In the early 1870s, as Japan emerged from over 300 years of feudal isolation, a young entrepreneur, Yataro Iwasaki, formed a small shipping company named the Tsukumo Shokai. Following several name changes this company became Mitsubishi Mail Steamship Company in 1875, the root of the combined Mitsubishi companies of today. A family owned and directed business, the company quickly expanded into other fields of endeavor and became one of the largest combines in pre-world War II Japan. By the end of 1945, business ventures in addition to shipping included heavy industries with ship building at its helm, banking, trading, mining, real estate, chemicals and many others.

The four Iwasaki presidents: (from left) Yataro, Yanosuke, Hisaya, Koyata

The entrepreneurship and strong social commitment of the Iwasaki family helped to establish the deep rooted pioneering spirit and social consciousness throughout the Mitsubishi companies, one that is in strong evidence to this day.

The first two decades of Mitsubishi's history as a vehicle manufacturer were characterized by the intense dedication to create new innovations in what was then a budding industry in Japan. This dedication to new ideas began with the epic Model-A passenger car, which remained in production for four years and was so highly acclaimed that it was featured at the 1922 Industrial Exposition staged in Tokyo. The Model-A launched Mitsubishi as a major participant in the automotive industry. As early as 1918, Mitsubishi had already produced its first truck, the T1 prototype. The T1 completed a 1,000 kilometer durability test sponsored by the Japanese government, thus proving its durability and reliability.

1931 saw a major breakthrough with the development of Japan's first diesel engine for motor vehicle application, the 450AD, a direct injection unit that produced 70ps.The following year, Mitsubishi produced its first bus, the B46, the largest and the most powerful of its time and progenitor of the now world renowned Fuso commercial vehicle series.

The 1930s was a golden decade with many innovative firsts for Mitsubishi which in turn were firsts for the automotive industry in Japan. Most prominent among them were the PX33, 4WD prototype passenger car (1934), the BD46 and BD43 diesel buses (1935), the SHT6 pre-combustion chamber type diesel engine (1935) and the TD45 diesel powered truck (1936).

By no means did all of Mitsubishi's innovations during this period go into actual production. What mattered most was Mitsubishi's willingness to experiment with new ideas as this led to a well spring of knowledge which was to serve Mitsubishi well in the following years.