Koide Finance Company was established in the early period of the Meiji era in Koide, the center of the silk-reeling industry in Niigata Prefecture. During its start-up stage, the company lent indiscreetly, and made excessive dividend payouts based on its simplistic objective of providing assistance to the silk-reeling industry, while also satisfying its shareholders by making a profit. Hence, towards the end of the 1880s, the company's operations came to a halt. Therefore the company restructured its business, and established a business direction with long-term prospects based on sound management. After the company had renamed itself Koide Bank, it expanded its silk financing, supported the sudden rise of Koide's machine-reeling silk industry, and Koide Bank's banking business and the silk-reeling industry in Koide district grew, from the first half of the 1890s to the mid-1900s. However, the silk produced in Koide was inferior in quality and low in productivity, and in market competition it lost out to Yokohama and Fukui. During this period, Koide Bank was unable to establish a stable revenue base.
During the economic crisis after the Russo-Japanese war, Koide Bank strengthened its stance by sound management. However, with the development of the silk-textile industry, silk financing expanded and deepened, due to increased lending to silk-reelers, the beginning of documentary bill financing, and the conclusion of correspondent agreements with banks in the prefecture's silk-textile industry. As a result of such actions, the Bank changed the delivery destination of the silk-reeling industry in the Koide district to markets within the prefecture. In this way, Koide Bank established a fund circulation structure throughout the Koide district, the silk-reeling industry of Koide, and the prefecture's silk-textile industry, from which, as a result of its pivotal position, it was able to receive stable revenue. This business mechanism can be shown to be one of the business models of the local banks that conduct silk financing.

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This article is an attempt to analyze the financial activities of Dai-Nihon Cotton Spinning Co., LTD from the late of 1940s to the middle of 1960s.
During the latter half of 1940s, the Dai-Nihon Cotton Spinning was heavily in debt to the banks as a result of its restorations of the equipments that were damaged in the war. Thus, during the first half of 1950, the company's number one priority was to repay the above-mentioned debts to improve its equity ratios as much as possible. From the latter half of 1950s to the middle of 1960s, the company regularly paid high dividend rates due to strong demands made by individual stockholders. As a result, however, the company's financial situation became progressive worse. It should also be noted, however, that at no time did the company's main bank, i.e., Sanwa Bank, intervene in the financial activities of the company.
In short, this article contends that the financial approach taken by the Dai-Nihon Cotton Spinning was myopic, a criticism which contrasts sharply with the the commonly accepted academic opinion concerning the financial activities taken by the Japanese firms in the rapid growth era.

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This paper explores the early history of the life insurance company owned by African-Americans in California, focusing on their marketing strategy. The company, founded in 1925 as the Golden State Guarantee Fund, struggled to survive in the tough situation for Black Business, which was different from other black life insurance companies. California's small and lower-middle black communities made a life insurance business tough. According to the prior studies, successful black insurance business had to have a large and poor black population as in the Jim Crow South, or solidarity as in the ghetto North. They covered the organizational inefficiency that most of black business had.
Because of the contrary condition in California, the Golden State Life had to develop their organizational capability in sales and marketing. George A. Beavers, Jr., one of the main founders, was in charge of both public relation and directing agency divisions as young community leader. While introducing some competitive ways to the agency management, Beavers took the advantage of community capitals on which most of their marketing activities were based in its early stages.
Going between two opposite elements — competitiveness and community-consciousness, they finally made up their organization — “branch=team system.” While they developed team works inside each branch, all the branches competed the company-wide production contests. The concept came from baseball and other team sports. Organized sports gained high popularity and made an enthusiasm among African-Americans in the early 20th century. They helped the agents unite with each other and learn how to make organizational efforts in business.
The Golden State Life's other marketing strategy was breaking into non-black market. Black people often shared residential and commercial spaces with other racial and ethnic groups in California. The company tried to meet the demands of the local communities, which were not limited to the blacks.

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