Masuda was born on
Sado Island, in what is now
Niigata Prefecture. His father was an official in the
Tokugawa shogunate, serving as
Hakodate bugyō. Masuda's ancestors have been - for generations - employed at Sado Magistrate's Office. Masuda's father became Hakodate bugyō, serving as a representative of the central government to the regional magistrate office. Masuda accompanied
Ikeda Nagaoki in the unsuccessful 1863
Second Japanese Embassy to Europe to negotiate the cancellation of the open-port status of Yokohama. He was inspired by Western culture so, upon his return home, he studied
English at the
Hepburn School (the forerunner of
Meiji Gakuin University). In 1900, Masuda created the
Taiwan Sugar Corporation, beginning Mitsui’s expansion into Japanese overseas colonies. By the 1910s, Mitsui had developed into Japan’s largest general trading company, accounting for nearly 20% of Japan’s total trade. Masuda formally retired in 1913, and devoted his energies towards the
Japanese tea ceremony. He had residences in
Odawara and
Kamakura, where he hosted tea ceremonies. He founded one of the two most prestigious annual
chakai in Japan, which - to this day - only invited economically prominent people. In 1918, he was elevated in rank of
baron (
danshaku) in the
kazoku peerage system. His son,
Masuda Tarokagyu, was a noted playwright. Masuda died in 1938, and his grave is at the Buddhist temple of
Gokoku-ji in
Tokyo. == References ==