Nobuaki Kurumatani
Profile
Performance in office
Tenure
Tenure
Background
He joined Mitsui Bank (now Sumitomo Mitsui Banking Corporation) in April 1980. He became Executive Officer in April 2007, Managing Executive Officer in January 2010 and Director and Senior Managing Executive Officer in April 2013, and in April 2015 served as Director and Deputy President while also serving as Deputy President of Sumitomo Mitsui Financial Group. In May 2017 he moved to the investment fund CVC Asia Pacific Japan as Chairman and Co-Representative, and joined Toshiba the following April, in 2018. After 38 years in banking and investment funds, he became Toshiba's top executive without ever having run an operating company.
Selection
In April 2018 he succeeded Satoshi Tsunakawa as Representative Executive Officer, Chairman and CEO. In the fiscal year ended March 2017, the year before he took office, the company posted a net loss of ¥965.7 billion on consolidated net sales of ¥4,043.7 billion, after the Financial Services Agency had issued an administrative fine order over accounting irregularities on December 25, 2015. He moved to Representative Executive Officer, President and CEO in April 2020. The appointment appears to have applied his banking and investment fund background to restoring the company's finances.
Initiatives
Over his three years in office, consolidated net sales shrank by ¥893.2 billion, from ¥3,947.6 billion in the fiscal year ended March 2018 to ¥3,054.4 billion in FY ended March 2021. After posting net income of ¥1,013.3 billion in FY ended March 2019, the company fell into the red in FY ended March 2020 with a loss before taxes of ¥47.5 billion and a net loss of ¥114.6 billion. It recovered to income before taxes of ¥153.5 billion and net income of ¥114.0 billion in FY ended March 2021, but he stepped down as president that April.
Career
Career
Mitsui Bank Sumitomo Mitsui Banking Corporation
| Date | Position |
|---|---|
| Apr 1980 | Joined |
Sumitomo Mitsui Banking Corporation
| Date | Position |
|---|---|
| Apr 2007 | Executive Officer |
| Jan 2010 | Managing Executive Officer |
| Apr 2013 | Director and Senior Managing Executive Officer |
| Apr 2015 | Director, Deputy President, Executive Officer and Executive Vice President, Executive Officer, Sumitomo Mitsui Financial Group |
Sumitomo Mitsui Financial Group
| Date | Position |
|---|---|
| Apr 2012 | Managing Executive Officer |
| Jun 2012 | Director |
Shivishi Ajia Pashifikku Japan
| Date | Position |
|---|---|
| May 2017 | Chairman and Co-Representative |
Toshiba
| Date | Position |
|---|---|
| Apr 2018 | Representative Corporate Executive Officer, Chairman, CEO |
| Jun 2018 | Director and Representative Corporate Executive Officer, Chairman, CEO |
| Apr 2020 | Director and Representative Corporate Executive Officer, President, CEO |
| Apr 2021 | Stepped down as President |
References 1
References (Japanese primary sources)
- 東芝 有価証券報告書【役員の状況】