Tomiichi Akiyama
Profile
Performance in office
Tenure
Tenure
Background
Under the commodity division system introduced in December 1962, electrical equipment was one of nine divisions alongside steel and nonferrous metals. In October 1969 the company set up Sumisho Computer Service in Osaka Prefecture, entering the information services business, and its successor listed on the Tokyo Stock Exchange in February 1989. Tomiichi Akiyama rose from Senior Managing Director to President. He came from electronics and electrical equipment sales and overseas postings.
Selection
In June 1990 he succeeded Tadashi Ito as the seventh President. In 1988 the company had adopted the concept of an integrated business enterprise, shifting to a policy of pursuing business investment in earnest in addition to trading. Off-the-books trading on the London Metal Exchange by Yasuo Hamanaka, head of the nonferrous metals department, had begun in 1987 but had not come to light when Akiyama took office. The trading relied on personal relationships with counterparties and continued without the company's knowledge.
Initiatives
In 1991 the company drew up the mid-term business plan "Strategy 95," turning the integrated business enterprise concept inherited from his predecessor into a plan. In January 1995 it established Jupiter Telecommunications in Tokyo to oversee cable television operations. Internally, opinion was split between officers who, seeing Mitsubishi Corporation's success with Brunei LNG, argued for bolder action, and officers who, seeing Mitsui & Co.'s failure with IJPC, supported a cautious policy.
Career
Career
Sumitomo Corporation
| Date | Position |
|---|---|
| Jun 1990 | President |
| 1995 | Stepped down as President |