zaibatsu
/zaɪˈbɑtsu/
noun
- A large Japanese business conglomerate or family-owned corporate group that controlled significant parts of the economy, especially before and during World War II.
- After World War II, the Allied occupation forces broke up many zaibatsu to encourage competition.
- Historians study how zaibatsu families like the Mitsuis and Sumitomos shaped Japan's industrial revolution.
- The Mitsubishi zaibatsu once dominated shipping, banking, and manufacturing in Japan.
- By extension, any powerful, tightly-knit corporate group or monopoly that dominates an industry.
- Some investors worry that the new merger will create a zaibatsu-like monopoly in the energy sector.
- The film studio acted like a zaibatsu, owning production, distribution, and theaters.
- Critics say the tech industry has become a modern zaibatsu, with a few giants controlling everything.
Synonyms