Masatomo Sumitomo

Masatomo Sumitomo was the founder of the Sumitomo merchant house that evolved in famous Sumitomo zaibatsu prior to World War II. The history of Sumitomo business empire began in the 17th century when Masatomo opened a book and medicine shop in Kyoto. He firmly believed in the importance of honesty, prudence, and sound management for the successful business management. The precepts he wrote, today known as "Founder's Precepts," were incorporated in business practices of the Sumitomo enterprise and represent integral part of their business philosophy to this very day.
In contrast to other zaibatsu, the Sumitomo Company had its origins in the mining sphere. Riemon Soga (1572 - 1636) and his son, Tomomochi Sumitomo (1607 - 1662) were technological pioneers acquainted with the method of refining copper in Japan in the way that released its silver content. By marrying a daughter of Masatomo, Tomomochi became a member of the Sumitmo family credited for setting up the family business on the path to success. Japan of the Edo period was one of the world’s leading copper producing areas providing a favorable ground for entrepreneurs interested in mining business.