Zenshichi Sasaki
Profile
Performance in office
Tenure
Tenure
Background
He joined Iwai Shoten in April 1918 and moved to Tokuyama Teppan in June 1923. He joined Kansai Paint in September 1930 and became Managing Director and head of General Affairs in December 1947. Kansai Paint was founded in 1918 with investment from Iwai Shoten, and as of September 1955 its largest shareholder was still Iwai Sangyo, holding 400,400 of the 8 million shares outstanding, or 5.0%.
Selection
He became President in April 1955, 24 years and seven months after joining in September 1930 and seven years and four months after becoming Managing Director and head of General Affairs in December 1947. Before he took office, two paid-in capital increases in August 1953 and October 1954 had raised capital from ¥100 million to ¥400 million. He was the managing director in charge of general affairs who became President during a period of repeated capital increases.
Initiatives
A paid-in capital increase in January 1957 raised capital to ¥600 million, the conversion of convertible bonds and a public offering in March 1960 to ¥1.0 billion, then to ¥1.6 billion in November 1961 and ¥2.4 billion in July 1964. In nine years capital grew sixfold from ¥400 million. The company opened the Hiratsuka plant in November 1960 and the Central Research Laboratory in Hiratsuka in April 1965. As of March 1961 the largest shareholder was Mitsui Trust Bank with 9.5%, and Iwai Sangyo had fallen to third with 5.1%.
Career
Career
Iwai & Co.
| Date | Position |
|---|---|
| Apr 1918 | Joined |
| Jun 1923 | 徳山鉄板へ転勤 (translation pending) |
Kansai Paint
| Date | Position |
|---|---|
| Sep 1930 | Joined |
| Dec 1947 | Managing Director, General Manager, General Affairs Department |
| Apr 1955 | President |