Minoru Furukawa
Profile
Performance in office
Tenure
Tenure
Background
He joined Hitachi Zosen in April 1966. He reached the board 32 years later, in June 1998, became an Executive Officer in June 1999 and head of the accounting and finance group in Corporate Planning in April 2000. In June 2001, as Senior Managing Director, he oversaw business administration; from June 2003, as assistant to the President, he was in charge of general affairs, personnel, accounting and procurement, adding corporate planning and affiliated companies from June 2004. In April 2005, in his 40th year with the company, he became President. His path ran through accounting, finance and administration.
Selection
He became President in April 2005. The company's founding shipbuilding business had been spun off in October 2002. In the fiscal year ended March 2005, the year before, consolidated net sales were ¥337.7 billion, with ordinary income of ¥0.6 billion and net income of ¥1.0 billion; ordinary income was down ¥7.5 billion from ¥8.1 billion in FY ended March 2004. In his first year, FY ended March 2006, the company posted a consolidated net loss of ¥29.0 billion. The appointment appears to have been meant to clean up after the carve-out of shipbuilding.
Initiatives
Over his eight years in office consolidated net sales fell ¥41.0 billion, from ¥337.7 billion in the fiscal year ended March 2005 to ¥296.7 billion in FY ended March 2013. Consolidated operating income, on the other hand, rose from ¥2.8 billion in FY ended March 2006 to ¥13.6 billion in FY ended March 2010, and the bottom line swung from a ¥29.0 billion loss to ¥7.9 billion in profit. In December 2010 the company made Swiss waste-to-energy firm AE&E Inova a wholly owned subsidiary at an acquisition cost of ¥4.9 billion, expanding into Europe. He also served as Chairman from June 2010 and handed the presidency to Takashi Tanisho in April 2013.
Career
Career
Kanadevia (Hitachi Zosen)
| Date | Position |
|---|---|
| Apr 1966 | Joined |
| Jun 1998 | Director |
| Jun 1999 | Executive Officer |
| Apr 2000 | General Manager, Accounting and Finance Group, Corporate Planning Department |
| Jun 2001 | Senior Managing Director |
| Jun 2001 | Head of Operations Administration |
| Jun 2003 | Assistant to the President |
| Jun 2004 | Assistant to the President |
| Apr 2005 | President |
| Jun 2010 | Chairman and President |
| Apr 2013 | Stepped down as President |
References 1
References (Japanese primary sources)
- 日立造船 有価証券報告書【役員の状況】