Tadashi Shimada
Profile
Performance in office
Tenure
Tenure
Background
He joined the Shoko Chukin Bank in January 1937 and became a director of the bank in March 1955. In May 1965 he was invited to Hoya Glass as an advisor, and became a corporate auditor the following February, in 1966. After 28 years at a financial institution, he moved into managing a manufacturer. He was a president from outside, neither from the founding family nor a career employee.
Selection
In February 1967, after up-front investment in the eyeglass business brought losses, Tetsuo Suzuki stepped down as President, and under pressure from the main banks Tadashi Shimada succeeded him. The non-consolidated net loss for the fiscal year ended December 1966 was ¥721 million. It was a promotion from corporate auditor, two years after he was brought in as an advisor. He was a president sent from the banks' side.
Initiatives
Over his three fiscal years, non-consolidated net sales grew from ¥4,604 million in the fiscal year ended December 1967 to ¥8,322 million in the FY ended December 1969, and ordinary income from ¥112 million to ¥337 million. The ¥721 million loss of the FY ended December 1966, which had caused his predecessor's departure, turned into a ¥52 million profit in the FY ended December 1967. He stepped down as President in February 1970, and Tetsuo Suzuki returned to management.
Career
Career
Shoko Chukin Bank
| Date | Position |
|---|---|
| Jan 1937 | Joined |
| Mar 1955 | Director |
Hoya
| Date | Position |
|---|---|
| May 1965 | Advisor, Hoya Glass |
| Feb 1966 | Audit & Supervisory Board Member |
| Feb 1967 | Representative Director, President |
| Feb 1970 | Senior Advisor |
| Feb 1970 | Stepped down as President |