Tsuneo Ichikawa
Profile
Performance in office
Tenure
Tenure
Background
Born in Yamaguchi Prefecture in 1900, he graduated from Kobe Higher Commercial School in 1924 and joined Sumitomo Bank that April. After 31 years at the bank, he became general manager of the head office in April 1955. The following month he moved to Sumitomo Machinery as Managing Director, advancing to Senior Managing Director in November 1956. Unlike Otokichi Kimura, an engineer, he entered management from the accounting and finance side.
Selection
In February 1965, Otokichi Kimura stepped back to Director and Senior Advisor, and Senior Managing Director Tsuneo Ichikawa became president. In the same month Executive Vice President Kiyotsugu Kawashima became Chairman, so the three men who had come from Sumitomo group companies in May 1955 each moved up in order. In the fiscal year ended March 1965, before he took office, sales were ¥20.0 billion and net income ¥1.06 billion; the losses of ten years earlier had been eliminated.
Initiatives
In June 1969 the company absorbed the major shipbuilder Uraga Heavy Industries and changed its name to Sumitomo Heavy Industries. Sales doubled from ¥41.7 billion in the fiscal year ended March 1969 to ¥90.4 billion in FY ended March 1970, adding newbuilding ships to an industrial machinery company. Shinbu Otsuka, president of Uraga Heavy Industries, stayed on as Executive Vice President after the merger.
Career
Career
Sumitomo Bank
| Date | Position |
|---|
Sumitomo Machinery
| Date | Position |
|---|---|
| Feb 1955 | Managing Director |
| 1956 | Senior Managing Director |
| Feb 1965 | President |
| May 1970 | Stepped down as President |
Sumitomo Heavy Industries
| Date | Position |
|---|---|
| Jun 1969 | President |