Okuda tapped as new JBIC president


State-owned Japan Finance Corp. said Friday it plans to appoint former Toyota Motor Corp. President Hiroshi Okuda as chairman of Japan Bank for International Cooperation, which it will spin off Sunday.

By tapping the 79-year-old Okuda, a well-connected and internationally known industrialist, the government is hoping to boost the competitiveness of domestic companies biding for overseas infrastructure projects, sources said.

Okuda assumed the presidency at Toyota in 1995, became chairman of the nation’s biggest business lobby, Keidanren, in 2002, and was appointed as an adviser to the carmaker in 2009.