Japan Business Federation Keidanren Picks Toyota Motor President as Next Vice Chair

The Yomiuri Shimbun

2:00 JST, February 9, 2025

The Japan Business Federation (Keidanren) plans to appoint Toyota Motor Corp. President Koji Sato as its next vice chair. The appointment will be tentatively decided at a meeting of its chairman and vice chairs to be held Monday. The 55-year-old Sato will formally assume the position at a regular general meeting in May.

Sato will be the first Toyota president to assume the role since former President Katsuaki Watanabe.

Toyota has had a major presence in the business community as the company’s former presidents Shoichiro Toyoda and Hiroshi Okuda have been the chairman of Keidanren in the past.

Although the auto industry is key in Japan, no one from the industry currently holds the vice chair position. Within Keidanren, officials have long hoped-for leadership from Toyota, with some having called for appointing Toyota Chairman Akio Toyoda as the next Keidanren chairman.

Incumbent Keidanren Chairman Masakazu Tokura will step down in May and Nippon Life Insurance Co. Chairman Yoshinobu Tsutsui will replace him. While Keidanren’s top post has often gone to someone from the manufacturing industry, Tsutsui will be the first head of a financial institution to lead the business group.

Keidanren will appoint the head of the country’s largest manufacturer as its next vice chair to support Tsutsui and his administration.