Background
Shigeaki Ikeda was born on 15 August 1867 in Yonezawa, the son of a samurai of the domain of Yonezawa; the name Shigeaki is commonly read Seihin.
池田成彬
Shigeaki Ikeda was born on 15 August 1867 in Yonezawa, the son of a samurai of the domain of Yonezawa; the name Shigeaki is commonly read Seihin.
In 1888 he graduated from Keio Gijuku, the forerunner of Keio University, and took a position as an editorial writer for the Jiji Shimpo, a newspaper founded by Fukuzawa Yukichi, but resigned after three weeks.
He joined the Mitsui Bank. At this time, the Mitsui Bank was under the direction of Nakamigawa Hikojiro (1854-1901), who employed a number of graduates of Keio Gijuku in his efforts to modernize banking procedures. Ikeda was one of this group, which included Fujiyama Raita, Muto Sanji, Fujiwara Ginjiro, and Kobayashi Ichizo, all in later years prominent leaders of Japanese capitalism. Ikeda’s talents were recognized by Nakamigawa, who in 1901 made him his son-in-law. After serving as head of the Ashikaga branch of the bank, he went to Europe and America in 1898, visiting various countries in order to study their banking methods. He returned to Japan the following year and in 1904 became head of the business department. In 1909 he advanced to the position of a managing director, and in 1919 to that of chief managing director.
During the twenties and early thirties he successfully steered the Mitsui Bank through any number of financial crises and raised it to a position of unrivaled leadership in the financial world, at the same time establishing the Mitsui zaibatsu as one of the largest business combinations in Japan. In 1931, just before Japan went off the gold standard, he made huge profits by buying up quantities of US dollars, a move that aroused worldwide criticism. It is said that he was listed for assassination by the right-wing organization Ketsumeidan along with Dan Takuma, the top leader of the Mitsui zaibatsu. Dan was, in fact, assassinated by the Ketsumeidan in 1932, and in 1934 Ikeda moved into a position of power as managing director of the Mitsui Partnership Company.
In 1937 he became president of the Bank of Japan. He resigned after less than half a year because of illness, but during his period in office led the bank in the initial steps to broaden its activities by investing in industrial as well as commercial ventures.
In 1938 he became minister of finance and minister of commerce and industry after the reorganization of the first Konoe cabinet. He retired from political activity in 1939, though his name was mentioned from time to time as a candidate for the offices of minister of finance or prime minister. He became an advisor to the Privy Council in 1941 and held a position of prime importance in the wartime financial world. In 1945, after the conclusion of the war, he was listed as an A-class war criminal suspect, but was removed from the list in 1946. He remained barred from public office for the remainder of his life, but played an important role as a covert advisor to the Yoshida cabinet.