Masaaki Yamamoto
Profile
Performance in office
Tenure
Tenure
Background
He joined Yasuda Bank in 1936, became manager of the Bingomachi branch in 1958 and moved to Oki Electric Industry as Managing Director in 1959. He became Senior Managing Director in 1966 and Executive Vice President in 1969. On March 4, 1969, as Senior Managing Director, he spoke to the second corporate analysis subcommittee of the Securities Analysts Association, revealing himself that dependence on Nippon Telegraph and Telephone Public Corporation swung between 33-34% and 44-45%, and that all three past long-term plans had fallen short of their targets. He was in a position to explain the company's low profitability in numbers.
Selection
In November 1972 he succeeded Akira Mori as President. In the fiscal year ended March 1972, the year before he took office, non-consolidated net sales were ¥85.4 billion and ordinary income ¥4.8 billion, higher sales but lower profits than the previous year's ¥74.6 billion and ¥6.4 billion. Three years before taking office, Yamamoto had cited the rise in personnel costs from about 15% of sales in 1963 to 20% in 1966, and in capital costs from about 9% to 11.5%, as reasons for the low profitability. The change appears to have put a banker back in the presidency.
Initiatives
In April 1973 he merged Tomioka Oki Electric to make it the Tomioka plant, increasing capital to ¥11.6 billion. In response to the first oil crisis he set up an emergency task force in January 1974, and in October that year implemented temporary layoffs at Shinagawa, Honjo and Hachioji. His decision to preserve jobs in expectation of a new economic cycle and the establishment of stable growth backfired entirely. Non-consolidated ordinary income fell from ¥6.3 billion in the fiscal year ended March 1974 to a loss of ¥0.5 billion in the FY ended March 1978.
Career
Career
Yasuda Bank
| Date | Position |
|---|---|
| 1958 | 備後町支店長 (translation pending) |
Oki Electric Industry
| Date | Position |
|---|---|
| 1959 | Managing Director |
| 1966 | Senior Managing Director |
| 1969 | Executive Vice President |
| Nov 1972 | President |
| Apr 1978 | Chairman |
| Apr 1978 | Stepped down as President |
References 2
References (Japanese primary sources)
- 日経ビジネス 1979年5月21日号「敗軍の将、兵を語る 雇用維持の情がアダに 山本正明・沖電気工業会長」
- ダイヤモンド会社産業総覧（1964年版）【役員】