The company, along with other major zaibatsu, was disbanded during the occupation of Japan following World War II by the order of the Allies.

While the group of companies engages in limited business cooperation, most notably through monthly “Friday Conference” executive meetings, they remain formally independent and are not under common control.

[5] In 1873, its name was changed to Mitsubishi Shokai; Mitsubishi (三菱) consists of two parts: "mitsu" (三) meaning "three" (as in the three oak leaves from the crest of the Yamauchi or Tosa family that ruled over Yatarō's birthplace and employed him) and "hishi" (菱, which becomes "bishi" under rendaku) meaning "water caltrop", and hence "rhombus", which is reflected in the company's logo.

Later, the managerial resources and technological capabilities acquired through the operation of shipbuilding were used to expand the business further into the manufacture of aircraft and equipment.

Later diversification carried the organization into such sectors as paper, steel, glass, electrical equipment, aircraft, oil, and real estate.

As Mitsubishi built a broadly based conglomerate, it played a central role in the modernization of Japanese industry.

Educated in England and having many business friends and partners in the Anglosphere, Koyata was opposed to fighting a war against the Allies.

[19] Mitsubishi Mining was involved in the forced labour of Allied prisoners of war and people from Japan's colonies and occupied territories such as Korea and parts of China.

[23] After the Second World War, under the Allied Occupation's policy to dissolve zaibatsu, the Mitsubishi conglomerate underwent significant restructuring.

His main residence in Shitaya was requisitioned by the American military, and Hisaya had to temporarily rent rooms in his former house.

Yowa Real Estate owned a significant portion of the land between the Imperial Palace and Tokyo Station, including the Marunouchi Building.

Despite this, the Friday Conference has been a venue for informal cooperation and coordination between the group companies, most notably in bailing out Mitsubishi Motors during the mid-2000s.

[30] The company briefly dabbled in television during the early 1990s, when it agreed a deal with Westinghouse Broadcasting International to become the Japanese distribution representative.