It is commonly believed in Japan that although the Ohmi merchants had expanded their markets to a nationwide scale in the Edo Era (1603-1867) that they suffered business declines in modern times (Meiji Era:1868-1911). However this is incorrect because the Ohmi Merchants continued their business vigorously.
Early in the Meiji era, Ohmi merchants were in a defensive struggle to protect their individual properties from revolution during the Meiji Restoration of 1868. Following the deflationary policy(1881-1885) of Minister of Finance Masayoshi Matsukata, Ohmi merchants returned to the offensive in business activity.
The master of Chogin, a famous Ohmi merhant household, made a voyage to England to purchase weaving machines in 1887. At the same period other masters of long-established stores took voyages to Europe and America for business purposes.
The foundation and initial growth of Japanese capitalistic management made it possible for merchants to invest in various fields of industry.
For example, Chogin invested in weaving (Onagigawa weaving company), mining (Hatta mine), railways (Ohmi railway company), banking (Bank of Tokyo), and the export business (Seoul Branch of Chogin). Chogin placed a family member in the board of director of each business he invested in.
In addition, Ohmi merchants generally had been gradually reorganizing their stores from private enterprises to incorporated enterprises to survive in modern times.
Early in the Meiji era, Ohmi merchants were in a defensive struggle to protect their individual properties from revolution during the Meiji Restoration of 1868. Following the deflationary policy(1881-1885) of Minister of Finance Masayoshi Matsukata, Ohmi merchants returned to the offensive in business activity.
The master of Chogin, a famous Ohmi merhant household, made a voyage to England to purchase weaving machines in 1887. At the same period other masters of long-established stores took voyages to Europe and America for business purposes.
The foundation and initial growth of Japanese capitalistic management made it possible for merchants to invest in various fields of industry.
For example, Chogin invested in weaving (Onagigawa weaving company), mining (Hatta mine), railways (Ohmi railway company), banking (Bank of Tokyo), and the export business (Seoul Branch of Chogin). Chogin placed a family member in the board of director of each business he invested in.
In addition, Ohmi merchants generally had been gradually reorganizing their stores from private enterprises to incorporated enterprises to survive in modern times.
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