TOKYO , Dec. 26 -- ( Kyodo ) _ The Japan Bank for International Cooperation said Thursday that Executive Managing Director Hiroshi Watanabe has been promoted to governor, replacing Hiroshi Okuda . Watanabe, 64, served as head of the International Bureau of the Finance Ministry and vice minister for international affairs before assuming the No. 2 post at JBIC in April 2012 . Okuda, 80, a former president of Toyota Motor Corp. and a former chairman of the Japan Business Federation , or Keidanren , retired effective Thursday. Watanabe's promotion was in line with recent cases in which senior government officials have taken the top posts of government-backed financial institutions in place of those hailing from the private sector. In June, Shoko Chukin Bank named Hideji Sugiyama , a former vice minister of economy, trade and industry, as president, while Koichi Hosokawa , a former vice minister of finance, became governor of Japan Finance Corporation in October.
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