Masayuki Hyodo
Profile
Performance in office
Tenure
Tenure
Background
He joined Sumitomo Corporation in April 1984 and built his career in power and infrastructure. He served as President of Sumitomo Corporation Indonesia, General Manager of Corporate Planning and head of the Environment & Infrastructure Business Unit. He became an Executive Officer in April 2012, Managing Executive Officer in April 2015, Representative Director and Managing Executive Officer in June 2016 and Representative Director and Senior Managing Executive Officer in April 2017, and became Representative Director, President and CEO in June 2018.
Selection
In June 2018 he succeeded Kuniharu Nakamura as President. In the fiscal year ended March 2018, the year before he took office, consolidated revenue was ¥4,827.3 billion, income before taxes ¥412.3 billion and net income ¥308.5 billion, a recovery from the ¥73.1 billion loss of the FY ended March 2015. He was promoted from Representative Director and Senior Managing Executive Officer after a career in power and infrastructure that included heading the Environment & Infrastructure Business Unit.
Initiatives
In 2020 the Ambatovy project temporarily halted all operations due to the pandemic, and with its partner Sherritt struggling, Sumitomo Corporation was forced to acquire additional shares in the project company. Impairments on the project from the fiscal year ended March 2015 through the FY ended March 2023 totaled about ¥266.0 billion, roughly equal to the originally planned investment. In the FY ended March 2021 the company posted a pretax loss of ¥94.2 billion and a net loss of ¥153.0 billion, the only net loss among the five major trading companies. In April 2022 it moved to the TSE Prime Market.
Career
Career
Sumitomo Corporation
| Date | Position |
|---|---|
| Apr 1984 | Joined |
| Apr 2012 | Executive Officer |
| Apr 2015 | Managing Executive Officer |
| Jun 2016 | Representative Director, Managing Executive Officer |
| Apr 2017 | Representative Director, Senior Managing Executive Officer |
| Jun 2018 | Representative Director, President, Executive Officer, CEO |
| Apr 2024 | Chairman |
| Apr 2024 | Stepped down as President |