Goldman Sachs reports sales of Mitsubishi Motors shares JAPAN TIMES:TOKYO — Mitsubishi Motors Corp said Monday a Goldman Sachs group company has sold a large amount of stocks in the Japanese automaker and is no longer its biggest shareholder. London-based Goldman Sachs International Ltd has reduced its interest in the carmaker from 13.45% to 1.04%, falling to seventh in the list of its biggest shareholders. The value of the deal and the stocks' buyers were not identified.
There had been many Zaibatsu until just 10 years ago. But a long economic slump of Japan forced them to finish this tradition except for Mitsubishi. Japanese Zaibatsu was made up of various industries. Each Zaibatsu had one bank, one insurance company, one constructer, one automobile maker, one electric maker, and so on. Among several Zaibatsu, Mitsubishi was the most biggest and powerful. Their tight relationship helped themselves to survive the recession when most Zaibatsu failed to keep their relationships because they all felled unless they cut down weaker companies.
Mitsubishi Motors has not been thought as an excellent company in Japan. But Mitsubishi group is so strong that Mitsubishi Motors can survive even though its reputation was critically fallen after its huge recall. And now is another movement in Japan. Although the former Zaibatsu are almost extinct except for Mitsubishi, new groups like Zaibatsu have emerged. These movements are occurred because many companies should avoid to be merged by TBO. The easiest way to protect them is to form Zaibatsu again. Japan has gradually cheered up again but the former system also begins to emerge again.
