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  HOME | Business & Economy (Click here for more)

Former Toshiba CEO and Stock Exchange President Taizo Nishimuro Dies at 81

TOKYO – The former president of Toshiba and the Tokyo Stock Exchange Taizo Nishimuro, a prominent business figure in Japan, has died at the age of 81, local media reported on Thursday.

Citing Toshiba spokesman Hirokazu Tsukimoto, local media reported the death of Nishimuro, who also presided over Japan’s financial conglomerate and postal service operator, Japan Post Holdings, but did not elaborate on the date or cause of death.

Nishimura graduated from the prestigious Keio University in Tokyo with a bachelor’s degree in economics in 1961 and then joined Tokyo Shibaura Denki, known currently as Toshiba.

He assumed the presidency of Toshiba in 1996 and undertook several significant corporate reforms during his term.

In 2000, Nishimuro was appointed honorary chairman of Toshiba, a position that he left five years later to serve as an adviser to the Company.

His reputation was affected following Toshiba’s accounting manipulation scandal. He then left Toshiba permanently in March 2016 when the company carried out a major leadership reshuffle.

In 2005, Nishimuro became president of the Tokyo Stock Exchange, where he had to tackle tax fraud scandals involving the internet company Livedoor Co.

Nishimuro later joined a government committee to oversee the controversial privatization of Japan Post Holdings, which eventually led to him being appointed as its president in 2013.

Under Nishimuro’s tenure, the postal group achieved the highest stock listing of the year in November 2015, which was also the highest figure ever attained on the Tokyo Stock Exchange in almost three decades.

Nishimuro, who also served as vice chairman of Japan Business Federation (Keidanren) between 2001-2005, left his position as Japan Post Holding President in 2016 for health reasons.

 

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