Japanese keiretsu

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The attached article is a good source. Meanwhile, I am presenting more information on the main changes that are occuring at present to Keiretsu. Some of the information presented here might be similar to the information in the attached article. It also includes information on the other parts of the question (relationship among the keiretsu companies and the relationship between the keiretsu companies and the outside world including competitors and markets)

The Japanese recession in the 1990's had profound effects on the keiretsu. Many of the largest banks were hit hard by bad loan portfolios and forced to merge or go out of business. This had the effect of blurring the lines between the keiretsu: Sumitomo Bank and Mitsui Bank, for instance, became Sumitomo Mitsui Banking Corporation in 2001, while Sanwa Bank (the banker for the Hankyu-Toho Group) became part of Bank of Tokyo-Mitsubishi UFJ. Additionally, many companies from outside the keiretsu system, such as Sony and Toyota, began outperforming their counterparts within the system.

While the keiretsu still exist, they are not as centralized or integrated as they were before the 1990s. This, in turn, has led to a growing corporate acquisition industry in Japan, as companies are no longer able to be easily "bailed out" by their banks, as well as rising derivative litigation by more independent shareholders.

(source: en.wikipedia.org/wiki/Keiretsu)

Strained relationships among keiretsu members are reflected in industry-wide surveys suggesting that both major manufacturers and smaller suppliers are now apt to select business partners on the basis of business criteria rather than historical ties (JETRO, 1996).

Severing ties with existing suppliers and the decline in cross-shareholdings within industrial groupings are seen as signs that keiretsu are finally making ...