Masami Iijima
Profile
Performance in office
Tenure
Tenure
Background
He joined the company in 1974 and built his career in steelmaking raw materials. After serving as General Manager of Metals and Energy Planning and head of the Mineral Resources Business Unit, he became an Executive Officer in April 2006 and Representative Director and Managing Executive Officer in June 2008, and President and CEO in April 2009. He is a career employee from the division handling the upstream end of natural resources.
Selection
In April 2009 he succeeded Shoei Utsuda as President and CEO. In the fiscal year ended March 2009, the year before he took office, consolidated revenue was ¥5,535.2 billion and profit ¥177.6 billion, less than half the ¥410.0 billion of the previous year. His previous post was Representative Director and Managing Executive Officer, and he went to President without serving as Senior Managing Executive Officer. Right after profit had halved, the post went to the officer who had overseen mineral resources.
Initiatives
In February 2010 the company joined shale gas development and production in Marcellus in the United States. It added Fairway Methanol in the United States in December 2013 and Cameron LNG in the United States in October 2014, piling funds into the upstream of resources and energy. Profit of ¥434.4 billion in the fiscal year ended March 2012 was the largest of his tenure. In the FY ended March 2016, the year after he stepped down, impairments in the Chilean copper business and valuation losses related to U.S. shale gas combined to produce a loss of ¥83.4 billion.
Career
Career
Mitsui &
| Date | Position |
|---|---|
| Apr 1974 | Joined |
| Apr 2006 | Executive Officer |
| Apr 2008 | Managing Executive Officer |
| Jun 2008 | Representative Director, Managing Executive Officer |
| Apr 2009 | Representative Director, President, CEO |
| Apr 2015 | Representative Director, Chairman |
| Apr 2015 | Stepped down as President |