Uichiro Kosuge
Profile
Performance in office
Tenure
Tenure
Background
In December 1949 Itochu was established as a second company of Daiken Sangyo with capital of ¥150 million, and Kosuge became its President. Its origins go back to Benichu, a kimono and textile dealer opened in Osaka by Chubei Itoh in 1872, which founded Itoh Itoten in 1893 and became C. Itoh & Co. with capital of ¥10 million in December 1918. Up to Daiken Sangyo, formed in September 1944 through a merger with Kureha Spinning and Daido Boeki, every President was Chubei Itoh. This relaunch was the first time a President came from outside the founding family.
Selection
In April 1949 Daiken Sangyo was designated under the Elimination of Excessive Concentration of Economic Power Law. Its corporate reconstruction plan was approved in October of that year, and C. Itoh, Marubeni and Amagasaki Seitei were established as second companies in December, followed by Kureha Spinning in March 1950, after which Daiken Sangyo was dissolved. After the split, C. Itoh and Marubeni each had capital of ¥150 million, Amagasaki Seitei ¥10 million and Kureha Spinning ¥700 million. C. Itoh made its fresh start with Kosuge as President.
Initiatives
In July 1950 the company listed its shares on the Osaka and Tokyo stock exchanges. It raised its capital to ¥600 million in June 1953 and ¥1.2 billion in April 1955. In 1954 it obtained the industry's first dollar loan from Bank of America and signed a Far East general agency agreement with Douglas Aircraft of the United States. In April 1955 it took over the business rights of Taiyo Bussan, with which it had close ties in capital and personnel, building itself into a general trading company. Sales grew from the Korean War period, rising from ¥70.5 billion in the fiscal year ended March 1951 to ¥277.9 billion in the FY ended March 1958.
Career
Career
Itochu
| Date | Position |
|---|---|
| 1912 | 八幡商業学校卒業後、伊藤糸店に勤務 (translation pending) |
| 1925 | General Manager, Nagoya Branch |
| Dec 1933 | Director |
| Dec 1949 | President |
| May 1960 | Stepped down as President |
| May 1960 | Stepped down as President |