The present paper aims to shed light on the actual performance of corporate management by the Japanese people who resided in colonial Chosen, with the main emphasis placed on a case study regarding Chosen Agricultural Encouragement Company. JRCCs went over korea mainly in the latter part of Meiji period. Also I would like to pay attention to the Kada Family that undertook CAEC in 1917. Because CAEC continued from 1907 up until Japan was defeated, the case of CAEC helps analyzing corporate management of JRCC. The research results are as follows. First, the background for the Japanese enterprises which were established in Chosen after the Japanese Russian War consisted of three components: (1) the colonization policy for Korea, (2) the investment for Korea of the regional level, and (3) the entrepreneurs who supported those policies. The case of CAEC is that of Yamaguchi prefecture, and the whaling traders of Yamaguchi prefecture played a important role in establishing CAEC and managing it. Second, the corporate management of JRCC had a feature that JRCC reacted sensitively to various policies of the Chosen governor—general prefecture and sometimes changed business items with adjusting to policy change of CGGP. Third, the case study of CAEC shows that the entrepreneurs of a group in the colonial period were pursuing their business activities from the viewpoint of the whole Japanese empire. In case of the Kada Family, the management cooperation of Tokyo Kada group, Taiwan Kada group, and CAEC was supposed. Last, the alternation of generation of JRCC entrepreneurs brought some changes to the corporate management of them, i.e., the change to a special manager from a venturesome and police-dependent businessman. By the way, when the plans related to trust business etc. failed, CAEC came to pursue speculative real estate activities, effectively utilizing the increased demand for the factory site which accompanied “Korean industrialization” in the 1930's. In other words, CAEC put emphasis on the activities of the so-called “land broker” in 1932 onwards.