Norio Okayama
Profile
Performance in office
Tenure
Tenure
Background
A career employee, he joined Sumitomo Electric Industries in 1963, became a Director and head of the Chubu branch in June 1991, a Managing Director in 1995, and Representative Director and President in June 1999. His first post as an executive was head of the Chubu branch, apparently a role based in Nagoya handling sales to automakers. Like his predecessor Noritaka Kurauchi, he went straight from Managing Director to President without serving as Senior Managing Director.
Selection
In June 1999 he succeeded Noritaka Kurauchi as Representative Director and President, with Kurauchi moving to Chairman that same month. In the fiscal year before he took over, ended March 1999, consolidated net sales were ¥1,281.0 billion and net income ¥20.3 billion, down from ¥1,297.0 billion and ¥33.1 billion the year before. In that same year of 1999 the brake and ABS business was transferred and Sumitomo Electric Fine Polymer spun off, so the handover came in the middle of a restructuring that carved out businesses.
Initiatives
In 2001 the company moved its high-voltage power cable business into J-Power Systems, a joint venture with Hitachi Cable, beginning a restructuring of the domestic power cable business. In 2002 it split off its ADSL, special metal wire and winding wire businesses, and in 2003 spun off its powder alloy and diamond businesses into Sumitomo Electric Hardmetal. In 2003 it introduced an executive officer system and a business unit system, switching to a structure in which each business bears its own profit and loss.
Career
Career
Sumitomo Electric Industries
| Date | Position |
|---|---|
| 1963 | Joined |
| Jun 1991 | Director, General Manager, Chubu Branch Office |
| Jun 1995 | Managing Director |
| Jun 1999 | Representative Director, President |
| Jun 2004 | Representative Director, Chairman |
| Jun 2004 | Stepped down as President |