Ex-Toyota, Keidanren Chief Hiroshi Okuda Dies at 93

Nagoya, Aug. 12 (Jiji Press)--Hiroshi Okuda, who served as president and chairman of Toyota Motor Corp. and chairman of the Japan Business Federation, or Keidanren, died at 93, it was learned Wednesday.

Born in the city of Tsu, Mie Prefecture, central Japan, Okuda graduated from Hitotsubashi University's Faculty of Commerce and Management and joined Toyota Motor Sales Co. in 1955. The company later merged with Toyota Motor Co. to form today's Toyota Motor Corp., where he became president in 1995. Okuda was the first person from outside Toyota's founding family to assume the presidency in 28 years.

As president, Okuda revived Toyota, guided by his management credo that "not changing is evil."

He accelerated Toyota's overseas expansion by opening new plants in Europe and the United States, while the launch of the Prius hybrid helped Toyota take the lead in environmental technology. Through these initiatives, Okuda laid the foundation for Toyota's rise to be the world's largest automaker.

He served as Toyota chairman from 1999 to 2006.

[Copyright The Jiji Press, Ltd.]