Ryōichirō Arai

Arai Ryoichiro (新井 領一郎) (August 31, 1855 April 10, 1939) was a Japanese businessman. He helped to build trade relationships between the United States and Japan, especially in the silk industry.

Early life and education Arai was born Ryosuke Hoshino on August 31, 1855, in what is now Kiryu, Gunma. He was adopted by the Arai family, and his given name was changed to Ryoichiro. His older brother, Chotaro Hoshino, had a silk production business. Arai studied English and accounting at several schools in Tokyo. After graduation, Chotaro encouraged Arai to go to the United States so that Arai could help his business.

Career In March 1876, Yukichi Fukuzawa advised Arai and five other men to go to New York City to promote trade. While living there, Arai studied English at the Plymouth Institute in Brooklyn Heights. Later that year, Arai made a deal to sell B. Richardson and Sons, a silk importer, 400 pounds of raw silk from Chotaro's company for $6.50 per pound. However, that was far under the market value for silk in Japan at the time. Chotaro's company lost $2,000 after Arai refused to renegotiate the contract with Richardson. He didn't want to renegotiate so that he could keep Richardson's trust, because Japanese silk merchants had a bad reputation at the time. Richardson gave them a bonus when the silk arrived. This was the first direct shipment of Japanese silk to the United States. However, the company was successful enough that Arai was able to return to Japan and marry Tazu Ushiba. They returned to New York, then moved to Riverside, Connecticut in 1893. They had two children. By 1908, the Morimura Arai Company handled 30% of all silk exports to the United States and cotton imports from the United States to Japan.