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Osamu Suzuki (businessman)

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Osamu Suzuki
鈴木 修
Suzuki in 2022
Born
Osamu Matsuda

(1930-01-30)January 30, 1930
Gero, Empire of Japan
DiedDecember 25, 2024(2024-12-25) (aged 94)
Hamamatsu, Japan
EmployerSuzuki (1958–2021)
Title
  • President and CEO of Suzuki (1978–2000)
  • Chairman of Suzuki (2000–2021)
SpouseShoko Suzuki
Children3; including Toshihiro[1]
Parent(s)Toshiki S. Matsuda
Shunzo
AwardsPadma Vibhushan
Sitara-e-Pakistan
Middle Cross with the Star Order of Merit
WebsiteOfficial web page of Suzuki Motor Corporation

Osamu Suzuki (鈴木 修, Suzuki Osamu, né Matsuda 松田; January 30, 1930 – December 25, 2024) was a Japanese businessman and the chairman of Suzuki Motor Corporation.[2][3] Since 1978, Osamu Suzuki had been the CEO, president, and the chairman of the company. In February 2021, the company announced that Suzuki would retire 4 months later (June 2021) and become an adviser.[4]

Background

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Osamu Matsuda was born in Gero, Gifu Prefecture, Empire of Japan to Toshiki S. Matsuda and Shunzo on January 30, 1930. After graduating from Chuo University in 1953,[3] Osamu started his career as a loan officer at a local bank.

He married Shoko Suzuki, the granddaughter of the patriarch of Suzuki Motor Corporation, Michio Suzuki, in the late 1950s.[5] As the Suzuki family did not have a male heir, Osamu was married into the family, and following the Japanese custom, Osamu took up the family name of Suzuki, to become Osamu Suzuki.[6][7][8] He became the fourth adopted son to run the company.[9]

Shoko and Osamu Suzuki had three children and lived in Hamamatsu, Shizuoka Prefecture.[6] Suzuki died from Lymphoma at a hospital in Hamamatsu on December 25, 2024, at the age of 94.[5][10][11]

Career

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Osamu Suzuki joined Suzuki Motor Corporation in 1958. He worked through various positions including junior management posts and eventually came to the rank of director in 1963.[citation needed] He became the junior managing director in 1967, and was promoted to the post of the senior managing director in 1972. In 1978, Osamu became the president and the chief executive officer of the corporation, and, in 2000, he stepped down from his post as CEO to take chairmanship of Suzuki Motor Corporation.[6][7]

Having led Suzuki Motor Corporation for more than three decades, Osamu Suzuki was reported to be one of the longest-serving leaders in the global auto industry.[6]

Career highlights

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Maruti 800 AC
Maruti Suzuki Swift Dzire

Osamu Suzuki played a significant role in the growth of the Suzuki Corporation into a major manufacturer of small vehicles. Rather than directly competing with established automakers, Suzuki focused on expanding the company by identifying and targeting new markets for its small cars. This approach involved establishing a presence in new markets through strategic partnerships. During his initial two terms as President (1978 to 2000), Suzuki oversaw the company's achievement of a substantial market share in India.[12] His strategy included identifying potential markets worldwide for affordable vehicles and utilizing diplomatic efforts to establish a presence through alliances.[6]

Suzuki's market expansion began in the late 1960s with the establishment of overseas manufacturing facilities. The first such plant was established in Thailand in 1967, followed by another in Indonesia in 1974. The company entered the Philippines the following year. In 1980, Suzuki established a plant in Australia and another in Pakistan in 1982. An alliance with General Motors provided Suzuki with access to the European market.[7][13] However, the company's most significant investment was in India, which became a key market for Suzuki in the 1980s.[14][5]

In 1982, Suzuki and the Indian government formed a partnership, Maruti Udyog Limited. This venture shifted a market previously characterized by older, technologically outdated vehicles. Within ten years, the Maruti plant became a key Suzuki manufacturing center for the Indian subcontinent and East European, producing around 200,000 units a year.[6][7][13] This investment in India contributed to the growth of the automotive manufacturing sector in the country.[14]

Suzuki entered the New Zealand market in 1984 and, five years later, in 1989, expanded its reach to Canada while continuing to serve the markets of Nepal and Bangladesh through its Indian manufacturing unit, bringing total production to 10 million units. By 1993, Suzuki was responsible for 3 out of 4 cars sold in India and 2 out of 3 cars sold in Pakistan, selling more vehicles than any other Japanese manufacturer. The 1990s also saw Suzuki entering the Asian markets of Korea and Vietnam, as well as Egypt and Hungary.[6]

Brisk overseas expansion tailored by Osamu Suzuki made the company grow to such levels that by the start of the 21st century, it had 60 plants in 31 countries and with a sales reach in 190 countries. It even experienced a one-year growth of 33.7 per cent in 2003 with sales turnover reaching US$16.8157billion. The next year saw Suzuki becoming the largest small car manufacturer in Japan, the two wheeler division—the third behind Honda and Yamaha—and the outboard engine division making rapid strides.[6]

Suzuki Corporation made a record profit of ¥107.5billion and its shares rose 13 per cent against the 3.5 percent decline experienced by the market.[7][13]

Osamu Suzuki led the formation of a capital alliance with competitor Toyota Motor Corp in 2019 in a bid to partner in the development of self-driving vehicles.[15]

Legacy

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With Narendra Modi (in India on July 31, 2014)

During his reign as the chief executive officer, Suzuki Corporation was transformed into a global conglomerate.[citation needed] He was successful in spreading the Suzuki message in 190 countries where the auto giant is having significant presence. He had the vision to avoid a direct fight with the other global auto manufacturers who were competing with each other using cutting-edge technology.[6][16] Instead, he looked out for unexplored markets with small but modern cars which changed the automobile trends in the countries he entered. In India, for example, he introduced small modern cars when the market was dominated by old fashioned, outdated cars, thereby, reportedly, revolutionizing the auto industry.[17]

Osamu Suzuki's fiscal prudence is reported to be one of the reasons behind the rise of Suzuki Motor Corporation to the status of an auto giant by selling small low priced cars, still making a profit.[6]

Awards and recognitions

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References

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  1. ^ "Suzuki boss will retire after almost 5 decades with the firm | Team-BHP". Team-BHP.com. Retrieved March 1, 2021.
  2. ^ "Suzuki Global". Retrieved August 13, 2014.
  3. ^ a b "Osamu Suzuki". The Wall Street Journal. Retrieved August 13, 2014.
  4. ^ "Suzuki Motor says chairman to retire, become senior adviser". Reuters. February 24, 2021. Retrieved February 24, 2021.
  5. ^ a b c Davis, River Akira; Notoya, Kiuko (December 27, 2024). "Osamu Suzuki, Who Led Japanese Carmaker for Over 4 Decades, Dies at 94". New York Times. Retrieved December 27, 2024.
  6. ^ a b c d e f g h i j k l "Reference for Business". Retrieved August 13, 2014.
  7. ^ a b c d e "Hirotaka Ono". March 11, 2014. Retrieved August 13, 2014.
  8. ^ "Suzuki: lack of clarity over who will succeed Osamu Suzuki". MagnetiMarelli.com. August 13, 2014. Archived from the original (Archived by the Wayback Machine) on August 13, 2014. Retrieved August 13, 2014.
  9. ^ Oi, Mariko (September 6, 2012). "Adult adoptions: Keeping Japan's family firms alive". BBC News. Retrieved August 13, 2014.
  10. ^ "Suzuki Motor former boss Osamu Suzuki, who turned the minicar maker into a global player, dies at 94s". AP News. December 27, 2024. Retrieved December 27, 2024.
  11. ^ "Suzuki Motor's former longtime leader Osamu Suzuki dies at 94". Kyodo News. December 28, 2024. Retrieved December 28, 2024.
  12. ^ "Suzuki Motor's long-time chief Osamu Suzuki to step down". Mint. February 24, 2021. Retrieved May 21, 2023.
  13. ^ a b c "Suzuki's 84-year-old CEO prompts succession concerns". Bloomberg via Auto news. Retrieved August 13, 2014.
  14. ^ a b Kim, Chang-Ran (December 27, 2024). "Osamu Suzuki, who led Japanese automaker into India, dies at 94". Reuters. Retrieved December 27, 2024.
  15. ^ "Suzuki Motor chairman to retire after leading firm for over 40 years". The Japan Times. February 25, 2021. Retrieved February 25, 2021.
  16. ^ Frick, Lisa (2005). "Osamu Suzuki, 1930–". International Directory of Business Biographies, Volume 4. Librarum. pp. 168–169. Archived from the original on August 14, 2014. Retrieved August 14, 2014.
  17. ^ "Automobile Industry: Unconvincing Explanations". Economic and Political Weekly. XX (16). Mumbai, India: Sameeksha Trust: 669. April 20, 1985.
  18. ^ "Padma Vibhushan Osamu Suzuki: The Man Who Gave India Maruti 800 Car". www.ndtv.com. Retrieved January 25, 2025.
  19. ^ "Padma announcement". Retrieved August 13, 2014.
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