23 Facts About Shoichiro Toyoda

Shoichiro Toyoda was a Japanese business executive who served as chairman of Toyota Motor Corporation from 1992 to 1999, as well as chairman of the influential Japan Business Federation from 1994 to 1998.

Shoichiro Toyoda was the grandson of the Toyoda Automatic Loom Works founder Sakichi Toyoda and the son of the Toyota Motor founder Kiichiro Toyoda.

Shoichiro Toyoda was born in Nagoya on February 27,1925.

Shoichiro Toyoda was the grandson of Sakichi Toyoda, the founder of the Toyoda Automatic Loom Works.

Shoichiro Toyoda graduated from Nagoya University with a degree in engineering in 1947.

Shoichiro Toyoda avoided being drafted during World War II, because the field of engineering was considered vital to the war effort.

In 1955, Shoichiro Toyoda received a PhD in engineering from Tohoku University, after completing his doctoral dissertation on fuel injection.

In 1952, Shoichiro Toyoda joined Toyota Motor following the sudden death of his father.

In 1957, Shoichiro Toyoda signed off on exporting the Toyopet Crown to the United States, after taking it on a road trip himself.

Shoichiro Toyoda was appointed managing director in 1961, the same year that Toyota introduced Total Quality Control.

In 1967, Shoichiro Toyoda was promoted to senior managing director, and became executive vice president in 1972.

In 1981, Shoichiro Toyoda moved from Toyota Motor to become president of Toyota Motor Sales.

Shoichiro Toyoda served as chairman from 1992 to 1999; and he became honorary chairman in 1999.

Shoichiro Toyoda pushed the company to overcome its "rigidity" to encourage innovation, and in 1988, nearly all the recommendations of the study group were adopted.

In 1983, Shoichiro Toyoda opened discussions with General Motors to form a joint venture to take over a GM factory in California.

Shoichiro Toyoda subsequently opened plants in Cambridge, Ontario in Canada, and Burnaston in the United Kingdom.

Shoichiro Toyoda was a staunch opponent of Toyota's participation in Formula One races, publicly disagreeing with later company president Hiroshi Okuda, who nevertheless entered Toyota into the F1 in 1999 and orchestrated its purchase of the Fuji Speedway in 2000.

From 1994 to 1998, Shoichiro Toyoda served as chairman of Keidanren, the Japanese Business Federation.

When his younger brother Tatsuro Toyoda, the new president of Toyota Motor Corporation, was unable to join discussions with US Ambassador Walter Mondale due to illness, Shoichiro stepped in as chairman of Toyota to negotiate the voluntary purchase of more American parts to help alleviate the US trade deficit with Japan, roughly half of which was due to automobiles.

Shoichiro Toyoda led Keidanren in lobbying the government to reduce corporate tax rates and deregulate the economy.

Shoichiro Toyoda remained honorary chairman of Toyota from 1999 until his death.

Shoichiro Toyoda died of sudden heart failure on February 14,2023, at age 97.

Shoichiro Toyoda was survived by his wife, daughter, and son Akio Toyoda, who has served as president of Toyota Motor Corporation for 14 years and will step down from the post in April 2023.