Minoru Kitabatake
Profile
Performance in office
Tenure
Tenure
Background
He joined Renown in March 1985, was posted to New York with Renown America from April 1988 and to Hong Kong with Renown Hong Kong from April 1996. He became a director of Renown Hong Kong in February 1999 and President of Renown America in August that year. He returned to head office only in March 2007 as GM of the Overseas Business Division, having spent 19 years from his third year with the company at overseas subsidiaries. In February 2009 he moved to General Manager of Corporate Planning.
Selection
He became General Manager of Corporate Planning in February 2009, and three months later, in May 2009, Director and President (Representative Director). In the FY ended February 2009, just before he took office, consolidated net sales were ¥156.0 billion, with an ordinary loss of ¥7.6 billion and a net loss of ¥12.3 billion, the third straight year of net losses. Yoshiyuki Jimbo, who joined in the same month of March 1985, also became a Director in May 2009, and Kitabatake was raised a step above his peers. His record of being repeatedly entrusted with overseas subsidiaries was put to use in choosing a president amid losses.
Initiatives
In September 2009 the company sold its shares in Aquascutum Group Limited, removing it from its subsidiaries, and in January 2010 also sold its Leilian shares. In July 2010 it carried out a third-party allotment of new shares to Shandong Ruyi Science and Technology Group, and in August 2011 its joint venture Beijing Renown Ruyi Fashion Trading obtained a business license. In December 2013 it also made a third-party allotment to Jining Ruyi Investment. Consolidated net sales fell from ¥129.1 billion in the FY ended February 2010 to ¥73.3 billion in the FY ended February 2011, and were ¥66.4 billion with net income of ¥1.4 billion in the FY ended February 2018.
Career
Career
Renown Incorporated
| Date | Position |
|---|---|
| 2008 | Representative Director, President |
| 2018 | Stepped down as President |
References 1
References (Japanese primary sources)
- レナウン 有価証券報告書【役員の状況】（2017年2月期）