New Delhi: Osamu Suzuki, the resourceful and frugal leader who steered Suzuki Motor for over four decades and played a pivotal role in transforming India into a thriving auto market, has passed away at the age of 94. He died on Christmas Day after battling lymphoma, according to the company he led for years, first as CEO and later as chairman.

Suzuki’s leadership saw the company expand beyond its primary market of small, inexpensive vehicles in Japan. The 660-cc "kei" cars, which enjoyed tax advantages, were at the heart of Suzuki’s business. However, to make these cars profitable, Suzuki enforced strict cost-cutting measures that became central to the company’s operations. His legendary frugality was well-known: he would often reduce factory ceilings to cut down on air-conditioning costs and even continued to fly economy class well into his senior years.

A master of humor, Suzuki often deflected questions about his retirement by jokingly saying, "Forever" or "until the day I die," maintaining a tight grip on the company well into his 70s and 80s. Born Osamu Matsuda, he took his wife’s family name after being adopted, a common practice in Japan when there is no male heir. After joining Suzuki Motor in 1958, he rose through the ranks, becoming president in 1978.

In the 1970s, Suzuki rescued the company from near bankruptcy by convincing Toyota to supply engines that complied with new emissions standards—a breakthrough that ensured Suzuki’s survival. In 1979, the launch of the Alto minivehicle further solidified Suzuki’s place in the market, and by 1981, Suzuki had formed a successful partnership with General Motors.

Perhaps his boldest decision came when he invested a year’s worth of the company’s earnings into building a car manufacturing venture in India. At the time, India’s car market was virtually non-existent, with fewer than 40,000 cars sold annually. The Indian government had nationalized Maruti, a carmaker established in 1971 with the aim of producing an affordable "people’s car." After early partnerships with Renault and other companies failed, Maruti turned to Suzuki. A timely intervention by a Suzuki director led to the historic partnership, and within months, a letter of intent was signed.

In 1983, the first car from this partnership, the Maruti 800—based on the Suzuki Alto—was launched and became an immediate success. Today, Maruti Suzuki, majority-owned by Suzuki Motor, holds about 40% of India's car market. Suzuki also brought social change to India, instituting equality in the workplace, with open-plan offices and a single canteen for both executives and assembly-line workers.

Not all of Suzuki’s ventures were smooth sailing. In December 2009, just months before his 80th birthday, Suzuki finalized a high-profile multi-billion-dollar deal with Volkswagen. Initially hailed as a perfect match, the partnership quickly soured, with Suzuki accusing VW of trying to exert control, while VW objected to Suzuki’s purchase of diesel engines from Fiat. Less than two years later, Suzuki successfully took the German automaker to arbitration, eventually buying back the 19.9% stake it had sold to Volkswagen.

Suzuki, who often attributed his health to golf and work, stepped down as CEO in 2016, passing the leadership to his son Toshihiro. He continued as chairman until he was 91 and remained in an advisory role until his death.

Since 2016, Suzuki has deepened its relationship with Toyota, the world’s largest automaker, which acquired a 5% stake in Suzuki in 2019. Maruti Suzuki is set to produce electric cars for Toyota starting next year.

Toyota Chairman Akio Toyoda paid tribute to Suzuki, saying, "To me, he was more than an admired business leader: he was like a father. He was a father figure who developed Japan's kei car and nurtured it into Japan's 'people’s car.'