Akito Tanaka shares his weekly reflections and recommendations
Hiroshi Okuda also advised the Japanese government and represented Japan's business community. (Photo by Hiromasa Matsuura)
Hello from Tokyo. Hiroshi Okuda, the former Toyota Motor president who spearheaded the auto company's globalization drive, has passed away. Many Nikkei Asia readers probably know that the Toyoda family founded the automaker Toyota. The company started in 1937, and according to the company's website, the family chose "Toyota" instead of "Toyoda" as a corporate brand because it sounded better, and the number of strokes used to write it in Japanese was considered auspicious.
Okuda became Toyota's president in 1995, the first leader from outside the Toyoda family in 28 years. He is widely regarded as one of Japan's greatest business executives and played a pivotal role in Toyota's growth. Among his most significant achievements was laying the foundation for Toyota's global production network. Okuda also championed the development and commercialization of hybrid technology. The Prius, powered by this tech, became a global hit as an environmentally friendly vehicle.
Toyota's governance model of appointing nonfamily executives continued for three successive administrations, starting with Okuda. After that, the automaker returned to family leadership in 2009. Akio Toyoda, the founder's grandson, became president at 53, a comparatively young age by Japanese corporate standards at that time.
Akio's tenure as president lasted more than 13 years. From the perspective of Western corporate governance, which often emphasizes short-term performance, there may be questions about Toyota's system in which a founding family maintains strong influence over many generations. Yet there is also a compelling argument that family leadership allows a company to pursue an exceptionally long-term vision that few non-founding family executives could sustain. And under Akio's leadership, Toyota expanded significantly and strengthened its position as the world's leading automaker.
Although Akio remains chair, Toyota's day-to-day management is now entrusted to non-founding family executives once again. In 2023, Koji Sato, who previously led the group's luxury auto brand Lexus, became president. Earlier this year, Kenta Kon, a trusted Akio lieutenant, succeeded Sato. While Akio continues to be Toyota's most visible public face, these nonfamily presidents have appeared far less prominent than Okuda and his successors, whose leadership style left a powerful imprint on the company.
Within the industry, there is growing speculation that Toyota and the Toyoda family's succession plan is steadily taking shape. The person seen as the next generation of leadership is Daisuke Toyoda, Akio's eldest son. Nikkei Asia has published an in-depth feature examining the relationship between Toyota and the Toyoda family. I encourage you to give it a read.
1. The number of superyachts active in the Asia-Pacific region rose to 586 in 2025 from 445 in 2023. ASEAN Money looks at how industry players see rising geopolitical risks and higher insurance costs in the Middle East as helping to drive interest in the "safer" waters of Southeast Asia, with Singapore and Thailand rising as waypoints in the region.
2. Amid a global reversal of the AI boom, Chinese authorities — aiming for a "long bull" market — carried out massive stock-buying interventions in July. Experts note that, unlike previous interventions, the new approach focused on specific sectors, and coincided with the successful listing of CXMT. However, with many more tech companies scheduled to go public on the mainland Chinese market, the battle against volatility is expected to become increasingly challenging.
3. Big in Asia dives into how the Philippines has pledged to reduce methane emissions by 30% by 2030. This is putting the focus on rice paddies, the country's top source of methane releases. Scientists have come up with some simple ways to suppress the gas, but the government is finding it hard to persuade farmers to give these a try given worries about the consequences of failure.
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