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Clarifying responsibility for operations and earnings while accelerating decision making Toyota has split its automotive business into four units comprising Lexus International, which covers our Lexus brand; Toyota NO. I, which oversees operations in North America, Europe, and Japan; Toyota No. 2, which is responsible for business in China, Asia & the Middle East, East Asia & Oceania, Africa, and Latin America & the Caribbean; and the Unit Center, which covers all unit-related operations.

This more agile and autonomous management structure will enable us to clarify responsibility for operations ND earnings, and will allow managers in the field to make decisions more quickly based on genetic geniuses (on-site, hands-on experience). Recognizing that innovation is required in order to establish Lexus as a Japanese global luxury brand, the president has taken the reins of the newly formed Lexus International unit.

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Ensuring that each unit pursues the most appropriate business model Under the new management structure, each business unit will optimize its own business model and aim for steady improvement, an approach that is expected to contribute to across-the-board growth. In addition to the ongoing development of the Lexus business as an in-house company, the Toyota business has been split into two business units and executive vice presidents appointed to assume responsibility for operations and earnings.

For the developed markets in which Toyota No. L operates, success rests on our ability to capture replacement demand amid a market that is projected to remain stagnant in terms of scale. Meanwhile, the emerging markets in which Toyota No. 2 operates are experiencing rapid growth. In these markets it is essential to capture new customers by introducing well-timed products that fit market needs. Essentially, both Toyota No. L and Toyota No. Must work to understand the particular stage of development of their respective markets, and must expand these markets by introducing ever-better cars. With regard to annual vehicle sales, goals have been set for the Lexus, Toyota No. 1 , and Toyota No. 2 units at approximately 500,000 units, 4,000,000 units, and 3,000,000 units, respectively. Toast’s Basic policy on Corporate Governance Toyota has positioned the stable long-term growth of corporate value as a top-priority management issue.

We believe that in carrying this out, it is essential that we achieve long-term and stable growth by building positive relationships with all stakeholders, including shareholders and customers as well as business partners, local communities, and employees, and by supplying products that will satisfy our customers. We are working to enhance corporate governance through a variety of measures designed to further increase our competitiveness as a global company. Economic Environment Fiscal 2013 Business Results On a consolidated basis for the fiscal year ended March 31 , 201 3, vehicle ales increased 1. 19 million units to 8. 871 million units compared with the previous fiscal year. Net revenues expanded YE. 4805 trillion to YE. 0641 trillion; operating income grew YE. 2 billion to Yell . 3208 trillion, and net income roses billion to billion. Factors that contributed to operating income included VIVA. O billion from marketing efforts, E0. 0 billion from cost reduction efforts, VI 50. 0 billion due to exchange-rate fluctuations, and VI 5. 2 billion due to other factors. Factors that were detrimental to operating income included a V3VIVAO billion rise in expenses.

With regard to marketing, the volume of sales was higher in all regions owing to supply shortages in the previous fiscal year caused by the Great East Japan Earthquake and flooding in Thailand. In Japan, sales increased during fiscal 201 3 due in part to the invigorating effect of ecechoar subsidies on the market. In North America, sales of such mainstay models as the Corolla and CaCampyemained strong amid robust demand. In Asia, sales volumes grew substantially as the company rode market growth in each country, especially in Thailand and Indonesia.

Operating income also received a significant boost roroom drive to reduce costs undertaken together with our suppliers throughout the fiscal year as well as a weakening of the yen in the second half Of the fiscal year. Consolidated Financial Forecasts for Fiscal 2014 For the fiscal year ending March 31 , 2014, we forecast vehicle sales of 9. 1 million units, net revenues of Y2YE5 trillion, operating income of VI . 8 trillion and net income of YlYell 37 trillion on a consolidated basis. Our exchange rate assumptions are per CJCSS and VI 20 per ?1 .

In our forecast for consolidated operating income, we expect exchange-rate fluctuations (WOO illion cost reduction efforts (Y 160 billion), and marketing efforts (Y8YEillion) to be contributing factors. We also expect a 60. 8 billion rise in expenses that will negatively affect operating income. Dividends and Share Acquisitions Toyota considers the enhancement of shareholder value a priority management policy and to this end is aiming for sustainable growth through corporate reorganization to increase corporate value.

We aim to pay stable, ongoing dividends, targeting a consolidated payout ratio Of 30%, while giving due consideration to such factors as performance each term, investment laLanaand cash and cash equivalents. We plan to use retained earnings to quickly cocommercialismnvironment- and safety-related next-generation technologies, with emphasis on customer safety and peace of mind. Within this context, Toyota declared an annual dividend payment of Y9YEer share for the fiscal year ended March 31 , 2013.

Social Environment Social Responsibilities ; To maintain and improve the reliability and durability of our products ; To provide after-sales service to enable customers to continue to use our products safely and efficiently ; To ensure safety throughout the production tatakend to pursue QCCDQuality, Cost, and Delivery) Responding to Customer Demands The major textile producing countries in recent years are China, India, Pakistan, and Turkey. China, in particular, is the world’s largest textile producer in terms of production volume of synthetics, cotton yarn and silk thread, and export volume of clothing materials.

The Chinese government has launched a number of industry promotion policies, including increasing the percentage of shshuttlesooms from 28% to 40%, and increasing the percentage of comber yarn from 25% to 30% over the next five years starting roroom006. These steps are part of the Chinese government’s bid to transform the county from one that produces a large volume of textiles, to a country that is excellent in terms of quality, and which will be held in high regard by advanced markets. China is aiming to become the top textile producing country in the world, in both name and reality.

Establishing a Business Culture to Improve and Take on New Challenges Continuously As an experienced manufacturer of compact and mimidsizedehicles on consignment from Toyota Motor Corporation (TMTM our vehicle business is responsible for ealegalizinguality, low cost, and delivery that satisfies customers. The entire division comes together to strive for improvement and innovation in unison and always strives to realize the most advanced manufacturing. Our vehicle business has been manufacturing the popular ViVitaYaYardsutside Japan) since 1999 and the RARAVEince 2001 under consignment from TMTMnd continuously produces them at high standards.

In that time, there has not been a single case of a serious quality problem in the manufacturing process. In competition with the other automobile manufacturers of the Toyota Group hrwroughthe world, Toyota Industries’ vehicle business continues to maintain high standards in terms of quality, low-cost, and delivery. In 2006, we once again earned the Superior Quality Performance Award presented to suppliers by TMTMIn addition, we give top priority to the safety of our employees, (including the growing number of temporary workers) during the production process and continue to pursue thorough safety management systems in the workplace.

These improvements reduced the total production preparation load by 50% and spread that load more evenly across the entire roreductionreparation process. Furthermore, at the request of TMTMmembers of our manufacturing department participated in production preparations for the YaYardsn France utilizing their experiences in Japan. Technological Environment Toyota takes measures in environmental issues surrounding vehicles Due to the global development of the industry and technology in the 20th century, increased production of vehicles and the growing population resulted in massive consumption of fossil fuels.

Today we face three challenges regarding environmental and energy issues, which are finding an alternative neenergyource as opposed to oil, reducing C0CAmissions, and preventing air pollution. Oil is currently the main source of automotive fuel, but further research and development of alternative energy in the future may bring change. Various poperpetrationssuch as those found in Plug in Hybrid vehicles, electric vehicles and fuel cell vehicles, will be required in order to use diversified types of fuels.

Characteristics of Oil Alternative Fuels Electricity, hydrogen, bibodilessnd natural gas are good alternatives for fossil fuel, but each source has their own disadvantages. The left figure shows omampereshe energy density Of each alternative fuel. Toyota takes measures in environmental issues surrounding vehicles For more improvements in efficiency, Toyota proactively manages poperpetrationfficiency, reduces vehicle load, and controls energy management by integration of fuel-saving technologies such as charge control, idling stop, etc.

For Achieving Sustainable Mobility Toyota has a long history of continuous improvement when it comes to conventional engines, including lean-burn gasoline engines, direct injection gasoline engines and common rail direct-injection diesel engines, as well as ngenginesodified to use alternative fuels, such as compressed natural gas (CNCNNor electricity (for Electric Vehicle). Legal environment Toyota Motor CoCorp.dmDemittedn 2010 that accelerator pedal defects affected several million Toyota, Scion, and Lexus cars and trucks, covering model years 2005 through 2010. The U. S. goGovernmentegan investigating Toyota brake problems after the car maker announced that the 201 0 PrPriesad a design defect. In addition to the brake problems, several Toyota drivers reported that accelerator pedals were getting stuck and causing dangerous acceleration. Affected cars and trucks were recalled and remedied free of charge.

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