Adopting Toyota's Philosophy via Core Values and Practical Application
In the heart of Japan, Akio Toyoda, the grandson of the company's founder, navigated Toyota through a period of significant transformation. As president for 14 years, Toyoda's leadership was sustained by the support from the genba (shop floor workers) and his love for cars, Toyota, and Japan.
Toyota, a global company originating from Japan, faced numerous challenges during Toyoda's tenure. However, he steered the company through these hurdles, keeping a focus on protecting Japanese jobs and the foundations of manufacturing at Toyota. This commitment was evident in his efforts to maintain and strengthen Japan’s automotive culture and life.
In 2023, Toyota announced plans to build a new advanced vehicle manufacturing plant in Toyota City, Japan, set to open in the early 2030s. This facility will ensure Toyota maintains substantial vehicle production capacity—around 3 million units a year—in Japan, despite external challenges such as US tariffs.
Koji Sato, as CEO, continues to support this direction by focusing on modernizing Toyota’s workforce and facilities with a global and diverse approach. Toyota's broader human resources development initiatives reinforce this, demonstrating active efforts in nurturing talent through international exchanges and career development programmes that enable employees to grow within the company and contribute to society, thereby strengthening the domestic industrial base.
Toyota's leadership, including Akio Toyoda and Koji Sato, strongly emphasizes protecting Japanese jobs and industry as a core part of their strategy. Akio Toyoda, serving as chairman, has reaffirmed his commitment to uphold the expectations of the people, particularly in Japan.
Despite facing criticism from newspapers and politics, Toyoda believes the true public opinion lies elsewhere. For him, the customers who love Toyota cars and choose the company represent the real public opinion. He recalled being driven by a sense of duty and love for Japan during a JAMA press conference in March 2021.
Akio Toyoda started out as the president no one wanted when he took office during the Global Financial Crisis. However, he faced these challenges head-on, recalling a super-strong yen nearing 80 to the dollar as one of the many difficulties he encountered during the first half of his presidency.
During his 2023 JAMA New Year's address, Toyoda remarked that carmakers rarely hear words of gratitude in their home country. Yet, he felt supported by shareholders who have expressed their support in voting papers. In fact, during a shareholder meeting, a shareholder offered encouragement to those on stage, urging everyone at Toyota to continue working hard for the sake of shareholders and Japan.
Despite the challenges, Toyota, along with dealers and suppliers, will continue to confront the public opinion of their customers. Akio Toyoda believes that the love for Toyota and Japan is the driving force behind the company's success, and he will continue to strive towards preserving and advancing Japanese manufacturing jobs and industry.
Finance is a crucial aspect for Toyota as they strive to maintain substantial vehicle production capacity in Japan, with plans to build a new advanced manufacturing plant. Despite US tariffs and other external challenges, Toyota's leadership, including Akio Toyoda and Koji Sato, places a strong emphasis on protecting Japanese jobs and the foundations of their business.
