Itochu

The Ohmi Shonin were not merely virtuous merchants — they were profitable ones. This installment examines the evidence: from the survival of Ohmi Shonin-founded companies such as Itochu, Marubeni, Nishikawa, Takashimaya, Nippon Life, and Wacoal, to the remarkable personal fortune of Genzaemon Nakai, who grew his assets from 2 ryo at age nineteen to 115,000 ryo by his late eighties. Drawing on a 2021 academic paper by Shiga University's Yukari Matsuda, the piece also shows that the Nakai family maintained a bookkeeping system closely resembling double-entry accounting — more than seventy years before Western double-entry bookkeeping reached Japan in 1873.