The giants that refused to die. (Japanese trading companies survive extinction through diversification and investment ventures)

The Economist (US) | June 1, 1991 | Copyright

AFTER the 1985 Plaza accord, Mitsui & Co hired a management-consulting firm to advise it on how to cope with a stronger yen. The consultants gave up the job after four months because they could not devise a strategy for such a borderless company. Japan's traders, known as sogo shosha, have operations all around the world, ranging across finance, distribution, technology, mining, oil and gas exploration, and information. They are the spiders at the centre of Japan's global economic effort, acting as intermediaries for half the country's exports and two-thirds of its imports.

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