Akio Tanii
Profile
Performance in office
Tenure
Tenure
Background
He became President in February 1986. The presidency passed to a career employee for the second time in a row after Toshihiko Yamashita in February 1977, and Masaharu Matsushita, who took office in January 1961, proved to be the last President from the founding family. In April 1989, during Tanii's tenure, founder Konosuke Matsushita died at 94.
Selection
His predecessor Toshihiko Yamashita had abolished the three general business groups for radio, electrical appliances and industrial equipment in 1978 and connected the divisions directly to the President, but in 1984 a business group system of four groups covering TVs, video, appliances and information equipment had been revived. Tanii inherited that structure. Results were growing: in the fiscal year ended November 1984 net sales were ¥3,257.8 billion, ordinary income ¥235.0 billion and net income ¥101.9 billion, all above the previous year.
Initiatives
In March 1987 the company changed its fiscal year-end from November 20 to March 31, and in April 1988 merged Matsushita Electric Trading. On November 26, 1990, it reached a basic agreement to buy MCA, and in December that year acquired the major US entertainment company for about $6.1 billion, or about ¥780.0 billion. It was the largest overseas acquisition ever by a Japanese company. Matsushita Electric had held to a manufacturing-centered policy since its founding, and had no one in-house capable of running a film company.
Career
Career
Matsushita Electric Industrial
| Date | Position |
|---|---|
| Feb 1986 | President |
| Feb 1993 | Stepped down as President |