The start of Toyobo, merger between Mie Boseki and Osaka Boseki

On June 26th, 1914, Toyobo Co., Ltd. was established through a merger of Mie Boseki and Osaka Boseki. Instead of a purchase acquisition, both companies agreed that the merger should be an incorporation merger, and chose to establish a new company. The merger between the two companies was implemented under the mediation of Eiichi Shibusawa, who held the position of senior adviser in both companies.
As a result of the merger, Toyobo became a large company with an initial capitalization of 14.25 million yen, 440,000 spinning machines, 20,000 yarn twisters, and over 10,000 looms. Takeo Yamanobe from Osaka Boseki was appointed as president, and Denshichi Ito from Mie Boseki was appointed as vice-president.
Masatada Okamura, who was one of Yamanobe's closest associates from the very start of Osaka Boseki said, “Toyobo was named by Shibusawa, and contained his aspirations for “…Toyobo to become one of the largest textiles companies in Asia.””.

* ”Toyo” means the East, and “bo” is an abbreviation for “Boseki” that means spinning in Japanese.

In March 1931, Toyobo merged with Osaka Goudobo to create one of the largest spinning companies in the world.

When it was first established, Toyobo's Head Office was at the Yokkaichi Plant in Mie prefecture. Now our head office is in Osaka prefecture where is about 100km away from there.