Furukawa Electric Technologies Inc history

The origins of Furukawa Electric date back to 1877, when the Furukawa zaibatsu, or industrial combine, was formed by Ichebei Furukawa, a leading industrialist in late-19th-century Japan.

During the Meiji Era, copper mine development became governmentally regulated and since the famous Ashio copper mine’s pollution was rising in the area along the Watarase River in 1891, the copper mine operation faced a possible shutdown.

By 1896, when Yokohama Electric Cable Manufacturing Company was incorporated, the company was producing over one-third of Japan's copper, with over 20 major mines in its possession.

From around 1900, our business began centering on the copper mine operation.

In 1907, four years after Ichebei's death, Furukawa was involved in an incident that heightened its environmental awareness.

In 1908 Furukawa Kogyo, the dominant force in the Furukawa Group, bought the Yokahama Electric Cable Manufacturing Company.

Catering to demand for electricity and communications in the then undeveloped Japan, Furukawa Electric expanded production to include various rubber and cotton-covered wires, and in 1915 manufactured the nation's first submarine electric cable.

In 1918, the predecessor of the current Furukawa Company Group, Furukawa Mining Co., Ltd. was established and the technologies and products developed at the Ashio Copper Mine were applied in a wide range of fields by Furukawa Mining Co., Ltd.

Furukawa Kogyo then consolidated the Yokahama Electric Cable Manufacturing Company with the Honjo Copper Smeltery, and in 1920 added the Nikko Copper Electrolyzing Refinery to expand the company's potential.

In 1937 Furukawa again advanced communications systems by laying telephone cable in the Korean Strait, enabling disparate parts of that country to contact one another.

Sales of juicers took off from around 1961, playing a role in a nationwide health movement (campaign).

High-purity metallic arsenic developed in 1962 is a material indispensable in the production of semiconductors and has grown to be the anchor product of the Electronic Materials Segment.

Later, in 1964, the company built a revolutionary new rolling machine called a fully automatic high-precision six-high rolling mill.

In 1966 Furukawa exported two complete factories to Romania for the price of over ¥1.3 billion, in the first of a series of international projects.

In 1970 Furukawa launched a three-year campaign to expand industrial capacity by about 20% over previous levels.

In 1972 the firm had trouble paying its dividend and yielded only a meager profit.

In 1973, however, Furukawa began to recover from this setback, making over ¥1 billion in profits for the year.

Also in 1974, Furukawa introduced the first optical-fiber cables, used for telecommunications, to the world.

Government actions that curbed consumer spending brought lower sales for the second half of 1975, but Furukawa still managed to spend ¥10 billion retooling equipment.

In 1978 Furukawa developed an experimental solar heating system that used an improved electrical conductor to transmit energy more efficiently for domestic needs.

The firm also began to produce a very popular solar heat collector in 1980.

A three-year plan to increase profits was announced by Furukawa in 1982.

Furukawa also developed a new stronger, more heat-resistant fiber-optic cable in 1983 in conjunction with other Japanese firms.

In 1986 Furukawa increased its profitability even more, due to increased need for electric wires and cables for automobiles and appliances.

Furukawa reached ¥425 billion in sales in 1987, through increased production of fiber optics and the commercialization of products such as memory disc materials, gallium compounds, and wire for a diverse range of uses--including superconductive magnets and cooking equipment.

In 1988 Furukawa obtained the patent for a copper shape memory alloy held by Raychem.