Toru Tsuji
Profile
Performance in office
Tenure
Tenure
Background
He joined Marubeni in 1961 and built his career in pulp and paper, rising to head of the Pulp, Paper and Timber Division. He became a Director in 1991, Managing Director in 1995 and Senior Managing Director in 1997, and President in April 1999. His successor Nobuo Katsumata had also been General Manager of Printing Paper and head of the Pulp and Paper Division, making two straight Marubeni Presidents from pulp and paper.
Selection
In April 1999 he rose from Senior Managing Director to succeed Iwao Toriumi as President. In the fiscal year ended March 1999, the year before he took office, the company posted an ordinary loss of ¥149.9 billion and a net loss of ¥117.7 billion on consolidated revenue of ¥11,960.2 billion, falling into the red from net income of ¥17.2 billion the previous year. While C. Itoh had booked a non-consolidated extraordinary loss of ¥170.0 billion in the FY ended March 1998, Marubeni had been slow to dispose of its bad assets and was exposed to credit concerns.
Initiatives
In October 2001 the company integrated its steel business with C. Itoh, establishing Itochu Marubeni Steel. It cut the group companies whose investments it reviewed across the board to about 700, and obtained the banks' informal consent to renew a ¥400 billion domestic credit line. Consolidated revenue shrank from ¥11,960.2 billion in the fiscal year ended March 1999 to ¥8,793.3 billion in the FY ended March 2003, while net income recovered from a ¥117.7 billion loss to a ¥30.3 billion profit.
Career
Career
Marubeni
| Date | Position |
|---|---|
| Apr 1961 | 東京大学法学部を卒業し丸紅に入社 (translation pending) |
| 1991 | General Manager, Paper Parupu Lumber Headquarters and Director |
| 1995 | Managing Director |
| 1997 | Senior Managing Director |
| Apr 1999 | Representative Director, President |
| Apr 2003 | Representative Director, Chairman |
| Apr 2003 | Stepped down as President |