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International Business: Toyota Company Overview Company Name Toyota Motor Corporation Head Office Toyota, Aichi, Japan Established 1933 by Kiichiro Toyoda Chairman
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Submitted by clarasiean on May 22, 2008
Category: Business
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Company Overview
Company Name
Toyota Motor Corporation
Head Office
Toyota, Aichi, Japan
Established
1933 by Kiichiro Toyoda
Chairman
Fujio Cho
President
Katsuaki Watanabe
Revenue
USD$173 Billion (2005)
Total Number of Employees
285,977 (March 2006)
Subsidiaries
Toyota Financial Services, Daihatsu Motor Co., Ltd., Hino Motors, Ltd., DENSO, Toyota Industries
Industry
Automobile manufacturing, Financial services, Biotechnology
Products
Toyota, Lexus and Scion
Slogan
Toyota Moving Forward (It’s time to Move Forward)
Global position
8th largest organization
2nd largest in automobile industry
Toyota Motor Corporation, a Japanese MNC, or widely known as Toyota markets vehicles to over 170 countries. Toyota’s automotive business, including sales finance, accounts for more than 90% of the company’s total sales. In March 2006, Accountancy Age reported that Toyota (fiscal years ended 31 March) had already sold almost 8 million vehicles worldwide. Diagram below shows Toyota annual global production from 2002 to 2006. Annual sales had been climbing steadily with the latest global sales hitting at 7,974,000 units (Toyota, 2006).
Diagram 1: Toyota’s Annual Vehicle Production. Fiscal years ended March 31.
Source: Toyota Financial Highlights
Toyota Motor Corporation operates under the basic principle of ‘kaizen’. The Japanese word ‘Kaizen’ means continuous improvement. In step with kaizen, Toyota Production System (TPS) was established to monitor the continuous improvement Toyota has in mind for their corporate expansion. The essence of Toyota’s production control system is simply focused on to provide the best quality, lowest cost and...
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