Development of Honda Motor Co., Ltd.
In 1937, Honda founded Tōkai Seiki to produce piston rings for Toyota. During World War II, a US B-29 bomber attack destroyed Tōkai Seiki's Yamashita plant in 1944 and the Itawa plant collapsed in the 1945 Mikawa earthquake. After the war, Honda sold the salvageable remains of the company to Toyota for ¥450,000 and used the proceeds to found the Honda Technical Research Institute in October 1946. In 1948 he started producing complete motorcycles as president of the Honda Motor Company. Honda turned the company into a billion-dollar multinational that produced the best-selling motorcycles in the world. Honda's engineering and marketing skills resulted in Honda motorcycles outselling Triumph and Harley-Davidson in their respective home markets. In 1959 Honda Motorcycles opened its first dealership in the United States.
Honda remained president until his retirement in 1973, where he stayed on as director and was appointed "supreme adviser" in 1983. His status was such that People magazine placed him on their "25 Most Intriguing People of the Year" list for 1980, dubbing him "the Japanese Henry Ford." In retirement Honda busied himself with work connected with the Honda Foundation.
Read more about this topic: Soichiro Honda
Famous quotes containing the words development of and/or development:
“There are two things which cannot be attacked in front: ignorance and narrow-mindedness. They can only be shaken by the simple development of the contrary qualities. They will not bear discussion.”
—John Emerich Edward Dalberg, 1st Baron Acton (1834–1902)
“Every new development for the last three centuries has brought men closer to a state of affairs in which absolutely nothing would be recognized in the whole world as possessing a claim to obedience except the authority of the State. The majority of people in Europe obey nothing else.”
—Simone Weil (1909–1943)