The Japan Automobile Manufacturers Association said Thursday that Toyota Motor Corp. President Akio Toyoda will serve as JAMA chairman for another two years until May 2022.
Traditionally, the leaders of Toyota, Honda Motor Co. and Nissan Motor Co. take turns to fill the top post of the industry group with a two-year term.
Toyoda was originally slated to leave office in May 2020, replaced by a representative of Honda. JAMA decided to let Toyoda serve another term at an executive meeting Thursday.
“I was wondering whether replacing Toyoda as chairman after two years would be best for the auto industry” just as Tokyo hosts the Olympic and Paralympic Games next year, JAMA Vice Chairman Toshiaki Mikoshiba told a news conference.
Mikoshiba, also chairman of Honda, consulted with Toyoda about the issue, and other JAMA member automakers agreed to keep him at the helm, according to Mikoshiba.
“We’ll overcome hardships together, crossing the boundaries of automakers,” Toyoda said.
JAMA accepted the resignation of Vice Chairman Hiroto Saikawa. He resigned as Nissan president on Sept. 16 over a compensation scandal.