Toyota Motor Corporation
The Toyota Motor Corporation (Japanese: トヨタ自動車株式会社, Hepburn: Toyota Jidōsha KK, IPA: [toꜜjota], English: /tɔɪˈoʊtə/, commonly known as Toyota) is a Japanese multinational automotive manufacturer headquartered in Toyota, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on August 28, 1937. In 2017, Toyota’s corporate structure consisted of 364,445 employees worldwide and, as of December 2019, was the tenth-largest company in the world by revenue. Toyota is the largest automobile manufacturer in the world followed by Volkswagen, based on 2020 unit sales. Toyota was the world’s first automobile manufacturer to produce more than 10 million vehicles per year, which it has done since 2012, when it also reported the production of its 200 millionth vehicle. As of July 2014, Toyota was the largest listed company in Japan by market capitalization (worth more than twice as much as number 2-ranked SoftBank) and by revenue.
Toyota is the global market leader in sales of hybrid electric vehicles, and one of the largest companies to encourage the mass-market adoption of hybrid vehicles across the globe. Toyota is also a market leader in hydrogen fuel-cell vehicles. Cumulative global sales of Toyota and Lexus hybrid passenger car models achieved the 15 million milestone in January 2020. Its Prius family is the world’s top-selling hybrid nameplate with over 6 million units sold worldwide as of January 2017.
The company was founded by Kiichiro Toyoda in 1937, as a spinoff from his father’s company Toyota Industries, to manufacture automobiles. Three years earlier, in 1934, while still a department of Toyota Industries, it developed its first product, the Type A engine, and its first passenger car in 1936, the Toyota AA. Toyota Motor Corporation produces vehicles under five brands, including the Toyota brand, Hino, Lexus, Ranz, and Daihatsu. It also holds a 20.02% stake in Subaru Corporation, a 5.1% stake in Mazda, a 4.9% stake in Suzuki, a 4.6% stake in Isuzu, a 3.8% stake in Yamaha Motor Corporation, and a 2.8% stake in Panasonic, as well as joint-ventures with two in China (GAC Toyota and Sichuan FAW Toyota Motor), one in India (Toyota Kirloskar), one in the Czech Republic (TPCA), one in the United States (MTMUS), along with several “nonautomotive” companies. TMC is part of the Toyota Group, one of the largest conglomerates in the world.
|Toyota Jidōsha kabushiki gaisha|
|Founded||August 28, 1937|
|Products||Automobiles, luxury vehicles, commercial vehicles, engines, robots.|
| 10,398,182 (FY2020)
|Services||Banking, financing, leasing|
|Revenue||¥29,929,992 million US$275.4 billion (FY2020)[note 1]|
|¥2,442,869 million (FY2020)|
|¥2,142,329 million (FY2020)|
|Total assets|| ¥52,680,436 million
US$492.7 billion (FY2020)
|Total equity||¥20,737,682 million (FY2020)|
Number of employees
Toyota is headquartered in Toyota City, Aichi. The main headquarters of Toyota is located in a four-story building in Toyota. As of 2006, the head office has the “Toyopet” Toyota logo and the words “Toyota Motor”. The Toyota Technical Center, a 14-story building, and the Honsha plant, Toyota’s second plant engaging in mass production and formerly named the Koromo plant, are adjacent to one another in a location near the headquarters. Vinod Jacob from The Hindu described the main headquarters building as “modest”. In 2013, company head Akio Toyoda reported that it had difficulties retaining foreign employees at the headquarters due to the lack of amenities in the city.
Its Tokyo office is located in Bunkyo, Tokyo. Its Nagoya office is located in Nakamura-ku, Nagoya. In addition to manufacturing automobiles, Toyota provides financial services through its Toyota Financial Services division, and also builds robots.
In 1981, Toyota Motor Co., Ltd. announced plans to merge with its sales entity Toyota Motor Sales Co., Ltd. Since 1950, the two entities had existed as separate companies as a prerequisite for reconstruction in postwar Japan. Shoichiro Toyoda presided over Toyota Motor Sales in preparation for the consummation of the merger that occurred in 1982. Shoichiro then succeeded his uncle Eiji as the president of the combined organization that then became known as Toyota Motor Corporation.
- Rizaburo Toyoda (1937–1941)
- Kiichiro Toyoda (1941–1950)
- Taizo Ishida (1950–1961)
- Fukio Nakagawa (1961–1967)
- Eiji Toyoda (1967–1982)
Toyota Motor Corporation
On June 14, 2013, Toyota Motor Corporation announced the appointment of external board members; this was a first for the corporation and occurred following approval from general shareholders at a meeting on the same day. Additionally, Vice Chairman Takeshi Uchiyamada replaced Fujio Cho as chairman, as the latter became an honorary chairman while Toyoda remains in the post of president.
- Eiji Toyoda (1982–1992)
- Shoichiro Toyoda (1994–1999)
- Hiroshi Okuda (1999–2006)
- Fujio Cho (2006–2013)
- Takeshi Uchiyamada (2013–present)
- Shoichiro Toyoda (1982–1992)
- Tatsuro Toyoda (1992–1995)
- Hiroshi Okuda (1995–1999)
- Fujio Cho (1999–2005)
- Katsuaki Watanabe (2005–2009)
- Akio Toyoda (2009–present)
Toyota is publicly traded on the Tokyo, Osaka, Nagoya, Fukuoka, and Sapporo exchanges under company code TYO: 7203. In addition, Toyota is foreign-listed on the New York Stock Exchange under NYSE: TM and on the London Stock Exchange under LSE: TYT. Toyota has been publicly traded in Japan since 1949 and internationally since 1999.
As reported on its consolidated financial statements, Toyota has 606 consolidated subsidiaries and 199 affiliates.
- Toyota Motor North America (100% – 2004)
- Toyota Canada Inc. (51% – 2013)
- Toyota Tsusho – Trading company for the Toyota Group
- Daihatsu Motor Company (100%)
- Hino Motors (50.1% – 2001)
- Lexus 100% (1989)
- Scion 100% (2003)
- DENSO (24.74% – September 30, 2006)
- Toyota Industries (23.51% – March 31, 2006)
- Aisin Seiki Co. (23.0% – September 30, 2006)
- Subaru Corporation (20% – September 29, 2019)
- Isuzu Motors (5.9% – November 10, 2006)
- PT Toyota Astra Motor (50% – 2017)
- Noble Automotive (23% – 2014)
- PT Toyota Motor Manufacturing Indonesia (95% – 2003)