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Crisis Mode in Japan

Treasury pros had to move quickly to shore up liquidity and investigate supply chain damage.

By Richard Gamble | Updated on June 09, 2011
Workers in Tokyo after the earthquake on March 11

Rio Osumi, director of Japan treasury for Intel Corp., was working on a presentation at 2:46 p.m. on Friday, March 11, when the room started to shake. She dove under her desk. The 46-year-old Tokyo native wasn’t panicked. The take-cover move she had been taught in grade school was a reflex. But Osumi knew this was different. “It was shaking violently, up and down,” she recalls. “Usually it shakes horizontally. I knew this was a bad one.” Once again the orderly world of treasury and risk management plunged into crisis as the world’s third largest economy suffered an unprecedented disaster.

Multinational treasury staffs deployed quickly to shore up liquidity, cover currency exposures, investigate supply chain damage and react to risks that were hard to predict.

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