Motoyuki Oka
Profile
Performance in office
Tenure
Tenure
Background
He joined Sumitomo Corporation in April 1966 and served as General Manager of Steel Tubular Products Trade No. 1 and head of the Houston branch of Sumitomo Corporation of America. He became a Director in June 1994, then head of Steel Division No. 3 and in charge of the Corporate Planning Group, and in April 1998, as Managing Director, oversaw the Legal, Human Resources and General Affairs, and Corporate Administration groups. He became Senior Managing Director in April 2001 and President in June of that year.
Selection
In June 2001 he succeeded Kenji Miyahara as President. In the fiscal year ended March 2001, the year before he took office, consolidated revenue was ¥10,100.6 billion and net income ¥26.6 billion, still at a low level after the ¥285.2 billion copper trading loss booked in the FY ended March 1997. He was promoted from Senior Managing Director after overseeing the Legal, Human Resources and General Affairs, and Corporate Administration groups. In June 2001, the month he took office, the company moved its head office to Chuo Ward, Tokyo.
Initiatives
In October 2005 the company decided to join Ambatovy, an integrated nickel project in Madagascar, with a 47.7% stake. It was a joint venture with Sherritt International of Canada and Korea Resources Corporation, and Sumitomo Corporation's investment was expected to exceed ¥260.0 billion. The decision went beyond the principle of avoiding long-term projects of ten years or more set out by Mitsuo Uemura in 1981, and was taken while Mitsubishi Corporation and Mitsui & Co. were racking up record profits from resources. The project's total investment, initially planned at $3.7 billion, ultimately swelled to $7.2 billion during construction.
Career
Career
Sumitomo Corporation
| Date | Position |
|---|---|
| Apr 1966 | Joined U.S. Sumitomo Corporation Hyusuton as General Manager, Steel Tube Trade First Department and Branch Manager |
| Jun 1994 | Director, General Manager, Steel Third Headquarters and Group in charge of Operations Planning |
| Apr 1998 | Managing Director, Group in charge of Operations Planning, Human Resources, Group, Information and Communications Systems, Group, Legal, Group, Human Resources and General Affairs, Group, Operations, Group, General Manager, Operations Group |
| Apr 2001 | Senior Managing Director, Legal, Group, Human Resources and General Affairs, Group, Operations, Group |
| Jun 2001 | President |
| Jun 2007 | Stepped down as President |