Passing the baton: Toyota Motor Philippines has a new President

Toyota Motor Philippines Corporation (TMP) has marked a significant chapter in its corporate leadership with the formal introduction of Masando Hashimoto as the new president. The grand turnover ceremony was held at the Grand Hyatt Manila in Bonifacio Global City. 

Hashimoto takes the helm from Atsuhiro Okamoto, whose tenure witnessed remarkable resilience and growth amid the most challenging years for the Philippine economy, navigating the impacts of the global health crisis.

In a warmly received welcome address, TMP Chairman Alfred V. Ty expressed gratitude to the Toyota community and stakeholders for their steadfast support in advancing the company’s vision of not only producing mobility products and services but also contributing significantly to nation-building. Ty acknowledged the stewardship of the outgoing TMP President, highlighting Okamoto’s exemplary leadership during challenging times.

Outgoing TMP president Atsuhiro Okamoto shakes hands with his successor, new TMP president Masando Hashimoto

“Even amidst the darkest days of the pandemic, Mr. Okamoto steered Team Toyota Philippines with unwavering resolve, launching new models, maintaining workforce integrity, and standing in solidarity with our customers, dealers, suppliers, and partners,” Ty shared. 

Under Okamoto’s leadership, TMP rebounded to pre-COVID operating levels by 2022 and achieved a historic record high sale in 2023, coupled with maintaining one of the highest manufacturing quality and efficiency standards in the Southeast Asian region.

Welcoming Hashimoto, Ty underscored the new president’s wealth of experience gained from 24 years in the manufacturing industry, spanning various critical functions such as global sales and business planning, Asia distribution, and human resource management.

(L-R): Dr. David Go, TMP Vice Chairman: Kazuhiro Nomura, Manila Branch General Manager, Mitsui & Co. (Asia Pacific); Dir. Gen. Tereso Panga, Philippine Economic Zone Authority; Masando Hashimoto, Incoming TMP President; Sec. Alfredo Pascual, Department of Trade & Industry; Chairman Alfred V. Ty TMP; Amb. Kazuhiko Koshikawa, Embassy of Japan; Hao Quoc Tien, Deputy CEO, Asia Region, TMC; Atsuhiro Okamoto Outgoing TMP President

The leadership transition coincides with TMP’s continued growth in business, focusing on new mobility solutions and automotive value chain innovations. TMP is also gearing up for the local production of the IMV 0 (Zero), the company’s third Completely Knocked Down (CKD) model and game-changing light commercial vehicle unveiled last year.

In his inaugural address, Hashimoto emphasized the importance of stronger collaboration in the automotive industry and sought to harness the fullest potential of the Philippine human capital.

“As [local] manufacturing remains at the core of its business, Toyota can have the best of both worlds of hardware for production quality and software for [highly skilled] workforce,” Hashimoto said.

Chairman Ty expressed optimism for the future under Hashimoto’s leadership, anticipating the introduction of the Next Generation Tamaraw, a step-up in their drive towards electrified and connected mobility, and the further upliftment of the lives of Filipinos.

The automotive industry, signaling a complete recovery from COVID-19, posted total sales of 430,000 units in 2023, surpassing the 410,000 units recorded in 2019. Toyota maintained its stronghold as the Philippines’ most popular car brand for the 22nd consecutive year, setting a new all-time sales record in 2023, with sales breaching the 200,000-unit mark.

In alignment with the return to normalcy of manufacturing, sales, and distribution operations, TMP’s cumulative contributions to the Philippines’ economy totaled P60 billion in the form of taxes and duties, reaffirming Toyota’s commitment to the country’s growth and development.

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