planning strategy & competetive advantage of toyota motors
TRANSCRIPT
PLANNING STRATEGY &
COMPETETIVE ADVANTAGE
-of TOYOTA MOTORS-
Toyota Motors Corporation
Presentation LayoutIntroduction
Company Overview☺ History, Mission, Vision, core competencies, etc
PEST Analysis☺Pakistan
Strategy Analysis Industry Analysis
☺Porter’s Five Forces Model☺Comparative Business Analysis☺Graphical Analysis
Internal Analysis☺SWOT Analysis☺Growth Strategies
Strategy Implementation Competitive Advantage (Pakistan) Value Chain Analysis (Pakistan) Complex Work System (Pakistan) Corporate Strategy (Pakistan)
☺Corporate Governance (HRM Strategy ) Financial Strategy (Pakistan)
Strategy Evaluation Technological Strategy Marketing Performance overview Strategy Evalution Conclusion
Presentation Layout
Introduction
Company OverviewAnnual sales: $114 BillionProduction: ~8.8 million Units/Yr.Employees: ~210,000 people56 manufacturing plants in 6 continentsToyota becomes world's biggest carmaker
☺ Toyota sold 2.348 million vehicles in the first three months of 2007
Toyota Camry named 'Car of the Year‘☺ The Toyota Camry is America's hottest-selling car
History☺Established in 1937 out of Sakichi Toyoda’s
weaving machine company☺Launched first car (SA Model) in 1947 ☺“Toyota Production System” formed in 1950
based on Just-In-Time principle☺Overseas production starts in 1959 (Brazil)☺In 1972, cumulative production >10M units☺In 2002, entry in the Formula 1 circuit
Mission Statement“Mission of Toyota is to provide safe & sound
journey. Toyota is developing various new technologies from the perspective of energy
saving and diversifying energy sources. Environment has been first and most
important issue in priorities of Toyota and working toward creating a prosperous society
and clean world.”
Vision
“Toyota’s Vision is to be the most respected and successful enterprise, delighting customers
with a wide range of products and solutions in the automobile industry with the best people
and the best technology".
☺ The most respected. ☺ The most successful. ☺ Delighting customers. ☺ Wide range of products. ☺ The best people. ☺ The best technology.
Global Vision 2010Major Changes in the global economic environment
Taking on the challenges
for change<Expected society>
Global motorization
Heave global production& sales of
6 million units
* Regional Strategies* Technological Innovation
2002 2012s
PEST ANALYSIS OF PAKISTAN
ECONOMICAL FACTORS☺ Process of economic growth in Pakistan has been
greatly affected by public policy and management☺ Experienced considerable political instability and
social tensions☺ Continuous discontinuation and subsequent
introduction of economic policies in Pakistan ☺ Table on next slide provides the basic economic
indicators for Pakistan
Annual Economic Indicators
Source: Economic Intelligence Unit Country Profile Report May 2006 Pakistan
Indicator 2001 2002 2003 2004 2005 2006GDP market price (PKR bn) 2678 2938 3147 3416 3727 4977
GDP (US$ bn) 62.0 62.8 60.8 58.7 61.3 60.2
Real GDP growth % 1.2 3.7 4.3 2.7 4.5 5.3
Consumer price inflation (avg %) 6.2 4.1 4.4 3.1 3.5
3.4
Population (m) 135 138.5 141.5 144.6b 147.7 149.4
Exports of goods fob (US$ m) 7850.0 7673.0 8739.0 9131.0 10100.4 10400.1
Imports of goods cif (US$ m) -9834.0 -520.0 -896.0 -739.0 -1204.8 -1407.7
Current account balance (US$ m)
-2248.0 -920.0 -85.0 1880.0 2915.33502.6
Foreign exchange reserves excluding gold (US$ m)
1028.0 1511.0 1513.0 3640.0 8078.09833
Total external debts (US$ bn) 32.3 33.9 32.1 30.6 33.4 30.2
Debt service ratio paid % 21.2 28.7 25.6 18.0 14.6 12.5
Exchange rate PKR US$ (av.) 44.94 49.16 53.65 61.93 59.72 61.67
POLITICAL FACTORS ☺ The constitution of Pakistan defines the political system
of governance in Pakistan as a democracy☺ The political situation of Pakistan since its foundation
has been characterized by instability which has had a direct impact on the overall performance of the business sector
☺ The number of political parties in Pakistan also runs into the hundreds which lead to a highly fragmented electoral base which also contributes to the instability of the overall political situation
☺ The political situation is also characterized by the influence of the army which has taken over the country directly thrice and have had martial law imposed on the country
☺ The army also over the period of democratic government has had a strong indirect influence on the every day running of the country
SOCIAL FACTORS ☺Social indicators of Pakistan is characterized
by a typical Low Developed Nation social indicators☺ very high level of poverty (nearly 1/3 of the whole
population of Pakistan lives under the poverty line)☺ high disparity in income distribution☺ low levels of education (45% adult literacy and 3% of the
GDP being spend on education)☺ health (0.7% of GDP being spent on health) average life
expectancy of 62 years and 500 people for each doctor
TECHNOLOGICAL FACTORS☺Technology has tremendous impact on
lifestyle consumption patterns and our economic well beings
☺Technology break through can effect lucazade markets and business strategies in three ways☺ By starting entirely new business ☺ By radically altering or ritually destroying existing
business☺ By stimulating market and business not related to the
new technology
Strategy Analysis
Overview of Industry Analysis
Porter’s Five Forces Model
Internal Rivalry
Buyers Whole sale:
– Taxi services– Couriers– Ambulance services
Dealers:– New & used
Rental:– Few global – Many medium local clients
Leasing:– Few global – Many medium local clients
Suppliers
☺ Paint and Coating
☺ Iron and Steel Mills
☺ Battery Manufacturing
☺ Engine and Engine Parts
☺ Electrical and Electronic Equipment
☺ Steering and Suspension
☺ Components
☺ Brake System
☺ Transmission and Power Train Parts
☺ Seating and Interior Trim Metal Stamping
☺ Other Motor Vehicle Parts
Substitutes☺There are not many substitute products for
automobiles. Some of the substitutes are :
☺There are no substitutes for Toyota parts
New Entrant☺Sources of barriers to entry
☺Capital requirements ☺Economies of scale
☺Absolute cost advantages ☺Product differentiation
☺Access to channels of distribution ☺Legal and regulatory barriers ☺Retaliation
Comparative Business Analysis
Comparative Business AnalysisSales Analysis
Company
Sales (US $ trillions)
Sales Growth
Sales/Emp (US $)
Largest Region
Toyota 23.948 13.8% 723,896 North America (36%)
Mazda 3.247 11.2% 773,333 Japan (37.8%)
Nissan 10.469 11.0% 571,660 North America(43.5%)
Honda 11.087 11.9% 600,000 North America(54.1%)
Profitability Analysis
Company Year Gross Profit
Margin EBIT
Margin EAIT
Toyota 2006 25.2% 15.8% 6.5%
Toyota 2007 25.5% 15.9% 6.9%
Mazda 2007 29.5% 6.3% 2.3%
Nissan 2007 30.0% 14.8% 4.4%
Comparative Business Analysis
Honda 2007 32.4% 11.0% 5.3%
Recent Stock Performance
Company P/E Price/ Book Price/ Sales
Toyota Motor 14.3 2.02 1.09
Hyundai Motor 11.0 0.88 0.22
Nissan Motor 11.0 1.57 0.59
Honda Motor 12.4 1.59 0.74
Comparative Business Analysis
Financial Position
Company D/E A/R Days R&D/Sales
Toyota Motor 0.50 100 3.7%
Mazda Motor 0.72 19 3.3%
Nissan Motor 0.55 144 4.4%
Honda Motor 0.43 82 5.0%
Comparative Business Analysis
Company % Sales
Suzuki Motor 67%
Toyota Motor 50%
Honda Motor 25%
Nissan Motor 5%
Comparative % sales Analysis in Pakistan
Last Three year’s sales Performance In Pakistan
0200400600800100012001400160018002000
2007-2008 2008-2009 2009-2010 2010-2011
Sales
Total Sale
1804
1470
1408 375
Toyota Islamabad Motors Graphical Analysis
Parts Sale
Sales Analysis of Toyota Islamabad Motors
Labor Sale
Sales Analysis of Toyota Islamabad Motors
Total Unit Serviced
Sales Analysis of Toyota Islamabad Motors
Toyota Islamabad Motors Graphical Analysis
Total units
Engine oil & Filter 2876
Others 2688
Pure PM 2097
Total Labor
Engine oil & Filter 721870
Others 4163983
Pure PM 4117630
Engine oil & FilterOthers Pure PM
Toyota Islamabad Motors Graphical Analysis
Total parts
Engine oil & Filter 9680484
Others 14285031
Pure PM 13136182
Engine oil & FilterOthers Pure PM
SWOT Analysis
Strengths
☺Strong industry position ☺Well diversified product portfolio ☺Technological focus ☺Strong resale☺Easy accessibility
Weaknesses
☺Declining profitability of the automotive business
☺Poor short-term liquidity condition ☺Mounting inventories ☺Long time delivery
Opportunities
☺Rising demand for cars in Asia ☺New research facilities ☺Global capacity expansion ☺Economic recovery in Japan
Threats
☺Rising raw material prices ☺Weak macro-economic conditions in Japan
and Europe Increasing competition ☺Declining US car sales
Growth Strategies☺Toyota is a manufacturer, technology
development capabilities will be the wellspring of its growth
☺ Hybrid Technology☺ Advancement of Localization
Growth Strategies
☺ In the immediate future, Toyota will focus on quality enhancement, further cost reductions, and personnel development
☺The company is in the process of building a production and supply system that can respond flexibly to further demand fluctuations
Strategy Analysis & Formulation
Competitive Advantage
☺New currency - information
☺Automation
☺Effective Feedback cycle
☺The hybrid technology
Toyota hybrid system
Application of hybrid technology
The product line
The products and their prices
Core Values “Action Commitment Teamwork for becoming #
1 in Pakistan” … means a committed team to make Toyota # 1 in:
☺Respect and Corporate Image☺Customer Satisfaction☺Quantity in Production & Sales☺Quality☺Best Employer☺Profitability
Suppliers of Toyota in Pakistan
VALUE CHAIN ANALYSIS They are:☺With the growing division of labor and the
global dispersion of the production of Components, systemic competitiveness has become increasingly important
☺Efficiency in production is only a necessary condition for successfully penetrating Global markets
☺Entry into global markets which allows for sustained income growth – that is, making the best of globalization - requires an understanding of dynamic factors within the whole value chain
Value Chain Analysis in Pakistan
Key Success factors Toyota Pakistan
☺Toyota’s Just-in-Time tools
☺Role of workers in problem solving
☺Micro-infrastructural elements of operations
☺Powerful ‘dynamic capability’
☺Complex work systems
Complex work systems Toyota Pakistan
Person doing a work-activity
Connecting flows of material and
information
Pathway of connected activities
Corporate Strategy Guiding Principles at Toyota:☺ Honor the language and spirit of the law of every
nation and undertake open and fair corporate activities to be a good corporate citizen of the world.
☺ Respect the culture and customs of every nation and contribute to economic and social development through corporate activities in the communities.
☺ Dedicate ourselves to providing clean and safe products and to enhancing the quality of life everywhere through all our activities.
☺ Create and develop advanced technologies and provide outstanding products and services that fulfill the needs of customers worldwide.
☺ Foster a corporate culture that enhances individual creativity and teamwork value, while honoring mutual trust and respect between labor and management.
☺ Pursue growth in harmony with the global community through innovative management
Corporate Governance☺Toyota’s Basic Approach to Corporate
Governance☺ Toyota’s Management System☺Systems for Ensuring Appropriate
Management
Corporate Governance☺Toyota’s top management priority is to steadily
increase corporate value over the long term. Further, our fundamental management philosophy is to remain a trusted corporate citizen in international society through open and fair business activities that honor the language and spirit of the law of every nation. In order to put that philosophy into practice, Toyota builds favorable relationships with all of its stakeholders, including shareholders, customers, business partners, local communities, and employees. providing products that fully cater to customer needs is essential to achieve stable, long term growth. Through such initiatives, Toyota is taking concrete measures to reinforce its corporate governance functions and to become an even more competitive global company.
Toyota’s Managerial Practices1. Challenge: “current trends are addressed in the light of a
longer range vision”2. Kaizen: continuous improvement by involving everyone in
quality matters3. Genchi-Genbutsu: identify root cause of problems (rather
than symptoms), attention to detail4. Respect: stresses sincere communication and mutual
trust5. Teamwork: facilitates mutual learning6. Consensus: decisions are made consensual7. Long-term orientation
Toyota’s HRM practices in Pakistan1. Recruitment of fresh graduates2. Internal labour markets and lifetime
employment3. Job rotation4. Extensive internal training & socialisation5. Implicit performance evaluation6. Seniority plus merit pay (nen-ko)
Financial strategy☺Growth
☺Efficiency
☺Stability
Financial strategy Toyota Pakistan
1 Growth
Sustainable growth through continuous forward-looking investment
2 Efficiency
Improving profitability and capital efficiency
3 Stability
Maintaining a solid financial bas
Balanced implementation
of 1.–3. over the medium-to-long term
Sustainable growth
Growth☺In fiscal 2009, investments enabled Toyota to
maintain positive free cash flow while implementing investments in property, plant and equipment. The positive free cash flow will allow active investment for future growth in the next fiscal year.
☺Enhancing products to reflect market demand accurately, developing technology to create new markets, and strengthening supply to cater to global demand require continued active investment in research and development and property, plant and equipment.
Efficiency☺Maintaining and enhancing profitability and
capital efficiency In fiscal 2008, Company achieved significant improvement. simultaneously pursue growth and efficiency and maintain operating income margin at approximately 9% by introducing products efficiently through the development of core global models, advancing innovative cost reductions, starting up overseas plants steadily, and managing fixed costs.
Stability☺Maintaining a solid financial base, Toyota
preserve a solid financial base by ensuring sufficient liquidity and stable shareholders’ equity. At the end of fiscal 2009, liquid assets were approximately ¥3,300.0 trillion, while shareholders’ equity amounted to ¥10,000.0 trillion. There sound financial position enables them to maintain the levels of capital expenditures and investment in research and development even under such conditions as rises in prices of raw materials and drastic changes in foreign exchange rates.
Financial highlights of Toyota Pakistan
======================================================Indus Motors Pakistan-Financial Highlights (PKR mn)======================================================Unit Sales 1QFY2010 1QFY2009 change======================================================Sales 10,426 5,008 108%Cost of Sales 11,936 5,160 131%Gross Profit 1,014 176 476%Other Income 423 104 307%Profit after taxation 1,167 57 1947%Earnings per share (PKR) 9.66 0.66 1364%Gross Profit Margin 8.49% 3.41% 149%Net Profit Margin 9.78% 1.11% 781%======================================================
Strategy Implementation
Technological Strategy☺Under the roof of Toyota Motor's largest
manufacturing facility in North America, the headlights flash and the horn blasts on a new 4Runner, Prius, Highlander, Tundra, Sequoia, Camry, Avalon or Solara rolling off the assembly line every 55 seconds. Its journey began just 20 hours earlier, when sheets were cut from a 24-ton coil of steel and stamped by giant machines into body parts. Robots weld the stamped parts into the naked frame of car bodies, which are then hung on an overhead conveyor system to begin a Disney-like ride through 7.5 million square feet of factory floor (the equivalent of 156 football fields).
Technological Strategy☺Employees—some 10,000 at this plant
alone—have exactly 55 seconds to install engine components, brakes, dashboards, windows, doors or some other piece of the car puzzle before it is transported to the next stage of the assembly line on the overhead conveyor. Driverless carts ferry parts just-in-time to assembly stations so inventory doesn't pile up, and everywhere, overhead signs, plasma screens and musical jingles alert team leaders to production status or problems on the assembly line.
Technological Strategy☺Toyota consistently produces higher-quality
cars, with fewer worker-hours, lower inventory and fewer defects, than any other competitor. The engine behind its success, say insiders and outsiders alike, is the Toyota Production System (TPS), a set of principles, philosophies and business processes to enable the leanest manufacturing.
☺And behind TPS is information technology—supporting and enabling the business processes that help Toyota eliminate waste, operate with virtually no inventory and continually improve production.
Technological Strategy☺"Many companies have tried to duplicate
what Toyota has done with TPS... and most fail," notes Jeffrey Liker, a professor of industrial engineering at the University of Michigan and author of several books on lean manufacturing, including The Toyota Way.
Technological Strategy☺IT development has led to a market
environment where customers can promptly acquire the latest information from around the world with ease. In this age, customers select products that meet their lifestyle and a sense of value on the basis of a value standard that justifies the cost. They are strict in demanding the reliability of enterprises through the utility values (quality, reliability) of products. Thus the concept of “Quality” has expanded from being product quality-oriented to business quality- and then to corporate management quality-oriented.
Technological Strategy☺The significance of the new Management
Technology Strategy Model lies in the further strengthening of the strategic implementation of management technology.
☺This new model on which Toyota is working with utmost efforts has13 sales, engineering and production divisions positioned at the front line of manufacturing. Consequently, to firmly establish global marketing, the three core technologies of TMS (Toyota Marketing System), TDS (Total Development System) and TPS (Total Production System) should be established and strengthened.
Technological Strategy☺The Management Technology Strategy Model.
Technology Strategy Pakistan☺In Pakistan cars are being manufactured on the
principle of TPS and TDS has been introduced. Complete Knock Down kits (CKDs) are received once every week and are stored in the CKD warehouse right next to the main plant.
☺Standard trolleys are used for CKDs and local parts. These trolleys have been designed to contain parts for lots of local parts. As soon as the parts for the 8th car are consumed, the operator calls the material control department, which supplies the parts for the requisitioned lot by the time the parts for the 10th car have been consumed. Consumables consist of paints, chemicals and lubricants and are supplied as and when required.
Marketing Strategy☺Japan☺United States☺Europe☺Pakistan
Market Conditions Japan☺Steady demand was seen in domestic market
as automotive market went in to a structural change. Fiscal 2006 saw total new vehicle sales rise slightly to 5.86 million units, while sales excluding mini vehicles edged down to 3.91 million units. In recent years, demand in the non-mini vehicle market has held steady just below 4.00 million units while demand has shifted toward mini vehicles and used vehicles. In fiscal 2007, the non-mini vehicle market stayed around the 4.00-million-vehicle mark. Through the first eleven months of 2008, Japanese production totaled 4.6 million units, of which 2.6 million units were slated for export.
Market Conditions Japan☺Furthermore, the Company’s financial profile
remains exceedingly strong, with the industrial operations having a significant net cash position of approximately 700 billion yen as of March 31, 2008. Toyota’s formidable balance sheet enables it to withstand the severe market conditions much better than its peers, with the Company able to sustain important development programs that should increase the competitiveness of its product portfolio going forward.
Performance Overview Japan☺Toyota keeps market share above 40% despite
slight decline in vehicle sales in tough market conditions, the Toyota Group, including Daihatsu Motor Co., Ltd., and Hino Motors, Ltd., vigorously marketed vehicles.
☺However, domestic vehicle sales of 2.36 million units on a shipment basis came up just short of the previous year’s results, and share of the non-mini vehicle market adjusted slightly, of 44.5% to 44.3%., Toyota claimed more than 40% of the market for the tenth straight year. Looking at sales trends by model, the Vitz, which was fully remodeled in the 2006 fiscal year, and new models, such as the Highlander, Camry and Prius sold briskly.
Market Conditions USA☺In fiscal 2006, total vehicle sales in the U.S.
automotive market grew year on year for the second successive year, reaching 17.03 million vehicles. Meanwhile, the Canadian market outperformed the previous year for the first time in three years, with total sales of 1.59 million vehicles. Due to a hike in gasoline prices, there was a marked shift in demand toward fuel-efficient small and mid-size cars and an overall slackening in sales of SUVs and other large models in the coming years of 2007 and 2008.
Market Conditions USA☺In 2009 U.S. automotive market saw an
increase as Toyota’s daily retail sales rate ran at about 47 percent higher than that of the same period last year. Besides the North American automotive market will likely to sustain growth on the back of a rising population and continue steady economic conditions.
Performance Overview USA☺In North America in fiscal 2007, Toyota sold
2.55 million vehicles and built 1.20 million vehicles on a consolidated basis including Toyota-brand vehicles contributed by unconsolidated New United Motor Manufacturing, Inc. (NUMMI), North American production amounted to 1.57 million vehicles. In the United States, Toyota posted a new vehicle sales record for the 10th straight year, shipping 2.30 million vehicles.
Performance Overview USA☺ Sales of large SUVs declined, partly because
certain SUVs were nearing model changes. However, vehicles remodeled during the year—the Avalon, Tacoma, and RAV4—sold briskly. Now in the era of economic recession the sales of Toyota in the U.S. market have gone a little low in the past three years but Toyota is still holding the 40% share mark in USA and other regions of the world.
☺Amid intense competition, market sizes same as in previous year. In fiscal 2006, sales in the European automotive market amounted to 17.12 million Vehicles, roughly the same level as in the previous year. While global automakers compete fiercely to grow sales and profits, market size will likely remain in the region of 17 million vehicles.
Market Conditions Europe
Performance Overview Europe
☺The Toyota brand enjoyed strong sales across the European lineup, including the Yaris, our flagship mass production model; such mainstay models as the Corolla and Avensis; and the Aygo, a small passenger car built by our joint venture company in the Czech Republic. Eighth straight sales record takes market share above 5% for first time In Europe in fiscal 2006, Toyota posted its highest-ever sales for the eighth year running, with consolidated shipments of 1.02 million vehicles. As a result, market share on a calendar-year basis passed 5% for the first time, and Toyota rose from eighth to seventh place in Europe’s passenger car market. On the back of favorable sales, consolidated production totaled 623,000 vehicles.
Market Conditions Pakistan☺Indus Motors Company Pakistan always keeps
in mind the vision and mission and it is the most respected and successful automobile company, delighting customers, making possibility of providing with a wide range of products and solutions in the automobile industry with the best people and the best technology. In this way the IMC is achieving customer loyalty.
Market Conditions PakistanMarketing Objectives:-☺The Indus Motors Company’s marketing
objective before setting, the Indus Motors Company was to decide on its strategy for the product. Company had been selecting its target market and positioning carefully, then its marketing mix strategy, including price was decided that it should be fairly straightforward. Pricing strategy is largely determined by decisions on market positioning. At the same time, the company tried to seek additional objectives. The clearer a firm is about its objectives, the easier it is to set price.
Market Conditions PakistanToyota Motors Marketing Mix:☺Toyota Motors Corporation deals at an
international level while Indus motors Corporation deals partially at national level, so the marketing mix strategy may vary from country to country even region to region. So in the aspect of Pakistan the Indus motors has authorized to dealers that they may employ marketing mix strategy that should be effective for regional environment. 4P’s are product, price, place and promotion.
Performance Overview Pakistan☺Consistent product diversification and product
improvements also helped Indus Motor Company strengthen its market leadership position, with market share rising sharply from 41% to 57% in the 1300cc and above segments in which Corolla competes with other major brands. Hilux, in the Light Commercial vehicle range, continued to maintain over 90% market share.
Performance Overview Pakistan☺Toyota Corolla brand management is based
on “Brand Guidelines,” which describes the profile and differentiates the criteria of each individual brand. The guidelines are being expanded to include regulations for sharing components by business units and the importance of such a strategy to the brands. Market success in the future will increasingly depend on Toyota Corolla ability to maintain each brand’s own specific character.
Performance Overview Pakistan☺Indus Motors Company therefore is working
intensively on strengthening the brand-related attributes that influences the design of the products and the values associated with each particular brand. Toyota Motors brand portfolio gives Indus motors tremendous ability to offer attractive products in all segments and to all customer groups in Pakistan.
Strategy Evaluation
At this stage company again Do the SWOT analysis to find out that
☺Are strength still strength?☺Are weakness still weaknesses?☺Are opportunities still opportunities?☺Are threats still threats?
Strategy Evaluation
Strategy Evaluation
I. Review Underlying Bases
Continue present course
II. Measure Firm Performance
III.Take
Corrective Actions
Differences?
Differences?
Yes
NO
Yes
NO
Conclusion
For more than a quarter of a century, we at Toyota have relied on the talents of American designers and engineers to help ensure that our vehicles meet local
tastes and standards.
☺Toyota Calty Design Research Inc: has helped develop exterior styling concepts for Prius, Tacoma, Camry Solara, and the new Celica and new Avalon.
☺Toyota Technical Center USA (TTC): which conducts research and development, celebrated its 25th anniversary in 2002. Automotive styling designs received from Toyota's own Calty Design Studio in California, and from all around the world, are brought to life.
Conclusion
ConclusionToyota is working on hybrid technology
In 2001, Toyota announced The 21st Century Diversity Strategy, one of the most significant commitments to
diversity in corporate America today.
☺A $7.8 billion commitment over 10 years.
Our Diversity Strategy will make a better Toyota:
☺As a Business Partner☺As a Community Partner☺As a Good Employer
Conclusion
Geared toward Continuing Growth:We want to be a company that can continue to grow in any era
and in any conditions. Bearing that in mind, Toyota is reinforcing the foundations of an unshakable growth platform
while taking decisive management measures to grow earnings. Always welcoming change and eager to take on
challenges, we are transforming the quality of our management and operations in preparation for making our
next stride forward.
Conclusion
