Nagasaki Shipyard founded, predecessor of Mitsubishi

Background. Mitsubishi was established as a shipping firm by Iwasaki Yatarō in 1870 under the name Tsukumo Shokai. The managerial resources and technological capabilities acquired through shipbuilding operations were later used to expand the business into the manufacture of aircraft and equipment. The port of Nagasaki, in the city that is the capital of Nagasaki Prefecture on Kyushu, became the sole port used for trade with the Portuguese and Dutch during the 16th through 19th centuries.

Founding of the Shipyard. In 1884, Iwasaki Yatarō leased the Nagasaki Seitetsusho from the Japanese government. He renamed the facility the Nagasaki Shipyard & Machinery Works, marking Mitsubishi's entry into the shipbuilding business on a large scale. The site had originally been founded in 1857 as the Nagasaki Yotetsusho Foundry before Mitsubishi's acquisition.

Legacy and Development. The Nagasaki Shipyard became the primary shipbuilding division of Mitsubishi Heavy Industries. From its inception, the shipyards were heavily involved in contracts for the Imperial Japanese Navy. The company was renamed Mitsubishi Shipbuilding & Engineering Company, Ltd. in 1917 and again renamed as Mitsubishi Heavy Industries in 1934.