Japanese EV Manufacturer Terra Motors appoints Ichiro Ishii as an External Director and Yukio Yoda as a full time Corporate Auditor
April 1, 2021 12:00 AM: In a move to strengthen its global presence, Japanese Electric Vehicle Manufacturing Company Terra Motors has appointed Ichiro Ishii as an external/outside director and Yukio Yoda as a full-time corporate auditor. Mr. Ishii has extensive experience in overseas mergers and acquisitions (M&As), having served as a Vice President at Tokio Marine, a multinational insurance holding company headquartered in Tokyo. Mr. Yoda on the other hand, has worked as a director of JETRO -Japan External Trade Organization and overseed venture investment at Kyocera.
Talking about the new additions to the team, Akihiro Ueda, President and Representative Director, Terra Motors, said – “Terra Motors’s theme is – Solving the world’s problems with Japanese technology. We have welcomed an outside director and a full-time auditor who have a lot of experience in M&A and PMI in Europe, the U.S. and Asia. With their help we will build a new industry “e-mobility social infrastructure” with a focus on EVs.”
Mr. Ishii graduated from the Faculty of Engineering at the University of Tokyo and joined Tokio Marine & Fire Insurance in 1978. From 2000 onwards he led the growth strategy for insurance business through M&A in the APAC region. In 2001, he established the Group’s first overseas life insurance company (MLITH) in Thailand through M&A. In 2008, he was appointed General Manager of the Overseas Business Planning Department of Tokio Marine Holdings. Around this time, he launched a new organization to strengthen the IT and HR functions of the overseas insurance business. In 2013, he was appointed CEO of TMNA, the U.S. holding company of the Tokio Marine Group. In 2013, he was appointed CEO of TMNA, the U.S. holding company of Tokio Marine Group, where he stabilized the management structure of TMNA and led the integration process and business management of Delphi, a newly acquired company through M&A. In 2015, he was appointed as Senior Managing Director of Tokio Marine Holdings (in charge of overseas insurance business), leading the integration process and business management of HCC Insurance Group, which was acquired in the same year, from the head office to expand synergies across the Tokio Marine Group. By 2017, Ishii was appointed Vice President of Tokio Marine Holdings, Inc. In 2020, he left the Tokio Marine Group to become an advisor to Deloitte Tohmatsu LLC.
Speaking on his association with Terra Motors, Mr. Ishii said: “I became acquainted with Mr. Ueda through a colleague at Tokio Marine. Later, I heard directly from the Founder- Tokushige, and strongly sympathized with the corporate philosophy of the Terra Group. I have been involved in Tokio Marine’s overseas business for many years and have overseen several M&A and PMI projects in Europe, the United States and Asia. In Asia, I was deeply involved in the establishment of insurance business JVs in India and Thailand through local business trips and assignments. Through this experience, I have realized the various social issues and high growth potential of Asian countries. I believe that the approach that Terra Motors is taking in India to ‘build a new social infrastructure focused on EVs’ is a practical and effective approach to creating a safe and comfortable society for people around the world. As an outside director, I will work to ensure that Terra Motors takes appropriate risks and achieves sustainable earnings growth.”
Mr. Yoda, on the other hand, graduated from the Faculty of Law, Kyoto University, and joined the Ministry of International Trade and Industry in 1973. Mr. Yoda was seconded to the New Energy and Industrial Technology Development Organization (NEDO), where he served as Counsellor for Commercial and Economic Affairs at the Embassy of Canada. Mr. Yoda was appointed Director of JETRO San Francisco in 1979, and Executive Director of the Center for Information on Security Trade (CISTEC) in 2000. In 2002, he joined Kyocera Corporation, where he oversaw investment in venture companies, M&A, etc.
He analysed business plans and revenue and expenditure forecasts for new projects, and evaluated top management’s ability to respond to business needs, etc. To comply with the SOX Act, he participated in the creation of the group’s corporate governance and compliance organization and framework, etc. In 2007, he became independent and established Task Yoda. In 2011, he became an advisor and executive officer of SOLE Corporation.
Commenting on his role as the auditor for Terra Group, he said “as a graduate of the Faculty of Law, I oversaw many technology development-related tasks at the Ministry of International Trade and Industry (MITI), and when I served as the Director of JETRO/SF, I came into contact with Silicon Valley, where venture companies are born. It was here that I realized the role of innovation in bringing about social change through technological innovation.
This was at a time when employees of Japanese companies were still living only in “expatriate villages”. Later, I joined the Affiliate Company Management Department at Kyocera, where I oversaw understanding the activities of subsidiaries in the U.S., Europe, and China, as well as M&A projects and venture investments. I experienced once again that only spontaneous and intrinsic innovation can lead to the development and growth of a company. After that, I became independent and started venture support and consulting. Shortly after that, I met the founder and current chairman of Terra Motors, Mr. Tokushige. I would like to use my experience to fulfill my duties as an auditor for the future development and growth of Terra Motors as a social entity.”
Terra Motors’ vision is “to create new industries and make society more convenient”. Terra Motors is a Japanese global venture company that aims to be a leading company in sustainable e-mobility, developing, manufacturing, selling, and providing after-sales service for EVs (electric two-wheelers and three-wheelers). The electric tricycle called “E-Rickshaw” has the largest market share in India. In addition to the Tokyo headquarters, the company has operations in three other Asian countries.
Terra Group believes that through their endeavours they are contributing to the creation of job opportunities for low-income people around the world, the improvement of their lives, and the realization of a prosperous society.