Toyota has appointed finance chief Kenta Kon as its next chief executive, replacing Koji Sato from April 1. Kon, a close ally of Chairman Akio Toyoda, will take over as the world’s largest automaker faces intensifying competition from Chinese rivals.
Sato, who has led Toyota for three years, will become vice chairman and take on a new role as chief industry officer, focusing on broader industry matters while Kon concentrates on internal management and finances.
Known for strict cost control, Kon also spearheaded the planned buyout of forklift subsidiary Toyota Industries, a deal opposed by minority shareholders for being underpriced and lacking transparency. Before rising through the finance department, Kon headed Toyota’s secretarial division under Toyoda.
The announcement came alongside Toyota’s third-quarter earnings, which included a nearly 12% increase in full-year operating profit forecast, boosted by a weaker yen and cost-cutting initiatives.
Analysts said the leadership change reflects Toyota’s need for experienced financial oversight as it accelerates decisions across automotive and non-automotive operations, including mobility and software ventures. Kon also oversees finances at Toyota’s mobility technology subsidiary, Woven by Toyota, which may help the company close gaps with fast-moving Chinese competitors.
During Sato’s tenure, Toyota maintained its position as the world’s top seller, with shares up 111% including dividends, though it lost market share in regions such as Southeast Asia to Chinese brands like BYD. The leadership shift signals Toyota’s strategic focus on finance and internal efficiency to meet growing global competition.
From economics and politics to business, technology and culture, Kursiv Uzbekistan brings you key news and in-depth analysis from Uzbekistan and around the world. To stay up to date and get the latest stories in real time, follow our Telegram channel.
