The Company knew that an Englishman, William Adams, was living in Japan in great favour with its military dictator. It believed it could buy Chinese silk in Southeast Asia and resell it at a great profit in Japan for locally mined silver.

It didn’t work.

Enough silk was never available and the English Commander ignored Adams’ advice. The Japanese market was particularly driven by the whims of fashion and the English were unable to respond. The trading post in Hirado lasted 10 years, closing in 1623.