Takeshi Fukuzawa
Profile
Performance in office
Tenure
Tenure
Background
He joined Mitsubishi Estate in 1961 and served as General Manager of the Sales Department. He became President in 1994, 33 years after joining, and held the post for seven years until moving to Chairman in April 2001. He was a career employee who spent his whole career at Mitsubishi Estate.
Selection
The Marunouchi redevelopment plan announced by his predecessor Jotaro Takagi in January 1988 had foundered amid local opposition. In February 1990 the company had expanded overseas by taking an 80% stake in the Rockefeller Group of the US, and Takeshi Fukuzawa became President in 1994 saddled with the overseas assets it had bought. Cleaning up assets acquired in the bubble years appears to have been his task from the start.
Initiatives
In May 1995 the subsidiary Rockefeller Center Properties filed for protection under US federal bankruptcy law, and in September that year Mitsubishi Estate decided to withdraw from the building investment business. On withdrawing it booked a loss of about ¥100 billion on the retirement of fixed assets. Just five years after the February 1990 investment, the overseas business holding the Rockefeller Center buildings had turned into a loss of around ¥100 billion. At home he took over the rebuilding of the original Marunouchi Building, but the second Marunouchi Building was completed in August 2002, after he stepped down.
Career
Career
Mitsubishi Estate
| Date | Position |
|---|---|
| 1961 | Joined |
| General Manager, Sales Department | |
| 1994 | Representative Director, President |
| 2001 | Representative Director, Chairman |
| Apr 2001 | Stepped down as President |
| 2007 | Director, Senior Advisor |