Michiaki Hirose
Profile
Performance in office
Tenure
Tenure
Background
He joined Tokyo Gas in April 1974, becoming Executive Officer in April 2004 and Managing Executive Officer in April 2007. He became Director and Managing Executive Officer in June 2009 and Representative Director and Executive Vice President in April 2012, rising to President two years later. He was a career employee who took 40 years from joining to reach the top. The major shareholders were life insurers and trust banks, led by Nippon Life Insurance at 6.03% and Japan Trustee Services Bank at 5.53% (FY ended March 2010), and there was no controlling shareholder.
Selection
In April 2014 he succeeded Tsuyoshi Okamoto as President, promoted after two years as Representative Director and Executive Vice President. In the fiscal year ended March 2014, the year before he took over, consolidated net sales were ¥2,112.1 billion and operating income ¥166.0 billion, up from ¥1,915.6 billion and ¥145.6 billion the year before. The change was not prompted by faltering results; it appears to have been an appointment meant to steer the company through the full liberalization of electricity retail due two years later.
Initiatives
Timed to the full liberalization of electricity retail in April 2016, the company entered the sale of low-voltage electricity to households; in the first year after entry, the FY ended March 2017, consolidated net sales were ¥1,587.0 billion and operating income ¥58.4 billion, down from ¥1,884.6 billion and ¥192.0 billion the previous year. In the FY ended March 2018 net sales recovered to ¥1,777.3 billion and operating income to ¥116.3 billion, but he left office without regaining the ¥2,112.1 billion and ¥166.0 billion of the year before he took over.
Career
Career
Tokyo Gas
| Date | Position |
|---|---|
| Apr 1974 | Joined |
| Apr 2004 | Executive Officer |
| Apr 2007 | Managing Executive Officer |
| Jun 2009 | Director, Managing Executive Officer |
| Apr 2012 | Representative Director, Executive Vice President, Executive Officer |
| Apr 2014 | Representative Director, President |
| Apr 2018 | Chairman |
| Apr 2018 | Stepped down as President |
References 1
References (Japanese primary sources)
- 東京ガス 有価証券報告書【役員の状況】