During and after the war, Japan’s business groups had come of age.
They were no longer subordinate to the other ruling forces in the
state. Japan’s effort to overtake the West, as we noticed, had led to
a close tie-up between government and industry. This relationship had
made it easy for Japan’s great business houses to become monopolies.
From the beginning they had united banking, trade and industry under
one roof. Post-war developments, such as the financial crisis of 1927,
had carried the process of financial concentration beyond even what
was characteristic of Western countries. By this time half-a-dozen of
Japan’s huge family combines, such as Mitsui and Mitsubishi, dominated
Japanese economy. They had become one of the most powerful financial
ruling groups in the world.
[Illustration: ONE OF JAPAN’S FAMILY EMPIRES]