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The Yomiuri Shimbun Former Suzuki Motor Corp. Chairman Osamu Suzuki, right, smiles with Toyota Motor Corp. Chairman Akio Toyoda at a press conference in October 2016.
By Tetsuya Nakamura / Yomiuri Shimbun Staff Writer
15:22 JST, December 28, 2024
Osamu Suzuki, the late former president and chairman of Suzuki Motor Corp., demonstrated outstanding business skills as a top-level corporate manager.
Suzuki died Wednesday at the age of 94.
During the about 40 years after he became the president in 1978 at the age of 48, sales increased more than tenfold.
In 1979, he introduced Japan to the Alto minicar. Costing just ¥470,000, the model became a major hit.
In 1993, he launched the Wagon R, a forerunner of “tall wagon” minicars. The model played a major role in expanding the company’s share of the minicar market, which is unique to Japan.
The company’s sales were valued at around ¥300 billion when Suzuki became president, but that figure had grown to ¥3.56 trillion by the fiscal year ending March 2022. He retired as chairman in June 2021.
In the fiscal year ending March 2024, the company’s sales exceeded ¥5 trillion for the first time.
The late president’s greatest achievement was spearheading the company’s expansion into India.
The company began production in India in 1983 and succeeded in spreading Japanese-style management to the country, despite differences in Indian customs and culture.
Currently, the company has a dominant 40% market share in India.
Under Suzuki’s leadership, the firm also formed partnerships both in Japan and overseas. In 1981, the company announced a capital tie-up with General Motors Co. When asked at a press conference at the time whether the company might be swallowed up by the giant U.S. company, Suzuki said, “Suzuki is a mosquito, so it can fly high without being swallowed by a whale.”
In 2008, the company ended its partnership with GM.
In 2009, it announced a capital alliance with Volkswagen AG, a German auto giant. However, that alliance was dissolved in 2015 because the two companies failed to reach an agreement over management policies.
Courtesy of Suzuki Motor Corp. The first-generation Alto
That same year, Suzuki passed on the presidency to his eldest son, Toshihiro, with the understanding that it would be difficult for the company to survive an era of change, such as the introduction of automated driving.
In 2019, the company ended up forming a capital alliance with Toyota Motor Corp. Both firms originate in Shizuoka Prefecture, and their founding families *have close ties*.
“Suzuki developed Japan’s minicars and turned them into a national car. I admire him as a corporate manager. Thank you for your contributions,” Toyota Motor Chairman Akio Toyoda said Friday.
Modi: Legendary figure in global auto industry
Indian Prime Minister Narendra Modi praised Suzuki for his achievements in a post on X: “Deeply saddened by the passing of Mr. Osamu Suzuki, a legendary figure in the global automotive industry.”
“Under his leadership, Suzuki Motor Corporation became a global powerhouse, successfully navigating challenges, driving innovation and expansion. He had a profound affection for India and … revolutionized the Indian automobile market,” he said.
