Toyota's Success, Accredited by Akio, Stems from the Company's Focus on Helping Others
In the 116 Ordinary General Shareholders' Meeting, Akio Toyoda, President of Toyota Motor Corporation, discussed the importance of "surviving" for the industry and society. Amid the harsh economic environment this winter, Toyota is making every effort to maintain its supply chains, human resources, technologies, and foundations of production following the COVID-19 pandemic.
Toyota is deeply concerned about the financial stability of its suppliers and dealers, who may not be able to extend their profit along the same lines as Toyota. Akio emphasized that if companies cannot survive together, they cannot continue to survive. He stated that if there is not even one winner, the industry cannot be supported, nor can the country.
Akio believes that Toyota is being reborn into a company that can apply its strength for the benefit of others. He expressed the desire to make a world where they can survive and make real friends. Toyota is using its strength to do things for others, rather than for itself.
Toyota is collaborating with several companies, including Panasonic, Isuzu, Subaru, Mazda, Suzuki, Denso, Aisin, and Toyota Tsusho, to strengthen society and serve people. The company is making efforts to understand the problems of its suppliers and is assisting them with financing, production support, and adjusted delivery dates.
Akio repeatedly emphasized the meaning of "being the only winner" in challenging times. He asked what would happen if there were no winners at all, implying the importance of Toyota's success for the industry and the country. Akio Toyoda stated that those who survive should use their strengths for the benefit of people in society.
Akio expressed his concern that the severe situation of suppliers' revenue, due to market declines and tough competition, may make it difficult to grasp the situations of second-tier suppliers and beyond. However, Toyota realizes the importance of its greater-than-30,000-strong supply chain. The executives share the same understanding and feelings as Akio about "surviving together."
Toyota intends to do everything it can to help its suppliers and dealers survive, as the company believes that if they can survive, they can continue to contribute to society and the industry. Akio emphasized the need for Toyota, dealers, and the Japanese automotive industry to survive in the current challenging times.
Akio Toyoda mentioned the possibility of no one ever winning in the context of Toyota's forecasted profit of 500 billion yen for the current fiscal period. However, he believes that Toyota is being reborn into a company that can apply its strength for the benefit of others. Akio expressed his hope that Toyota, along with its partners, can survive and thrive in the coming years.
