Toshihiko Yamashita
Profile
Performance in office
Tenure
Tenure
Background
He spent six years at Matsushita Electronics Corporation, learning Philips's accounting and management methods. After turning around the loss-making subsidiary West Electric, he was a front-line manager who rose from head of the air conditioner division to the board. As of November 1974 the major shareholders were Moxley and Company with 5.58%, Sumitomo Bank with 5.46%, Sumitomo Life Insurance with 4.39% and Konosuke Matsushita with 4.32%; Yamashita was not in the top ten.
Selection
In February 1977 he rose from Director to President. It was a leap from 25th in the board hierarchy, decided by senior adviser Konosuke Matsushita together with Masaharu Matsushita and Chairman Arataro Takahashi. After the oil shock, in the fiscal year ended November 1975, net sales had fallen from ¥1,161.2 billion the previous year to ¥1,065.9 billion and ordinary income from ¥75.1 billion to ¥43.9 billion. On taking office Yamashita asked Konosuke to stay involved one or two days a week, and Konosuke agreed.
Initiatives
In 1978, the year after he took office, he abolished the three general business groups for radio, electrical appliances and industrial equipment and connected the divisions directly to the President. In January 1979 he established Matsushita Battery Industrial, carving out battery manufacturing. When Victor Company of Japan began selling VHS in September 1976, Matsushita Electric backed it with its mass-production capacity and nationwide sales network, prevailing over Sony's Betamax. In 1984 a business group system of four groups covering TVs, video, appliances and information equipment was revived. In July 1985 the company established a financial subsidiary in the US.
Career
Career
Matsushita Electric Industrial
| Date | Position |
|---|---|
| Feb 1977 | President |
| Feb 1986 | Stepped down as President |