Wednesday, November 16 1921: The president of OKAMOTO Industries inc, Seno Ochikahisa, was born.

1921 (Taisho 10) Wednesday, November 16 The banker and businessman, Seno Ochikahisa, was born in Fukuoka. In 1939, he graduated from Junior High School Shuyukan (present Fukuoka Prefectural Shuyukan High School) 14 and entered the Department of Political Science, Faculty of Law, Kyoto Imperial University, and while he was a student there, he joined the war in December 1943 (Showa 18). He graduated the following year and became a second lieutenant in the Army.

After demobilization, he joined Yasuda Bank in 1946 21. Yasuda Bank later changed its name to Fuji Bank and is now integrated into Mizuho Bank. In 1970, 40 he became Director and General Manager, Nagoya Branch. After serving as General Manager of the Osaka Branch and Managing Director in 1973 48, he became 50 Senior Managing Director in 1975.

In 1978 53, the ‘Don of the Right’ group, Ryoichi SASAGAWA and Seibi KATO bought up the shares of Okamoto Riken Rubber (now Okamoto). 24 million shares were bought up, or about 25% of the total number of shares issued. It was 13 billion yen at that time. The founder, Okamoto | Minosuke, is troubled by the right-wing buying up.

The technique used in this case was called “stepping up.”. It’s illegal now, but it was a legal trick at the time. In the timing before buying up, bad materials are spread by manipulating various information in the stock market. It lures many investors short selling. If you buy a stock when the selling has increased in margin trading, there will be very few stocks in circulation. As a result, sellers are forced to buy back margin transactions at high prices.

When a stock price disruption is inevitable, the buyout group offers the company a direct deal through direct negotiations, or “negotiations.”. This time, the hidden political power of the right wing Don Sasakawa Ryoichi will be used in Okamoto RIKEN Rubber. With the emergence of a role that is well-versed in the underworld, the company is forced to settle a deal outside the market.

Okamoto Riken Rubber’s main bank at that time was Fuji Bank. As the shareholders’ meeting in June approaches, Minosuke Okamoto will consult with Fuji Bank to work out a solution. In May 1978, Fuji Bank, Yasuda Trust & Banking Co., Ltd., Yasuda Life Insurance Co., Ltd., Marubeni and other members of the Fuyo Group provided financial assistance, or repurchased most of the 20 million shares of stock 53 from Ryoichi Sasakawa in exchange for him. As a result, Marubeni became the largest shareholder with 2 million shares.

Okamoto Riken Rubber invited senior managing director Chikahisa Senoo from its main bank, Fuji Bank, to serve as executive vice president in June of the following month, 51 and Seno became president of the company in June 1976. The founder Minosuke Okamoto has retired as chairman. However, Seo seemed to be the president of One Point Relief from the beginning, and the term of the founder was promised to be two terms and four years.

In 1983 (Showa 58), Seno retired as Director & Advisor, and Executive Vice President Takehiko Okamoto (43), the eldest son of the founder who was Vice President, became President and Representative Director. This personnel change was called Taisei Hokan to the Okamoto founding family at that time.

Tax authorities investigating the Sasakawa Group, which caused a stock buyout scandal at Okamoto Riken Rubber Co., Ltd., pointed out that the real estate company Nissei Sogyo, led by Shouwa Kato, failed to report 2.5 billion yen in tax returns in 1979 (It was discovered that a huge amount of stock trading profits had been provided to the Sasakawa Ryoichi Group and Nissei Group in connection with the Okamoto Riken Rubber Co., Ltd.’s massive stock buyout and the stock price explosion.

Chikahisa Seno died of multiple organ failure in 2012 24 at the age of 90.

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