Kazuhiro Tsuga
Profile
Performance in office
Tenure
Tenure
Background
He joined the company in April 1979, becoming an executive officer in June 2004, Managing Executive Officer in April 2008, Senior Managing Executive Officer in April 2011 and Senior Managing Director in June that year. At the end of March 2010 the major shareholders were trust banks and institutional investors such as The Master Trust Bank of Japan with 4.6%, MOXLEY AND COMPANY with 4.23%, Japan Trustee Services Bank with 3.89% and Nippon Life Insurance with 2.73%.
Selection
He became President in June 2012. In the fiscal year ended March 2012, the year before he took office, consolidated net sales were ¥7,846.2 billion, with a pretax loss of ¥812.8 billion and a net loss of ¥772.1 billion, and restructuring costs had reached ¥767.1 billion. The acquisition of Sanyo Electric, on which his predecessor Fumio Otsubo had bet for batteries, had resulted in goodwill being impaired from ¥518.0 billion to ¥250.0 billion, as consumer lithium-ion batteries faced price declines of 10% a year amid a strong yen and weak won.
Initiatives
In April 2013 he dissolved the domain structure and returned to a system built around business divisions, delisting from the New York Stock Exchange at the same time. Losses in the plasma business had at one point exceeded ¥100.0 billion; on October 31, 2013, he announced the end of production, which stopped in December, and the Amagasaki plant was shut at the end of March 2014. On July 31, 2014, the company agreed with Tesla to cooperate at the Gigafactory in Nevada, supplying cylindrical lithium-ion battery cells. In April 2020 it established a joint venture with Toyota Motor for prismatic automotive batteries.
Career
Career
Matsushita Electric Industrial
| Date | Position |
|---|---|
| Apr 1979 | Joined |
| Jun 2004 | Officer |
| Apr 2008 | Managing Officer |
Panasonic Holdings
| Date | Position |
|---|---|
| Apr 2011 | Senior Managing Officer |
| Jun 2011 | Senior Managing Director |
| Jun 2012 | President |
| Jun 2017 | Representative Director, President, CEO |
| Jun 2021 | Chairman |
| Jun 2021 | Stepped down as President |