The new corporate structure of the Toyota Group aims to strengthen production in Japan
Toyota Motor Corporation ("Toyota" - President: Akio Toyoda) and its subsidiaries Toyota Auto Body Co., Ltd.. ("Toyota Auto Body" - President: Takuji Amioka) and Kanto Auto Works, Ltd.. ("Kanto Auto Works" - President: Tetsuo Hattori) have concluded an agreement for the conversion of Toyota Auto Body and Kanto Auto Works in 100% subsidiaries of Toyota through an exchange of shares (planned for January 2012).
In addition, Kanto Auto Works, Central Motor Co., Ltd.. ("Central Motor" - President: Toru Kuzuhara) and Toyota Motor Tohoku Corporation ("Toyota Tohoku" - President: Masami Sugiyama) have entered into an agreement to begin discussions about the merger and the possible integration of the three companies (target: July 2012).
Toyota believes that the new corporate structure that will result from these agreements will maximize the strengths of each company of the Toyota Group, Toyota will have to use the full potential of Group resources and promote the progression of monozukuri (conscientious manufacturing) in Japan .
The new roles of Toyota Auto Body and Kanto Auto Works aimed to strengthen their areas of specialization
Automakers Toyota Group has always supported the overall development of vehicles of Toyota and Lexus brands mainly by developing and producing models of individual vehicles. Henceforth, every automobile manufacturer group actively participate in the planning, development and the integrated specific types of vehicle production.
Since Toyota believes that giving a direction the power to take decisions in the general direction of the group and accelerate the rapidity of action of management are fundamental to facilitate these structural changes, the manufacturer has entered into agreements Toyota Auto Body and Kanto Auto Works.
Thanks to this new corporate structure, each automobile manufacturer will be more specialized and will be able to pay more attention and Target to react more quickly to the preferences of customers worldwide. In addition, Toyota believes that this will lead to monozukuri in Japan.
In addition, Toyota is now developing vehicles targeting overseas markets, support the preparation of overseas production and strengthen its capabilities in terms of the expansion of overseas operations that are vehicle-related.
Toyota Auto Body intends to assume a more active and substantial within the Toyota group, including role:
planning, development and integrated models of vehicles of specific products, such as mini-vans, commercial vehicles and SUVs (including those with a frame);
expanding overseas production of parts, components and vehicles, and the overall development of specialized vehicles and vehicle accessories;
the overall development of vehicles adapted for specific and ultra-compact electric vehicle needs, in which Toyota Auto Body is specialized.
Kanto Auto Works will:
take an active role in the planning, development and production of compact vehicles competitive on a global scale; and
assume a more active role to support the development and production of vehicles overseas and production of parts and components, mainly in connection with compact vehicles.
* See Appendix for details on exchanges of shares.
Discussion about the merger and the possible integration of Kanto Auto Works, Central Motor and Toyota Tohoku
Kanto Auto Works, Central Motor and Toyota Tohoku will begin discussions on a merger and integration that would result in the creation of a manufacturing hub of Toyota in the region of Tohoku, the third national manufacturing hub Toyota after those Chubu and Kyushu. Toyota believes that solidify the three hubs of its Japanese production and promote their independence strengthen monozukuri in Japan.
The company that result would aim to become a integral automobile manufacturer would manufacture parts and would support operations overseas, in addition to providing planning, development and production of compact cars for.
Henceforth, in accordance with industry consolidation Tohoku, Toyota expects that Chubu become the hub ensuring technological innovation, and Kyushu become the hub ensuring the production of intermediate vehicles and Lexus brand vehicles. Each hub will be responsible for developing its forces to promote the growth of the whole.
Thanks to the newly announced corporate structure, Toyota believes it will be a big step forward to achieve its goal of producing a vehicle that "will smile every customer who will buy one," a concept that was presented in the "Toyota Global Vision" announced in March 2011.
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