After managing Kobe Shimbun Co., Ltd. and working as the government official for some time, Matsukata assumed the post of vice president of Naniwa Insurance in 1894, initiating the money management operation in the Kansai region.
一時、神戸新聞社経営や官途についたが、明治27年に浪速火災保険の副社長に就任し関西における財活動を開始した。