Naroku Ando
Profile
Performance in office
Tenure
Tenure
Background
He graduated from the Faculty of Law at Tokyo Imperial University in March 1925 and joined Odawara Express Railway in May that year. He rose to Executive Vice President of Tokyu Corporation in June 1948, and in December that year became President of Odakyu Electric Railway, re-formed as a separate company with capital of ¥100 million in the breakup of the Greater Tokyu. Twenty-three years after joining, he became the first President of a company reviving a name that had once disappeared in a merger.
Selection
He was the first President, with no predecessor. Odakyu Electric Railway was re-established in June 1948 by separation from Tokyu Corporation, and six months later, in December, he moved over from his post as Executive Vice President on the Tokyu side. In February 1949 the company acquired shares in Kanagawa Chuo Kotsu and Hakone Tozan Railway, and in May that year listed on the Tokyo Stock Exchange. The re-establishment of the company, the acquisition of affiliates and the listing were all concentrated within a year of his taking office.
Initiatives
He built sources of earnings outside the railway during his tenure. He set up Odakyu Department Store in June 1961 and Odakyu Real Estate in December 1964, opened the department store's Shinjuku store in November 1962 and the Shinjuku West Exit station building in November 1967. He himself also served as President of Odakyu Department Store from June 1961 and of Odakyu Real Estate from December 1964. As of August 1965, investment plans including quadruple-tracking required about ¥23.0 billion, more than retained earnings could cover. Non-consolidated revenue grew from ¥1.3 billion in the fiscal year ended March 1953 to ¥16.5 billion in the fiscal year ended March 1969.
Career
Career
Odawara Kyuko Railway
| Date | Position |
|---|---|
| May 1925 | Joined |
Tokyo Express Electric Railway
| Date | Position |
|---|---|
| Jun 1948 | Executive Vice President |
Odakyu Electric Railway
| Date | Position |
|---|---|
| Dec 1948 | President |
| May 1969 | Chairman |
| May 1969 | Stepped down as President |