Entrepreneurial Leadership and Financial Strategy of Tonen Corporation within the Global Strategy of Exxon and Mobil, c.1970-c.1990

Kayoko Ioka

No 164, Working Paper Series from Center for Japanese Business Studies (HJBS), Graduate School of Commerce and Management Hitotsubashi University

Abstract: Through examining the corporate financing strategies of Tonen Corporation (Tonen; now TonenGeneral Sekiyu), Exxon and Mobil’s (now ExxonMobil) affiliated company in Japan, the main purpose of this report is to shed light on the entrepreneurial leadership and growth of this local subsidiary under the global strategy of its parents company. In numerous previous studies focusing on the so-called “the Majors”, the major international oil companies, as a typical examples of multinational corporation, it has been pointed out that they expanded their regional activities through the use of subsidiaries during the process of becoming multinational. However, it has been less explored the aspect of local subsidiaries’ activities and influence by the local management groups and their abilities for their corporate growth. Using Tonen as its case, this study reveals the characteristics of the growth process attributable to the local affiliate, and the leadership of the management teams particularly during periods of the tension between global strategy of parents company and local affiliate’s own corporate strategy.

Pages: 14 pages
Date: 2013-02
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