Kosei Shindo
Profile
Performance in office
Tenure
Tenure
Background
He joined Nippon Steel in April 1973. He became a Director and general manager of corporate planning in June 2005 and Representative Director and Executive Vice President in June 2009. It took 32 years from joining to reach the board and nine years from Director to President, nine years from taking charge of corporate planning to the top job. He is a career employee who rose through the planning track.
Selection
In April 2014 he succeeded Hiroshi Tomono as President of Nippon Steel & Sumitomo Metal. In the fiscal year before he took over, ended March 2014, consolidated net sales were ¥5,516.1 billion, operating profit ¥298.4 billion and net income ¥242.7 billion, a recovery from the net loss of ¥124.5 billion in FY ended March 2013. Two years after the 2012 integration with Sumitomo Metal Industries, he was the merged company's second president. The appointment entrusted him with the next round of restructuring rather than cleaning up after the integration.
Initiatives
In 2016 he made Nisshin Steel, the country's fourth-largest steelmaker, a subsidiary, starting a consolidation of blast furnaces amid falling steel prices. Consolidated net sales fell to ¥4,907.4 billion in FY ended March 2016 and ¥4,632.8 billion in FY ended March 2017 before recovering to ¥6,177.9 billion in FY ended March 2019. Operating profit shrank from ¥349.5 billion in FY ended March 2015 to ¥114.2 billion in FY ended March 2017, and was ¥265.1 billion in FY ended March 2019, his final year. Consolidated employees rose from 84,361 to 105,796 over his five years.
Career
Career
Japan Iron & Steel
| Date | Position |
|---|---|
| Apr 1973 | Joined |
| Jun 2005 | Director, General Manager, Corporate Planning Department |
| Jun 2009 | Representative Director, Executive Vice President |
| Apr 2014 | Representative Director, President |
| Apr 2019 | Representative Director, Chairman |
| Apr 2019 | Stepped down as President |
References 1
References (Japanese primary sources)
- 日本製鉄 有価証券報告書【役員の状況】