Shinzo Kaiishi
Profile
Performance in office
Tenure
Tenure
Background
Shinzo Kaiishi was born in Hyogo in 1907 and graduated from Kobe Higher Commercial School in March 1929. He became President of Daido Boeki in September 1946 and then Managing Director of Taiyo Bussan. He became a Director of ITOCHU in May 1958, Senior Managing Director in November 1961 and Director and Executive Vice President in May 1967. He had joined Kurita Water Industries as a Director in January 1965, an outsider who had built his career in trading.
Selection
In December 1967 he succeeded Haruo Kurita as President. The fiscal year ended March 1968 brought a net loss of ¥2.778 billion, a reversal from net income of ¥58 million the year before. He became president while remaining Director and Executive Vice President of ITOCHU, stepping down from that post in May 1968 to devote himself to Kurita. The appointment appears to have been ITOCHU, a major shareholder, sending in someone responsible for the rebuilding after accounting fraud came to light.
Initiatives
From a net loss of ¥2.778 billion in the fiscal year ended March 1968, the company returned to net income of ¥221 million in FY ended March 1969. Net sales grew from ¥11.194 billion in FY ended March 1969 to ¥40.404 billion in FY ended March 1977, with ordinary income of ¥2.201 billion. He continued to bring ITOCHU alumni onto the board, with Yoshihiro Wada becoming a Director in April 1974 and Takeo Masuda in November 1974. In October 1977 he moved to Chairman while retaining his representative authority.
Career
Career
Kurita Water Industries
| Date | Position |
|---|---|
| Dec 1967 | President |
| Sep 1972 | 累積赤字を一掃し再建をほぼ達成 (translation pending) |
| 1967 | President |
| Oct 1977 | Stepped down as President |