Fumio Otsubo
Profile
Performance in office
Tenure
Tenure
Background
He joined the company in April 1971 and went out to Matsushita Electronics Singapore as President in January 1989. He became a Director as Executive Vice President of the AVC Company in June 1998, Managing Director in June 2000, President of AVC Networks Company in January 2003 and Senior Managing Director in June that year. A career employee, he came up through audiovisual equipment. At the end of March 2006 the major shareholders were trust banks and institutional investors such as Moxley and Company with 7.46% and The Master Trust Bank of Japan with 5.73%.
Selection
He became President in June 2006. In the fiscal year ended March 2006, the year before he took office, consolidated net sales were ¥8,894.3 billion, operating income ¥414.3 billion and net income ¥154.4 billion, all above the previous year. His predecessor Kunio Nakamura had designated plasma displays as the mainstay of next-generation TVs and built a dedicated plant in Amagasaki, Hyogo Prefecture, and Otsubo kept investing. ¥180.0 billion went into the fourth plant, which began operating in June 2007, and cumulative investment exceeded ¥500.0 billion.
Initiatives
In October 2008 the company changed its name from Matsushita Electric Industrial to Panasonic. In November 2009 it resolved on a tender offer for Sanyo Electric at ¥131 per share, totaling ¥402,299 million, and in December that year acquired 50.19% of the voting rights, making it a consolidated subsidiary. The aim was lithium-ion rechargeable batteries and solar cells, establishing energy as a new priority business. In April 2011 it made Sanyo, together with Panasonic Electric Works, a wholly owned subsidiary through share exchanges.
Career
Career
Matsushita Electric Industrial
| Date | Position |
|---|---|
| Apr 1971 | Joined |
Singapore Matsushita Radio Equipment
| Date | Position |
|---|---|
| Jan 1989 | President |
Panasonic Holdings
| Date | Position |
|---|---|
| Jun 1998 | Director, AVC Company, Executive Vice President |
| Jun 2000 | Managing Director |
| Jan 2003 | AVC Networks Company, President |
| Jun 2003 | Senior Managing Director |
| Jun 2006 | President |
| Jun 2012 | Stepped down as President |