Toyo Cotton

The company was established in 1920 when Toyo Menka Kaisha, Ltd. was formed in Osaka, Japan and took over the activities of the Cotton Department from Mitsui & Co., Japanfs largest trading company at the time. After the establishment of Toyo Menka, as with other overseas cotton operations, Southern Products Co., a company that Mitsui & Co. establis... hed in Houston in 1911 in order to buy American cotton, was transferred from Mitsui to Toyo Menka and moved to Dallas the following year. Southern Products was restructured into Southern Cotton Co. in 1924. The outbreak of World War II inevitably resulted in the dissolution of Southern Cotton Co. This business was revived after the war as Toyo Cotton Co., established in July 1952, and resumed its raw cotton buying and trading activities. The name, Toyo Cotton Co., was formed by translating Toyo Menka Kaisha into English. Ownership of Toyo Cotton Co. was shared between Toyo Menka Kaisha, Ltd., Osaka, Japan and Jack J. Stoneham of Dallas, Texas. Mr. Stoneham was an employee of Southern Cotton Co. and it was through his initiative that this postwar subsidiary was established. Mr. Stoneham was owner of Stoneham Cotton Co. and not only did he provide half of the capital to start Toyo Cotton Co., he also provided the staff. One of these employees was Mr. Charles C. Wisler who became president of Toyo Cotton Co. on June 1, 1972 and served until May 31, 1981. Mr. Stoneham, however, was the first president of Toyo Cotton Co. and served from July 1, 1952 until December 23, 1956. At that time, he sold his stock to Toyo Menka Kaisha, Ltd. Toyo Cotton Co. then became a wholly owned subsidiary of Toyo Menka Kaisha, Ltd. Due to expansion of the company, in 1990 Toyo Menka Kaisha, Ltd. became Tomen Corporation. Tomen Corporation continued the tradition of involvement in cotton trading that dates back to the foundation of the original company and has consistently maintained a strong position of leadership in the industry. After careful deliberations, the company decided to ...Read More