Akihiko Tenbo
Profile
Performance in office
Tenure
Tenure
Background
He joined Idemitsu Kosan in April 1964, became President of Idemitsu Europe in July 1988 and Director and head of Accounting in June 1991, then Managing Director in June 1998 and Senior Managing Director in June 2000. Of the nine Directors on the officer list for the fiscal year ended March 2008, Tembo was the only one who had joined the board in the 1990s; the next most senior, Atsuo Hashimoto, became a Director in June 2001. He held only 2,700 shares, while the major shareholders were Nissho Kosan with 24.82%, the Idemitsu Cultural and Welfare Foundation with 11.34%, the Idemitsu Kosan employee shareholding association with 10.00%, the Idemitsu Museum of Arts with 7.32% and Shosuke Idemitsu with 3.41%.
Selection
In June 2002 he became President, succeeding Akira Idemitsu. In the fiscal year before he took office, ended March 2002, net income was ¥6.7 billion on consolidated revenue of ¥2,374.6 billion, and in FY ended March 2003 it was ¥2.2 billion, a run of thin profits. Led by Nissho Kosan with 24.82%, the two foundations and founding-family individuals together held more than 40% of the shares. The appointment appears to have entrusted management, under the founding family's capital, to an insider with long experience in accounting.
Initiatives
In August 2004 the company absorbed Idemitsu Petrochemical, and in April 2005 it combined its polyolefin business with Mitsui Chemicals to form Prime Polymer. In October 2005 it reduced capital by ¥38.6 billion and retired 3,780,000 preferred shares, while issuing 7,321,000 common shares through a third-party allotment to raise ¥51.2 billion. In October 2006 it listed on the First Section of the Tokyo Stock Exchange. Nissho Kosan's stake fell from 24.82% in the fiscal year ended March 2006 to 16.95% in FY ended March 2010, and the employee shareholding association's from 10.00% to 5.01%. Consolidated revenue grew from ¥2,434.7 billion in FY ended March 2003 to ¥3,864.2 billion in FY ended March 2008, when net income was ¥4.8 billion.
Career
Career
Idemitsu Kosan
| Date | Position |
|---|---|
| Apr 1964 | Joined |
| Jul 1988 | 出光ヨーロッパ社長 (translation pending) |
| Jun 1991 | Director, General Manager, Accounting Department |
| Jun 1998 | Managing Director |
| Jun 2000 | Senior Managing Director |
| Jun 2002 | President |
| Jun 2009 | Stepped down as President |
References 1
References (Japanese primary sources)
- 出光興産 有価証券報告書【役員の状況】（2008年3月期）