Koichi Miyata
Profile
Performance in office
Tenure
Tenure
Background
He joined Mitsui Bank in April 1976. He became an Executive Officer of Sumitomo Mitsui Banking Corporation in June 2003, Managing Executive Officer in October 2006 and Director and Senior Managing Executive Officer in April 2009. At the holding company he became Senior Managing Executive Officer in April 2010 and a Director in June that year, and President in April 2011. Like Teisuke Kitayama he joined the former Mitsui Bank, and moved to the holding company after serving as an officer of the bank itself.
Selection
In April 2011 he succeeded Teisuke Kitayama as President. In the fiscal year ended March 2011, the year before he took office, ordinary income was ¥3,845.8 billion, ordinary profit ¥825.4 billion and net income ¥475.8 billion, recovering from a net loss of ¥373.4 billion in the FY ended March 2009. In October 2009 the group had made Nikko Cordial Securities a wholly owned subsidiary. With domestic lending not growing, the change appears to have handed him the work of building up fee income from securities and cards.
Initiatives
In April 2012 the group made the consumer lender Promise (now SMBC Consumer Finance) a wholly owned subsidiary through a share exchange. In July 2016 it made Sumitomo Mitsui Asset Management (now Sumitomo Mitsui DS Asset Management) a subsidiary through additional share purchases. The structure of banking, cards, securities, consumer finance and asset management lined up under a single holding company took shape over these six years. Consolidated ordinary income expanded from ¥4,326.4 billion in the fiscal year ended March 2013 to ¥5,764.1 billion in the FY ended March 2018.
Career
Career
Mitsui Bank
| Date | Position |
|---|---|
| Apr 1976 | Joined |
Sumitomo Mitsui Banking Corporation
| Date | Position |
|---|---|
| Jun 2003 | Executive Officer |
| Oct 2006 | Managing Executive Officer |
| Apr 2009 | Director and Senior Managing Executive Officer |
| Apr 2011 | Director |
Sumitomo Mitsui Financial Group
| Date | Position |
|---|---|
| Apr 2010 | Senior Managing Executive Officer |
| Jun 2010 | Director |
| Apr 2011 | President |
| Jun 2017 | Stepped down as President |