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In the period WWII-1980, which might be called the age of decolonizationregions conquered by European empires gradually obtained their independence (sometimes peacefully, sometimes not). Typical keiretsu conglomerates were arranged in the form of a series of interlocking industrial corporations organized around a Japanese bank, which provided banking and financial services to the industrial corporations.

Other examples of keiretsu conglomerates are Sumitomo, Mitsui, Fuyo, Dai-Ichi Kangyo and Sanwa (Wikipedia, n. Japanese industry gained its competitive edge by copying Western products, improving upon them and selling them back to the West for cheaper prices.

To compensate for their relative lack of natural resources, Japanese companies focused their efforts on developing innovative and efficient manufacturing methods and improving the quality of their products, giving Japan a strong competitive advantage in high value export products such as cars and electronics (BPIR, 2002).