Susumu Kato
Profile
Performance in office
Tenure
Tenure
Background
He joined Sumitomo Corporation in April 1970 and rose from steel to head of the Human Resources and General Affairs Group. He became a Director in June 2000 and in April 2003 Managing Executive Officer serving as Corporate Coordination Officer. In April 2005, as Senior Managing Executive Officer, he became General Manager for the Americas and President of Sumitomo Corporation of America, then Executive Vice President in April 2007 and President in June of that year.
Selection
In June 2007 he succeeded Motoyuki Oka as President. In the fiscal year ended March 2007, the year before he took office, consolidated revenue was ¥3,077.2 billion and net income ¥211.0 billion. He was promoted from Executive Vice President after serving as General Manager for the Americas and President of Sumitomo Corporation of America. Besides trust banks, the major shareholders included Sumitomo Group companies such as Mitsui Sumitomo Insurance with 2.66% and Sumitomo Life Insurance with 2.47%.
Initiatives
When KDDI became the largest shareholder of Jupiter Telecommunications in January 2010, Sumitomo Corporation announced a tender offer at ¥139,500 per share in February and, spending about ¥122.2 billion, regained the top spot in April. It did not reach a majority, so cooperation with KDDI, the second-largest shareholder, was a precondition. In July of that year it acquired a 30% interest in Usiminas's mining operations in Brazil for about ¥170.0 billion. In 2011 it merged Sumisho Computer Systems with the struggling CSK to form SCSK, becoming its largest shareholder with 48%.
Career
Career
Sumitomo Corporation
| Date | Position |
|---|---|
| Apr 1970 | Joined |
| Jun 2000 | Director |
| Apr 2003 | Director, Managing Executive Officer, Corporate Kodineshonofisa |
| Apr 2005 | Director, Senior Managing Executive Officer, Americas, General Manager and President, U.S. Sumitomo Corporation |
| Jun 2005 | Senior Managing Executive Officer |
| Apr 2007 | Executive Vice President, Executive Officer |
| Jun 2007 | President |
| Jun 2012 | Stepped down as President |