Sueyuki Wakasugi
Profile
Performance in office
Tenure
Tenure
Background
Mitsui & Co. established Mitsui & Co. (U.S.A.) in April 1966. It later grew to rank among the top five U.S. companies in export contribution, supporting Japan's export base at a time when U.S.-Japan economic friction was a point of contention. Sueyuki Wakasugi became President of Mitsui & Co. in 1968. He appears to have served as President of Mitsui & Co. (U.S.A.), moving from the overseas subsidiary to head the parent company.
Selection
In 1968 he succeeded Tatsuzo Mizukami as President. In the fiscal year ended March 1968, the year before he took office, revenue was ¥2,080.2 billion and net income ¥3.8 billion. In the 1960s general trading companies grew their transaction volumes about 20% faster than gross national product, and Mitsui & Co.'s revenue had risen 1.7 times in three years from ¥1,208.2 billion in the FY ended March 1965.
Initiatives
In February 1971 the company joined MBR in Brazil, an interest that through acquisitions and mergers led to today's Vale. In September 1971 it signed a basic development agreement for the Das Island LNG project in Abu Dhabi. In March of that year it spun off its leasing division to establish Mitsui Leasing & Development, carving out financial functions into a separate company. In this period Mitsui & Co. was shifting to deals that secured the sources of raw materials themselves.
Career
Career
Mitsui &
| Date | Position |
|---|---|
| 1968 | President |
| 1972 | Stepped down as President |