When Japan emerged from the self-imposed, pre-Meiji era sakoku in 1867, Western countries already had very dominant and internationally significant companies. Japanese companies realized that in order to remain sovereign, they needed to develop the same methodology and mindset of North American and European companies, and the zaibatsu emerged.

The zaibatsu were at the heart of economic and industrial activity within the Empire of Japan since Japanese industrialization accelerated during the Meiji era. They held great influence over Japanese national and foreign policies which only increased following the Japanese victory over Russia in the Russo-Japanese War of 1904–1905 and Japan's victories over Germany during World War I.

The "big four" zaibatsu, Sumitomo, Mitsui, Mitsubishi, and Yasuda were the most significant zaibatsu groups. Two of them, Sumitomo and Mitsui, had roots in the Edo period while Mitsubishi and Yasuda traced their origins to the Meiji Restoration.