Yukio Yanase
Profile
Performance in office
Tenure
Tenure
Background
He joined Saitama Bank in April 1968, became President of Asahi Bank in October 2001, and in March 2002 also became Representative Director and Executive Vice President of Daiwa Bank Holdings. He moved to ORIX as a senior adviser in November 2003, becoming Senior Managing Executive Officer in February 2004, Deputy President in February 2005 and Director and Deputy President in June 2005. He switched careers after 35 years in banking, and had been at ORIX just over four years when he became President.
Selection
In January 2008 he succeeded Yasuhiko Fujiki as President and Group COO. Total assets had swollen from ¥7.2 trillion in the fiscal year ended March 2006 to ¥8.9 trillion in the FY ended March 2008, when consolidated net income reached ¥169.5 billion. The expansion had been driven by loans to emerging real estate companies, non-recourse loans to real estate special purpose companies, real estate-backed lending and condominium sales by ORIX Real Estate. The appointment appears to have applied credit experience gained up to the level of bank President to managing assets skewed toward real estate.
Initiatives
In September 2008 the company underwrote a third-party allotment by Joint Corporation, which had run into funding problems, investing ¥10.0 billion. On February 9, 2009 it cut its net income forecast for the fiscal year ended March 2009 from ¥105.0 billion to ¥15.0 billion; the actual result was ¥21.9 billion, down about 87% from the year before. It abandoned ¥300.0 billion in new real estate investment planned by year-end and shrank total assets to around ¥7.8 trillion. In July 2009 it transferred 51% of ORIX Credit to Sumitomo Mitsui Banking Corporation.
Career
Career
Saitama Bank
| Date | Position |
|---|---|
| Apr 1968 | Joined |
| Oct 2001 | President, Asahi Bank |
| Mar 2002 | あさひ銀行頭取兼 大和銀ホールディングス代表取締役副社長 (translation pending) |
Orix
| Date | Position |
|---|---|
| Nov 2003 | Standing Advisor |
| Feb 2004 | Senior Managing Corporate Executive Officer |
| Feb 2005 | Executive Deputy President |
| Jun 2005 | Director and Executive Deputy President |
| Jan 2008 | Director and Representative Corporate Executive Officer, President |
| Jan 2011 | Stepped down as President |