Shoichiro Toyoda, who as the son of Toyota's founder oversaw the company's expansion into international markets, has died at the age of 97.

Toyoda, who served as the company's honorary chairman, died Tuesday of heart failure, Toyota Motor Corporation said in a statement.

He was the father of Akio Toyoda, who recently announced that he was stepping down as president and chief executive officer to become its chairman.

Shoichiro Toyoda was the eldest son of Kiichiro Toyoda, who founded Toyota in 1937.

By becoming Toyota's president in 1982, Shoichiro Toyoda helped transform Toyota into a global automaker, especially in the vital American market, where its brand became synonymous with quality, durability, economy and engineering excellence.

Both father and son survived the difficult years of the "defeat of Japan," when powerful Japanese exporters like Toyota were accused of robbing American blue-collar workers of their jobs.

The company decided to become a member of the U.S. auto community.

Together with his brother Tatsuro Shoichiro Toyoda helped Toyota open production facilities in North America.

The company formed a joint venture with General Motors in 1983.