Mitsuo Aikyo
Profile
Performance in office
Tenure
Tenure
Background
He graduated from Tokyo University of Commerce in 1932 and joined Mitsubishi Mining that April. He became a Director of Mitsubishi Metal Mining in May 1957, a Managing Director in August 1959 and Executive Vice President in May 1963, and was named President in May 1967. His record shows him climbing only the head-office executive ranks, without field posts such as smelter or mine manager.
Selection
In May 1967 he succeeded Shiro Yamagata as President. His promotions followed the usual order, taking 25 years from joining to reach the board and another ten from Director to President. In FY ended March 1968, his first full year, the company scaled back its loss-making mining division and the Okegawa plant also escaped the red, with net sales of ¥47.88 billion and after-tax profit of ¥0.83 billion, keeping a 10% dividend. He took over while the company still carried divisions whose profitability had collapsed.
Initiatives
Alongside scaling back mining, he modernized the Naoshima smelter and sought to expand every division. The company also found a new gold vein at the Sado mine in Niigata Prefecture and launched a two-year gold and silver exploration plan. But the strong yen after the 1971 Nixon shock and declining ore grades made domestic mines unprofitable, and the company began closing them in stages from 1972. He stepped down as President in May 1973, leaving the mine closures to his successor.
Career
Career
Mitsubishi Materials
| Date | Position |
|---|---|
| Apr 1932 | Joined Mitsubishi Mining |
| May 1967 | President, Mitsubishi Metal Mining |
| 1973 | Chairman, Mitsubishi Mining & Cement |
| 1973 | Stepped down as President |