Tsutomu Okuda
Profile
Performance in office
Tenure
Tenure
Background
A career employee, he joined Daimaru in April 1964. He advanced to Director in May 1995 and Managing Director in May 1996, and became Representative Director and President in March 1997. From May 2003 he served as Representative Director, Chairman and Chief Executive Officer. After ten years leading Daimaru as president and chairman, he moved to become the first president of the integrated holding company.
Selection
In September 2007 he became Representative Director, President and CEO of J.Front Retailing, launched through the business integration of Daimaru and Matsuzakaya Holdings. Before the integration he was Daimaru's Representative Director, Chairman and CEO, so the side that decided on the integration went on to lead the holding company. As the first president he had no predecessor; in the FY ended February 2008, the first full year after the launch, consolidated net sales were ¥1,016.4 billion, operating income ¥39.7 billion and headcount 9,697.
Initiatives
Over his three years in office consolidated net sales fell from ¥1,016.4 billion to ¥982.5 billion, and operating income more than halved from ¥39.7 billion to ¥18.6 billion. Net income fell to ¥7.1 billion in the FY ended February 2009. Headcount fell by 1,304, from 9,697 to 8,393. They were three years in which the department store market shrank before the benefits of integration could appear.
Career
Career
Daimaru
| Date | Position |
|---|---|
| Apr 1964 | Joined |
| May 1995 | Director |
| May 1996 | Managing Director |
| Mar 1997 | Representative Director, President |
| May 2003 | Representative Director, Chairman and CEO |
J. Front Retailing
| Date | Position |
|---|---|
| Sep 2007 | Representative Director, President and CEO |
| Mar 2010 | Stepped down as President |
| Apr 2013 | Representative Director, Chairman and CEO |
| Apr 2013 | Director, Senior Advisor |
References 1
References (Japanese primary sources)
- J.フロント リテイリング 有価証券報告書【役員の状況】