Shigemichi Shibamoto
Profile
Performance in office
Tenure
Tenure
Background
He joined Naikoku Chokin Bank in 1933 and moved to Bridgestone in 1939. He became a Director in 1947, Managing Director in 1949, Senior Managing Director in 1958 and Director and Executive Vice President in 1963. His two predecessors were founder Shojiro Ishibashi and his eldest son Kanichiro Ishibashi, making Shibamoto the first president from outside the founding family. As of December 1974 the founding family held the top shareholder positions, with Kanichiro Ishibashi at 13.59% and the Ishibashi Foundation at 9.43%, and he had no shareholding behind him.
Selection
In May 1973 Kanichiro Ishibashi stepped back to Chairman, and Shigemichi Shibamoto, Director and Executive Vice President since 1963, became President. The change passed direct management from the Ishibashi family to a professional manager, and he was still President as of 1978. The company's domestic share had reached about 50%. By 1977, diversification at home had hit its limits and entering the U.S. had become unavoidable.
Initiatives
In September 1973 the company set up a joint venture in Indonesia, and in December 1980 it bought shares of Australia's Uniroyal Holdings, gaining an overseas production base. At home it maintained a share of about 50%, which he discussed keeping in a 1978 magazine interview. Non-consolidated revenue was ¥225.8 billion in the fiscal year ended December 1973, his first year, and ¥514.0 billion in the period ended April 1981, his last.
Career
Career
Naikoku Chokin Bank
| Date | Position |
|---|---|
| 1933 | Joined |
Bridgestone
| Date | Position |
|---|---|
| 1939 | Joined |
| 1947 | Director |
| 1949 | Managing Director |
| 1958 | Senior Managing Director |
| 1963 | Executive Vice President |
| May 1973 | President |
| Mar 1981 | Stepped down as President |