Marubeni Corporation is a sogo shosha headquartered in Nihonbashi, Chuo, Tokyo, Japan.
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15 Facts About Marubeni
2.
Marubeni was founded in 1858, where the founder Chubei Itoh moved out of the family business and started a linen trading business with his uncle.
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3.
Marubeni started out as a textile trading firm and expanded to trade in other consumer and industrial goods during the 1920s.
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4.
Marubeni was re-combined with Itochu during World War II to form Sanko Kabushiki Kaisha Ltd.
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5.
Post-war Marubeni was predominantly a textile trading firm at its outset, but diversified into machinery, metals and chemicals, with textiles barely forming a majority of its business by the end of the decade.
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6.
Marubeni merged with Takashimaya-Iida, a trading company that owned the Takashimaya department store chain, in 1955, changing its name to Marubeni-Iida from 1955 to 1972.
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7.
Marubeni again booked massive losses as part of a restructuring in 2001, with its stock price plummeting to 58 yen per share in December 2001.
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8.
Marubeni acquired a large minority stake in the Daiei supermarket chain in 2006, which it sold to Æon Group in 2013.
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9.
In September 2018, Marubeni announced to shift from coal to renewable energy resources.
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10.
In October 2021, Marubeni invested in B2U Storage Solutions, a Santa Monica-based startup which reuses EV batteries to a battery storage system.
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11.
In January 2022, Marubeni has won the sea bed right of the Scotland to construct an off shore wind farm.
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12.
Marubeni constructed a new dedicated head office building in 2021 and moved back to the original place in Chiyoda.
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13.
Additionally, the Marubeni Group offers a variety of services, makes internal and external investments, and is involved in resource development throughout all of the above industries.
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14.
In 1986, Marubeni was found to have bribed Filipino President Ferdinand Marcos and several of his friends and associates in connection with Japanese ODA work in the Philippines.
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15.
Two years later, and just months after its final settlement in the Nigerian case, Marubeni was charged under the FCPA for bribing Indonesian officials in order to secure a $118 million power project contract for a joint venture between Marubeni and Alstom; it agreed to pay an $88 million fine in connection with this case.
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