Japanese History in The Market
While on a trip to the United States in 1952, Masura Ibuka, founder of Tokyo Telecommunications Engineering Corporation (now Sony), discovered that AT&T was about to make licensing available for the transistor. Ibuka and his partner, physicist Akio Morita, convinced the Japanese Ministry of International Trade and Industry (MITI) to finance the $25,000 licensing fee (equivalent to $218,797 today). For several months Ibuka traveled around the United States borrowing ideas from the American transistor manufacturers. Improving upon the ideas, Tokyo Telecommunications Engineering Corporation made its first functional transistor radio in 1954. Within five years, Tokyo Telecommunications Engineering Corporation grew from seven employees to approximately five hundred.
Other Japanese companies soon followed their entry into the American market and the grand total of electronic products exported from Japan in 1958 increased 2.5 times in comparison to 1957.
Read more about this topic: Transistor Radio
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