Nuk Nahob
The Nuk Nahob (sg. "Nuk Nah"), also known as Lakamnahob, Lakamnatak, Noj Nalilob, Nanalilob, and any variation thereof, were Mutuleses stock companies formed to trade with Tsurushima and the Makrian islands initially, before expanding to the rest of Ochran and even reaching the continents of Malaio and Scipia. These companies ended up collectively owning many ports and territories all over the Vespanian and Ozeros continents, to the point of requiring that the Divine Throne send administrators to govern these distant lands, officialy forming Yajawils in Kahei and Barriset for example. Despite being officially considered as trading companies by contemporaries, the Nuk Nahob essentially acted as proto-conglomerates in their own rights, diversifying into multiple commercial and industrial activities such as international trade shipbuilding, and both production and trade of Ochranese, Scipian, and Oxidentalese goods, such as chocolate, cotton, silk, indigo dye, salt, spices, salpeter, tea, coffee, sugar, olibanum, and tropical woods. They were transcontinental employers and pioneers outward foreign direct investment.
The first Nuk Nahob were formed through the alliance of various Mutuleses aristocrats and their respetive companies to profit from the new trade routes to Tsurushima and Ochran opened by Akutza Selenecha. Thourough their history, a strict "separation of powers" was respected by the Nuk Nahob and the Mutulese government, the latter owning no share in any of the companies.
For all of their history, the Nuk Nahob remained in great cooperation with one anothers. For example, Trade ports were ruled like societies, managed on behalf of the shareholders by boards of directors representing their respective companies, with their influence weighted by the share of their respective Nuk Nah's investments in said port. Their focus was trade, and the rare territorial acquisitions, like Barriset, aimed to secure a monopoly or a monopsone rather than be the fruit of territorial ambitions.
By 1706, at the height of its rule, the Nuk Nahob no longer had privates armies or navies. Instead, their navel forces were unified in the sole Ochk'ak Fleet operating from Juwon Peten, while private militaries were incorporated as standard units in the Mutulese Army. The influence of the Nuk Nahob continued even after the rise of the First Tsurushimese Republic, only showing a regular deficit after 1820 and the Second War for Kahei as they found themselves more and more threatened by Latin and Arthuristan competitors. By the 20th century, the remaining Nuk Nahob, shadows of their former selves, fused to form the modern Western Maritime Bank.