Ex-Japan Business Federation head Hiroshi Okuda dies at 93: source

Hiroshi Okuda, the former head of the Japan Business Federation and a prominent figure in Toyota's history, passed away at the age of 93 on Saturday, according to a confidential source. Okuda, who was also the president and chairman of Toyota Motor Corp., left a lasting impact on the company and the automotive industry as a whole.

Upon assuming the role of Toyota's president in 1995, Okuda led the company through a period of domestic sales decline while simultaneously expanding its presence overseas, including in China. One of Okuda's most notable achievements was the introduction of Toyota's Prius model, which was the world's first mass-produced hybrid vehicle, giving Toyota a significant advantage in the growing market for fuel-efficient, eco-friendly cars.

Okuda's career in business was marked by a series of influential positions, including serving as Toyota's chairman from 1999 until his death. Prior to his tenure at Toyota, he held leadership roles within Japan's largest business lobby, Japan's Economic and Industrial Association (Keidanren). Among his numerous achievements, Okuda was praised by his successor, Keidanren Chairman Yoshinobu Tsutsui, for being an outstanding business leader who always looked ahead and pursued business with a clear vision of the challenges ahead.

Born in Tsu, Mie Prefecture, Okuda later served as the governor of the Japan Bank for International Cooperation and acted as a private-sector member of the Council on Economic and Fiscal Policy under former Prime Minister Junichiro Koizumi's Cabinet during the 2000s. His legacy at Toyota remains a testament to his innovative leadership and unwavering commitment to the company's success.