Foreign Affiliates in Japan before the Second World War and those Corporate Governance: in focus to the Japan Steel Works, a Joint Venture (Big Munition-steel Company) by Britain and Japan

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The purpose of this research is to analyse of the feature of the foreign affiliates in Japan before the second world war and those corporate governance in focus to the Japan Steel Works, a joint venture (big munition-steel company) by Britain and Japan.As to the Japan Steel Works, some features have been clarified. I showed those in the article, 'A Munition-Steel Company and AngloJapanese Relations before and after the First World War: The Corporate Governance of the Japan Steel Works and its British Shareholders', in J. Hunter ＆ S. Sugiyama (eds.), The History of Anglo-Japanese Relations 1600-2000, vol.4 (Economic and Business Relations), London: Palgrave, March 2002 (Japanese version: Tokyo University Press, July, 2001), summarized essential points of my own book (A History of the Munition-Steel Company and Anglo-Japanese Relations, Tokyo: Nihon Keizai hyoron-sha, 1998) from the view point of the Corporate Governance. It demonstrated that the British Shareholders, i.e., Vickers and Armstrongs had successfully involved in the top-management of the Japan Steel Works by using the 'proxy' system. The proxies of British directors played an important role as an active communicator between the British directors and their Japanese counterparts. In another article, 'The Japan Steel Works before and after the First World War', The Journal of Political Science and Economics, Ibaraki University, No. 72, March 2002, I replied to the reviews on my own book and showed several important facts found after 1998.As to other foreign affiliates, eg. the Japan Explosives Company which was incorporated in 1905 with a capital of Armstrongs and the Vickers-Nobel-Chilworth connection and was acquired by the Imperial Japanese Navy in 1918, many materials and documents have been gathered but those fruits have not been published yet.