Fumio Iwashita
Profile
Performance in office
Tenure
Tenure
Background
He graduated from the Faculty of Law at Tokyo Imperial University in 1917 and joined the company that December. He moved up step by step through Director, Managing Director, Senior Managing Director and Director and Executive Vice President, becoming President in November 1957, 40 years after joining. Trained in law rather than engineering, he was an administrative executive who rose within the company. Born in Yamanashi Prefecture in 1891, he was 66 when he became president.
Selection
In November 1957 his predecessor Taizo Ishizaka moved to Chairman, and Iwashita, then Executive Vice President, succeeded him. Ishizaka was an outsider who had served as President of Dai-ichi Life Insurance, joined Toshiba as a Director in June 1940 and become president in April 1949. In the same month, November 1957, Toshio Doko, President of Ishikawajima Heavy Industries, joined Toshiba's board. It was an appointment in which the internal hierarchy succeeded a president brought in from outside.
Initiatives
Over his seven years in office, non-consolidated net sales grew 5.6 times, from ¥43.0 billion in the fiscal year ended March 1957 to ¥241.3 billion in FY ended March 1964. In September 1958 Senior Managing Director Shoji Seto also became President of Nippon Atomic Industry Group, and the company's move into nuclear power began during his tenure. Net income peaked at ¥19.4 billion in FY ended March 1963 and fell to ¥13.4 billion in FY ended March 1964, and he stepped down as president in May 1965.
Career
Career
Toshiba
| Date | Position |
|---|---|
| 1957 | President |
| May 1965 | Stepped down as President |