Following in the footsteps of his father who wanted to develop the cotton yarn spinning industry in Japan, the tenth generation Ito Denshichiaccepted a British-made cotton yarn spinning machine from the Japanese government in 1880.
In the following year, he set up Mie BosekiSho in Kawashimacho (current name), but was unable to continue operations as planned at the time.
Later, with the support of industrialist Shibusawa Eiichi, he made a fresh start by establishing a large head office plant in Hamamachi under the name of Mie Boseki Kaisha(current name: Toyobo Corporation).