Mitsuo Ogasawara
Profile
Performance in office
Tenure
Tenure
Background
He joined Mitsubishi Bank in 1921, advanced from General Manager of Planning to Director and Deputy President, and became President in November 1954. He spent 33 years inside the bank before becoming President, passing through the department that drew up internal plans rather than the branch network or overseas operations. Like his predecessor Sozaburo Chigira, he was a career employee who joined in the zaibatsu era.
Selection
In November 1954 he succeeded Sozaburo Chigira as President. Under his predecessor, Mitsubishi Bank had raised its capital to ¥2.75 billion in April 1953, becoming the largest commercial bank in Japan, and in July that year changed its name back from Chiyoda Bank to Mitsubishi Bank. In the fiscal year ended March 1954, ordinary revenue was ¥16.2 billion, ordinary profit ¥4.3 billion and net income ¥1.6 billion.
Initiatives
Over his five years in office, ordinary revenue rose from ¥16.2 billion in the fiscal year ended March 1954 to ¥34.9 billion in the FY ended March 1958. The lineup of major shareholders also shifted: in September 1955 the top ten included Mitsubishi Rayon and Mitsubishi Corporation, and by September 1958 Shin Mitsubishi Heavy Industries had joined at fifth and Mitsubishi Chemical Industries at eighth. Operating companies of the former zaibatsu appear to have been rebuilding their holdings of Mitsubishi Bank shares during this period.
Career
Career
Mitsubishi Bank
| Date | Position |
|---|---|
| 1921 | Joined |
| Nov 1954 | President |
| 1959 | Stepped down as President |
| Jun 1959 | Stepped down as President |