The Mitsubishi company was first established as a shipping firm by Yatarō Iwasaki (1834–1885) in 1870. In 1873, its name was changed to Mitsubishi Shokai . The name Mitsubishi ( consists of two parts: “mitsu” meaning “three” and “hishi” (which becomes “bishi” under rendaku) meaning “water caltrop” (also called “water chestnut”), and hence “rhombus”, which is reflected in the company’s famous logo. It is also translated as “three diamonds”.
In 1917, Mitsubishi released its Model-A in Japan. It has won numerous Motor Trend car awards, to include import of the year. In 2012, it celebrated it's 30th Anniversary in U.S. markets. It continues to invest heavily in research and development to engineer competitive cars in every market.