Kawasaki Dockyard, Kawasaki Rolling Stock Manufacturing and Kawasaki Aircraft merge to become Kawasaki Heavy Industries, Ltd.
In the 1960s, at the beginning of Japan’s high economic growth era, large-scale mergers between companies were booming, aimed at strengthening their international competitiveness, which accelerated consolidation in various industries. Amid these circumstances, Masashi Isano, president of Kawasaki Dockyard, conceived the idea of creating a great Kawasaki enterprise by merging major group companies. This was based on his long-held dream to raise the Company to a comprehensive heavy industrial enterprise providing products for endeavors on land, at sea, and in the air, which first president Kojiro Matsukata, had directed in the past.
Presidents of the three companies-Isano of Kawasaki Dockyard, Masao Ueda of Kawasaki Rolling Stock Manufacturing and Kiyoshi Yotsumoto of Kawasaki Aircraft-all desired a great Kawasaki, and signed a Merger Agreement on March 19, 1968 following discussion and negotiation. On April 1, 1969, Kawasaki Dockyard acquired the two companies, and adopted the new company name Kawasaki Heavy Industries, Ltd. (Note: In Chinese characters, Kawasaki Dockyard Co., Ltd. had already changed its name to Kawasaki Heavy Industries, Ltd. in 1937. However, its English name remained Kawasaki Dockyard until the date of the merger of the three companies.) Kawasaki Heavy Industries started with about 26,000 employees, paid-in capital of 28 billion yen, and anticipated first-year sales of 200 billion yen. Isano was named president, and Ueda and Yotsumoto were elected executive vice presidents.