the foundation of many hospitals, schools, universities (including the first women's university), the Imperial Hotel in Tokyo and charitable organizations including the Japanese Red Cross Society.

Another notable aspect of Shibusawa's career is that, despite being the founder of hundreds of corporations, he refused to maintain a controlling stake in these corporations, effectively preventing himself from forming a zaibatsu. What is known as the Shibusawa zaibatsu was a holding company to look after his estate for his family. The Shibusawa Zaibatsu did not hold any controlling stake in any companies. Despite his humble origin as a farmer, he was granted the title of Viscount, while all other zaibatsu founders were awarded the title of Baron. He was also awarded Shōnii, Second Honour under the ritsuryō rank system, which is usually given to high-ranking nobility and prime ministers.

Shibusawa is featured on the 10,000 yen note, one of the new designs that went into circulation on 3 July 2024. Shibusawa was also printed on bank notes issued by the Korea First Bank, which he owned, in 1902. The choice of Shibusawa has previously been criticised in South Korea.

From Wikipedia’s article on Shibusawa Eiichi, shared under CC BY-SA 4.0.2

Companies

Career

Occupation: politician, banker, entrepreneur, businessperson, economist.8

More of their career (11)

Personal life

  • BornMar 16, 1840, Hanzawa district9
  • DiedNov 11, 1931, Nishigahara10
  • CitizenshipJapan11

Philanthropy

During the period of the Late Ottoman genocides, Shibusawa chaired the Armenian Relief Committee of Japan in Tokyo, helping to save the lives of hundreds of Armenian and Greek refugees. Through his efforts, several Japanese newspapers published articles on the subject, spreading awareness and urging individuals to donate and assist however they could.

Shibusawa and the Japanese people managed to gather donations totaling approximately ¥20,000 ($9,569 in 1922; inflation-adjusted roughly $200,000+ in 2026) to help Armenian and Greek victims.

From Wikipedia’s article on Shibusawa Eiichi (this version), CC BY-SA 4.0.

Awards

  • 1928Order of the Rising Sun with Paulownia Flowers, 1st class12
  • 1915Order of the Rising Sun, 1st class12
  • 1911Order of the Sacred Treasure, 1st Class12
  • 1902Order of the Sacred Treasure, 3rd class12
  • 1892Order of the Sacred Treasure, 4th class12
  • 1888Gold Medal with Yellow Ribbon12