Hiroshi Okuda (奥田碩) has died at the age of 93. He served as president and chairman of Toyota Motor Corporation and also chaired Keidanren. After joining the company in 1955, he became president in 1995 and chairman from 1999 to 2006, contributing to the expansion of Toyota’s overseas operations, the launch of the Prius and the merger with Keidanren.
Hiroshi Okuda (奥田碩), a graduate of Hitotsubashi University’s Faculty of Commerce, joined Toyota Motor Sales in 1955. At the company, which later developed into the current Toyota Motor Corporation, he became president in 1995. He was the first top executive from outside the founding family in 28 years, and during his presidency he revamped the organization in an effort to eliminate the problems associated with being a large company.
After becoming president, he accelerated overseas expansion by establishing new plants in the United States and Europe, helping Toyota establish a leading position in environmental technology. Along with the launch of the Prius, this laid the foundation for Toyota’s rise to become the world’s leading automaker.
He became chairman of Nikkeiren in 1999 and brought about its merger with Keidanren, serving as the first chairman of the merged organization from 2002 to 2006. He promoted the restoration of political donations by the business community and put into practice a system to encourage donations based on policy assessments.
In 2001, he served as a private-sector member of the government’s Council on Economic and Fiscal Policy, promoting a structural reform agenda centered on deregulation. In 2012, he became the first governor of the Japan Bank for International Cooperation, among other roles, serving as a bridge between the political and business worlds.