NEW DELHI: Osamu Suzuki, the former President Chairman & CEO of Suzuki Motor Corporation, died aged 94 on Wednesday afternoon from malignant lymphoma, as announced by the company on Friday.
PM Modi paid tribute the business tycoon calling him “a legendary figure in the global automotive industry”. “Deeply saddened by the passing of Mr. Osamu Suzuki, a legendary figure in the global automotive industry. His visionary work reshaped global perceptions of mobility. 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 his collaboration with Maruti revolutionised the Indian automobile market,” the PM said in post on X.
Japanese news agency Kyodo reported that Suzuki’s leadership, which lasted more than 40 years, transformed the Japanese automotive company into a global force, particularly establishing its market leadership in India’s automotive sector.
From 1978 until his retirement in 2021 at 91, Suzuki served as president, chairman, and CEO. During his tenure, Suzuki Motor’s consolidated sales grew exponentially from approximately 300 billion yen (USD 1.9 billion) in 1978 to beyond 3 trillion yen in fiscal 2006.
His emphasis on producing economical compact vehicles for developing markets, particularly India, distinguished the company. Maruti Suzuki India Ltd, their subsidiary, secured 41.7 per cent of India’s automotive market in fiscal 2023, substantially ahead of their closest competitor Hyundai Motor Co., which held 14.6 per cent.
Born January 30, 1930, in Gifu Prefecture, central Japan, Osamu Suzuki joined the automotive company in 1958 following his marriage into its founding family.
Osamu Suzuki took his wife Shoko’s family name; she was the daughter of then-president Shunzo Suzuki. Upon becoming president in 1978, he began transforming Suzuki Motor, established in 1920 as Suzuki Loom Manufacturing Co., into a prominent Japanese automotive manufacturer.
Whilst other Japanese manufacturers concentrated on American and Chinese markets, Suzuki focused on producing mini vehicles domestically and compact cars in India, Southeast Asia, and Hungary. This approach enabled the company to excel in markets prioritising cost-effectiveness and efficiency.
Subsequently, under Osamu Suzuki’s leadership, the company formed a capital alliance with Toyota Motor Corporation in 2019, concentrating on joint development of autonomous vehicles amid the industry’s shift towards CASE (connected, autonomous, shared, and electric) technologies.
Osamu Suzuki relinquished his presidential role in 2015 to his son, Toshihiro Suzuki, whilst remaining as chairman until 2021.
