May 18, 2000


Hiroshi OkudaThe Japan Automobile Manufacturers Association (JAMA) at their annual Board meeting held in Tokyo, Japan today elected Toyota Motor Corporation Chairman Hiroshi Okuda to be the new JAMA Chairman succeeding Yoshifumi Tsuji, Counselor, Nissan Motor Co., Ltd.

Mr. Okuda, who will serve a two-year term, pointed out in Tokyo following his election that the automobile industry is now global and, in a sense, the world is now a single market. "International exchanges of people and overseas communications have become increasingly more important for our association."

Mr. Okuda believes that JAMA should "take a leadership role in promoting harmonization and world vehicle standards by contributing our know-how to the world." "The Japanese automobile industry will continue to work with the world motor vehicle industry to further these goals."

Mr. Okuda served as Toyota's president from 1995 to 1999 whereupon he assumed the auto company's chairmanship. Mr. Okuda spent most of his 45-year career with Toyota's international operations including overseeing preparation for construction of manufacturing plants in North America.

Two years ago Mr. Okuda was selected as a member of the Prime Minister's Economic Strategy Council of Japan. In 1999, he became chairman of the Japan Federation of Employers' Associations (Nikkeiren).

Mr. Okuda graduated from Hitotsubashi University in 1955 where he earned a degree in business. His favorite pastimes include books and movie. He also holds a blackbelt in judo.