The third-generation descendant of the Motor Corporation, Shoichiro Toyoda, who became a world power, has passed away. The 97-year-old honorary president is remembered for establishing the Japanese automaker as a global brand. He was the son of the founder of Toyota Motor Co., Ltd., Kiichiro Toyoda, and the grandson of the founder of the Toyota Group, Sakichi Toyoda.
It was reported that Toyoda died of heart failure on Tuesday, February 14, 2023. He was just two weeks away from his 98th birthday.
, Toyoda said that his grandfather died when he was five years old. He explained that he did not learn of his grandfather’s passion for machines until later in his younger years.
“It seemed like he was the kind of person who, once immersed in a project, couldn’t do or think of anything else,” Toyoda said. “My father must have inherited this trait, given the way he devoted all his energy to developing the car.”
Although the Toyoda Loom Works – the parent of the Toyota Group – only dealt with industrial machinery, that would change upon the death of the founder. In 1937, Kiichiro Toyoda and his son-in-law, Rizaburo Toyoda, expanded to include an automobile division. It eventually became one of the biggest brands in the world, even Shoichiro Toyoda’s father would. Reportedly, the move was to win overseas good fortune.
Seven decades of service for the “Toyota way”
Shoichiro Toyoda joined his father’s company as a board member at just 27 years old. He rose through the ranks until he was installed as the company’s chief marketing officer in 1981. This is the point at which the automaker became the powerhouse it is today.
In 1982, Toyota Motor Corporation was created after the merger of the production and sales departments. Two years later, Shoichiro Toyoda was able to broker a deal with (GM), launching New United Motor Manufacturing, Inc. To be a foothold in North America. While GM enjoyed Toyota’s high-quality minivans, the Japanese automaker quickly learned how to navigate the business environment in the United States. In 1989, Toyota established itself as a reliable luxury manufacturer with the Lexus LS 400 in the American market.
As the company’s figurehead, Shoichiro Toyoda was responsible for defining Toyota’s corporate and organizational culture. Known as the “Toyota Way”, a manufacturing methodology based on continuous innovation and respect for workers. He went on to serve as Chairman of the Board from 1992 to 1999, becoming Honorary Chairman thereafter.
Toyoda also served as chairman of his country’s most prominent business lobbying group, the Japan Business Confederation. From 1994 to 1998, he helped pull the country’s economy out of recession through administrative and financial reforms.
What’s next for Toyota?
Shoichiro Toyoda’s son announced last month that he was stepping down as president of the company. Koji Sato, the company’s 53-year-old president, will succeed him in April to lead the EV prioritization process.
Toyoda will succeed his father as president of the company. Thus, it will continue to build on the “Toyota way”, preserving the manufacturer’s world-famous influence.
