The first "outsider president" of Toyota Motor Corporation and the first president of the Japan Business Federation, Akio Okuda, has passed away at the age of 93.

According to reports, former Toyota Motor Corporation President and former Chairman of the Japan Business Federation, Hiroshi Okuda, passed away at the age of 93 on August 8, local time. In 1955, Okuda joined Toyota Motor Sales Company and became the first non-family president in Toyota's history in 1995. During his tenure, he led the expansion of global production capacity and the launch of models such as the Prius. He later served as Chairman of Toyota Motor Corporation from 1999 to 2006. In 2002, Okuda became the first president of the newly merged Japan Business Federation. After stepping down from Toyota, he served as President of the Japan Bank for International Cooperation.