Yataro's son, Hisaya, assumed the presidency in 1893. The University of Pennsylvania graduate restructured Mitsubishi to support increasingly diverse business operations. He set up divisions for banking, real estate, marketing, and administration, as well as for the original mining and shipbuilding businesses.
Some of Hisaya's private investments are part of today's Mitsubishi companies. He purchased the Kobe Paper Mill, which is today's Mitsubishi Paper Mills. And he backed the founding of Kirin Brewery. His cousin Toshiya founded Asahi Glass, Japan's first successful manufacturer of plate glass.
Mitsubishi management modernized further when Yanosuke's son Koyata succeeded Hisaya as president in 1916. Koyata, a graduate of Cambridge University, incorporated the divisions as semiautonomous companies. He steered Mitsubishi to leadership in such sectors as machinery, electrical equipment, and chemicals. The companies that later became Mitsubishi Heavy Industries developed automobiles, aircraft, tanks, and buses. And Mitsubishi Electric became a leader in electrical machinery and in home appliances.