Involvement in Economic Advancement
The activities of SHOSHA in their early days were not as diversified as we see today. They have constantly developed business and expanded the scope of their transactions according to the flow and needs of the times
| Postwar recovery period: | Promoted the growth of light industries (textiles, food products, etc.) |
|---|---|
| Period of rapid economic growth: | Contributed to the growth of heavy and chemical industries (steel, machinery and plants, petrochemicals, etc.) |
| Period after oil crises: | Promoted the development and stable supply of oil-alternative energy resources |
| Period after the Plaza Accord: | Expanded foreign direct investment and overseas production, promoted product imports to Japan, official development assistance (ODA), development of infrastructure in developing countries, and domestic-demand oriented industries |
| Period of the 1990s through 2000s: | Promoted businesses in such new growth fields as information technology & telecommunications, logistics, retail, financing, bio and nano-technology, and environmental related industries |
During the economic recovery period immediately following World War II, the highest priority was put on the sufficient supply of living essentials. Under these circumstances, the activities of SHOSHA recommenced in the field of light industries, including textiles and food products. Thereafter, as Japan entered the period of booming economic growth, the SHOSHA's operations were broadened to include the fields of steel, shipbuilding, heavy machinery and plants, electrical equipment and chemicals coinciding with emerging heavy industries.
Active on the trade front in Japan, whose economic growth largely depended upon foreign trade, the SHOSHA gradually built global networks linking Japan and overseas countries.
When the Japanese economy was hit twice by oil crises in the 1970s, the stable supply of energy resources became a vital factor on the SHOSHA's agenda. It was during this period that they began to step up their involvement in large-scale development of energy resources including alternative to oil energy.
As the nation's living standard rose, the SHOSHA also became also involved in urban development and the housing industry.
The conclusion of the Plaza Accord in the mid 1980s was promptly followed by the rapid appreciation of the yen which triggered a surge in direct investment in foreign countries and a shift to overseas production.
The SHOSHA deepened their involvement in the cultivation of export industries and supporting industries in emerging economy countries. At the same time, they escalated the promotion of product imports to Japan, their involvement in ODA-related projects and infrastructure development.
In Japan, they took up the challenge of new business fields outside the trade sector with a view to stimulating a domestic demand oriented economy. More specifically, they carved out such new domains as satellite communications and broadcasting.
Since the 1990's, the SHOSHA have been moving into the information technology (IT), strengthening their LT (logistics technology) and FT (finance technology) and making positive approaches in such new territory as high-technology, health care/life care and environmental related fields.
At the beginning of the 21st century, faced with ongoing restructuring of the Japanese economy, the SHOSHA have been undertaking structural reform of their own businesses, giving due consideration to improving capital efficiency, strengthening their earnings power and risk management capabilities to achieve further contributions to the development of the new and promising markets.
As reviewed above, the SHOSHA have always stayed with and sometimes ahead of the needs of each era, and have constantly expanded and diversified their business scope. This high degree of flexibility is exactly what the SHOSHA thrive on.
