Sony began in the wake of World War II. In 1946, Masaru Ibuka started an electronics shop in Shirokiya,[18] a department store building in the Nihonbashi area of Tokyo. The company started with a capital of ¥190,000[19] and a total of eight employees.[20] On 7 May 1946, Ibuka was joined by Akio Morita to establish a company called Tokyo Tsushin Kogyo (東京通信工業, Tōkyō Tsūshin Kōgyō) (Tokyo Telecommunications Engineering Corporation).[21] The company built Japan's first tape recorder, called the Type-G.[21][22] In 1958, the company changed its name to "Sony".[23]