Toyoda, an uncle of current Toyota CEO Akio Toyoda, died of pneumonia on 30 December 2017, the firm said in a statement.
His funeral has already been held and was attended by close relatives, but Toyota said it plans to hold a separate farewell ceremony.
Toyoda joined the company - founded by his father Kiichiro Toyoda - in 1953 and in 1984 became the first president of a new firm formed by Toyota and General Motors.
The California-based joint venture was part of Toyota's push to expand production and increase its share in the North American market. The plant produced nearly 8 million vehicles until its closure in 2010, according to the company.
Toyoda served as Toyota president between 1992 and 1995.
Source: AFP
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