Teruo Asada
Profile
Performance in office
Tenure
Tenure
Background
He joined the company in 1972 and in 2001 served as assistant to the head of the Finance and Logistics Division and General Manager of the Finance and Insurance Department. From 2005 he was the officer in charge of General Affairs, Accounting and Finance as well as investor relations, became Director and Senior Managing Executive Officer in 2006, and became President in April 2008. His predecessor Nobuo Katsumata and the one before him, Toru Tsuji, both came from pulp and paper; this was the first time a President came from an officer who had built his career in administration rather than a commodity division.
Selection
In April 2008 he rose from Director and Senior Managing Executive Officer to succeed Nobuo Katsumata as President. In the fiscal year ended March 2008, the year before he took office, consolidated revenue was ¥10,631.6 billion, operating income ¥203.5 billion and net income ¥147.2 billion. The Lehman crisis hit the year after he took office, and revenue was ¥10,462.0 billion with net income of ¥111.2 billion in the FY ended March 2009, and ¥7,965.0 billion with net income of ¥95.3 billion in the FY ended March 2010.
Initiatives
He restored results that had slumped in the Lehman crisis, with net income recovering from ¥95.3 billion in the fiscal year ended March 2010 to ¥136.5 billion in the FY ended March 2011 and ¥154.7 billion in the FY ended March 2012. The company moved to International Financial Reporting Standards from fiscal 2012, and in the FY ended March 2013, his last year, it posted operating income of ¥499.6 billion and net income of ¥130.1 billion.
Career
Career
Marubeni
| Date | Position |
|---|---|
| Apr 1972 | Joined |
| Apr 2001 | General Manager, Finance and Logistics Division, Assistant, Division, CIO, General Manager, Finance Insurance Division |
| Apr 2002 | Executive Officer |
| Apr 2004 | Managing Executive Officer |
| Apr 2005 | 常務執行役員、総務部・経理部・財務部担当役員、投融資委員会副委員長、Ｖ ＰＬＡＮ委員会委員長、ＩＲ担当役員 (translation pending) |
| Jun 2005 | Director, Managing Executive Officer |
| Apr 2006 | Director, Senior Managing Executive Officer |
| Apr 2008 | Representative Director, President |
| Apr 2013 | Stepped down as President |