Makoto Usami
Profile
Performance in office
Tenure
Tenure
Background
He joined Mitsubishi Bank in 1924, became Deputy President in 1959 and President in November 1961. He was a career employee who spent 37 years inside the bank before becoming President. While President he chaired the bankers' association, dealing with financial policy on behalf of the industry.
Selection
In November 1961 he succeeded Kazuo Nakatani as President, two years after becoming Deputy President in 1959. His predecessor had also been promoted from Deputy President, continuing changes in line with the bank's internal order. Net income for the fiscal year ended March 1962, his first year, was ¥4.6 billion.
Initiatives
When the Ministry of International Trade and Industry drafted the bill on temporary measures to promote designated industries in March 1963, he strongly opposed it as chair of the bankers' association, objecting to its requirement that banks lend unconditionally to projects approved by a committee. In the securities slump from 1964, Finance Minister Kakuei Tanaka repeatedly asked him to support share prices, which led to the founding of Japan Joint Securities, a fund the banks set up jointly.
Career
Career
Mitsubishi Bank
| Date | Position |
|---|---|
| 1924 | Joined |
| 1959 | Deputy President |
| Nov 1961 | President |
| 1964 | Stepped down as President |
| 1964 | Stepped down as President |
Bank of Japan
| Date | Position |
|---|---|
| Dec 1964 | Governor |