ToyotaFrom Wikipedia, the free encyclopediaJump to: navigation , search For other uses, seeToyota (disambiguation).Toyota Motor CorporationNative nameトヨタ自動車株式会社 Romanized nameToyota Jidosha KK Type Kabushiki gaisha (JPN)Public (US)Traded as TYO : 7203 LSE : TYTNYSE : TMIndustryAutomotive FoundedAugust 28, 1937 Founder(s)Kiichiro Toyoda HeadquartersToyota, Aichi , Japan Area served WorldwideKey people Takeshi Uchiyamada(Chairman )Akio Toyoda(President and CEO )Products Automobiles, Luxury Vehicles ,commercial vehicles , engines,motorcyclesProductionoutput9,909,440 units (CY 2012)[1]ServicesBanking , financing , leasing Revenue ¥22.064 trillion (FY 2013) [2]Operating income ¥1.320 trillion (FY 2013) [2] Profit¥962.1 billion (FY 2013)[2] Total assets¥35.483 trillion (FY 2013)[2] Total equity¥12.773 trillion (FY 2013)[2] Employees 333,498[3]Parent Toyota GroupDivisions Lexus ScionSubsidiaries 522 (Toyota Group) List[show]oWebsite Toyota GlobalToyota Motor Corporation (トヨタ自動車株式会社Toyota Jidōsha KK?, IPA: [toꜜjota]) /tɔɪˈoʊtə/ is a Japanese automaker headquartered in Toyota, Aichi, Japan. In 2013 the multinational corporation consisted of 333,498 employees worldwide[3] and, as of March 2013, is thethirteenth-largest company in the world by revenue. Toyota was the largest automobile manufacturer in 2012 (by production),[4] and in July of that year, the company reported the production of its 200-millionth vehicle.[5] As of November 2013, it is also the largest listed company in Japan by market capitalization (worth more than twice as much as #2-ranked SoftBank)[6] and by revenue.[7]The company was founded by Kiichiro Toyoda in 1937 as a spinoff from his father's company Toyota Industries to create automobiles. Three years earlier, in 1934, while still a department of Toyota Industries, it created its first product, the Type A engine, and, in 1936, its first passenger car, the Toyota AA. Toyota Motor Corporation group companies are Toyota (including the Scion brand), Lexus, Daihatsu, and Hino Motors,[8] along with several "nonautomotive" companies.[9]TMC is part of the Toyota Group, one of the largest conglomerates in the world.Contents[hide]∙ 1 Corporate governanceo 1.1 Financial results∙ 2 Historyo 2.1 1920's-1930'so 2.2 1940's-1950'so 2.3 1960's-1970'so 2.4 1980'so 2.5 1990'so 2.6 2000'so 2.7 2010's∙ 3 Logo and brandingo 3.1 Marketing▪ 3.1.1 Japano 3.2 Sports∙ 4 Company strategyo 4.1 Operationso 4.2 Worldwide presence▪ 4.2.1 North America∙ 5 Product lineo 5.1 Electric technology▪ 5.1.1 Hybrid electric vehicles▪ 5.1.2 Plug-in hybrids▪ 5.1.3 All-electric vehicles▪ 5.1.4 Hydrogen fuel-cello 5.2 Cars▪ 5.2.1 SUVs and crossovers▪ 5.2.2 Pickup trucks▪ 5.2.3 Luxury-type vehicles ∙ 6 Motorsporto 6.1 TRD∙7 Non-automotive activitieso7.1 Aerospaceo7.2 Philanthropyo7.3 Higher educationo7.4 Roboticso7.5 Agricultural biotechnology ∙8 Environmental record∙9 Production and sales numbers∙10 See also∙11 References∙12 External linksCorporate governance[edit]Principal headquarters building of ToyotaAnother Toyota headquarters building in Toyota City, JapanToyota is headquartered in Toyota City, Aichi.[3] The main headquarters of Toyota is located in a three story building in Toyota. As of 2006 the head office has the "Toyopet" Toyota logo and the words "Toyota Motor". The Toyota Technical Center, a 14-story building, and the Honsha plant, Toyota's second plant engaging in mass production and formerly named the Koromo plant, are adjacent to one another in a location near the headquarters. Vinod Jacob from The Hindu described the main headquarters building as "modest".[10] In 2013 company head Akio Toyoda reported that it had difficulties retaining foreign employees at the headquarters due to the lack of amenities in Toyota.[11]Its Tokyo office is located in Bunkyo, Tokyo. Its Nagoya office is located in Nakamura-ku, Nagoya.[3] In addition to manufacturing automobiles, Toyota provides financial services through its Toyota Financial Services division, and also builds robots.Akio Toyoda, CEO of Toyota, at the annual results press conference, May 11, 2011Toyota's global network:Red - JapanGreen - Official dealership(s) present.Blue - Localized manufacturing plant(s)Light Blue - Regional headquarters (HQ)Dark Blue - Regional headquarters (HQ) and localized manufacturing plantsTypical breakdown of sales by regionPresident of Toyota Motor Company:∙Rizaburo Toyoda (1937–1941)∙Kiichiro Toyoda (1941–1950)∙Taizo Ishida (1950–1961)∙Fukio Nakagawa (1961–1967)∙Eiji Toyoda (1967–1981)∙Shoichiro Toyoda (1982-1992)∙Tatsuro Toyoda (1992-1995)∙Hiroshi Okuda (1995-1999)∙Fujio Cho (1999-2005)∙Katsuaki Watanabe (2005-2009)In 1981, Toyota Motor Co., Ltd. announced plans to merge with its sales entity Toyota Motor Sales Co., Ltd. Since 1950, the two entities existed as separate companies due to a prerequisite for reconstruction in postwar Japan. Shoichiro Toyoda presided over Toyota Motor Sales in preparation for the consummation of the merger that occurred in 1982—Shoichiro then succeeded his uncle Eiji as the President of the combined organization that then became known as Toyota Motor Corporation.President of Toyota Motor Corporation:∙Eiji Toyoda (1981)∙Shoichiro Toyoda (1982–1992)CEO of Toyota Motor Corporation:∙Dr. Tatsuro Toyoda (1992–1995)∙Hiroshi Okuda (1995–1999)∙Fujio Cho (1999–2005)∙Katsuaki Watanabe (2005–2009)∙Akio Toyoda (2009–present)Chairman of Toyota Motor Corporation:∙Shoichiro Toyoda (1992–1999)∙Hiroshi Okuda (1999–2006)∙Fujio Cho (2006–2013)∙Takeshi Uchiyamada (2013–present)On June 14, 2013, Toyota Motor Corp. announced the appointment of outside board members; the appointment was a first for the corporation and occurred following approval from general shareholders at a meeting on the same day. Additionally, Vice Chairman Takeshi Uchiyamada replaced Fujio Cho as chairman, as the latter became an honorary chairman, while Toyoda remains in the post of President.[12]Toyota is publicly traded on the Tokyo, Osaka, Nagoya, Fukuoka, and Sapporo exchanges under company code TYO: 7203. In addition, Toyota is foreign-listed on the New York Stock Exchange under NYSE: TM and on theLondon Stock Exchange under LSE: TYT. Toyota has been publicly traded in Japan since 1949 and internationally since 1999.[13]As reported on its consolidated financial statements, Toyota has 540 consolidated subsidiaries and 226 affiliates.∙Toyota Motor North America (100% – 2004)∙Toyota Canada Inc. owned via Toyota Motor North America∙Toyota Tsusho– Trading company for the Toyota Group∙Daihatsu Motor Company (51.2% – March 31, 2006)∙Hino Motors (50.1% – 2001)∙Lexus 100% (1989)∙Scion 100% (2003)∙DENSO (24.74% – September 30, 2006)∙Toyota Industries (23.51% – March 31, 2006)∙Aisin Seiki Co. (23.0% – September 30, 2006)∙Fuji Heavy Industries (16.66% – June 28, 2008)∙Isuzu Motors (5.9% – November 10, 2006)∙PT Toyota Astra Motor (49% – 2003)∙PT Toyota Motor Manufacturing Indonesia[14] (95% – 2003) Financial results[edit]In 2011, the Toyota Group (including Daihatsu, Hino and Chinese joint ventures) fell to place three with 8,050,181 units produced globally.[15] According to an unofficial count, based on unit production reported by major automakers, Toyota regained its top rank with 9,909,440 units produced globally in calendar 2012.[16] On May 8, 2013, Toyota announced plans to produce 10.1 million units in fiscal 2013, which, if achieved, would make it the first auto manufacturer to cross the 10 million unit threshold.[17]On May 8, 2009, Toyota reported a record annual net loss of US$4.2 billion, making it the latest automobile maker to be severely affected by the global financial crisis that started in 2007. Toyota's financial unit had asked for an emergency loan from a state-backed lender on March 16, 2009, with reports putting the figure at more than US$3 billion. It said the international financial situation was squeezing its business, forcing it to ask for an emergency loan from the Japan Bank for International Cooperation. This was the first time the state-backed bank has been asked to lend to a Japanese car manufacturer.[18]On May 8, 2013, Toyota Motor Corporation announced its financial results for the fiscal year ended March 31, 2013. Net revenues totaled 22.0trillion yen (US$ 216,7 billion, +18.7%). Operating income was 1.32 trillion yen (US$13 billion, +371%), net income 962.1 billion yen (US$9.47 billion, +339%).[19]History[edit]Main article: History of Toyota1920's-1930's[edit]Toyota was started in 1933 as a division of Toyoda Automatic Loom Works devoted to the production of automobiles under the direction of the founder's son, Kiichiro Toyoda.[20]Its first vehicles were the A1passenger car and the G1 in 1935. The Toyota Motor Co. was established as an independent company in 1937. In 2008, Toyota's sales surpassed General Motors, making Toyota number one in the world.[21]Mass production of Toyoda automated loom, displayed at the Toyota Museum in Nagakute-cho, Aichi-gun, Aichi Pref. JapanIn 1924, Sakichi Toyoda invented the Toyoda Model G Automatic Loom. The principle of Jidoka, which means the machine stops itself when a problem occurs, became later a part of the Toyota Production System. Looms were built on a small production line. In 1929, the patent for the automatic loom was sold to a British company, generating the starting capital for the automobile development.[22]Toyoda Standard Sedan AA 1936Vehicles were originally sold under the name "Toyoda" (トヨダ), from the family name of the company's founder, Kiichirō Toyoda. In April 1936, Toyoda's first passenger car, the Model AA, was completed. The sales price was 3,350 yen, 400 yen cheaper than Ford or GM cars.[23]House of Toyota founder Kiichiro Toyoda, near Toyota City[24]In September 1936, the company ran a public competition to design a new logo. Of 27,000 entries, the winning entry was the three Japanese katakana letters for "Toyoda" in a circle. But Risaburō Toyoda, who had married into the family and was not born with that name, preferred "Toyota" (トヨタ) because it took eight brush strokes (a lucky number) to write in Japanese, was visually simpler (leaving off the diacritic at the end) and with a voiceless consonant instead of a voiced one (voiced consonants are considered to have a "murky" or "muddy" sound compared to voiceless consonants, which are "clear").Inside the house of Toyota founder Kiichiro Toyoda, near Toyota CitySince "Toyoda" literally means "fertile rice paddies", changing the name also prevented the company from being associated with old-fashioned farming. The newly formed word was trademarked and the company was registered in August 1937 as the "Toyota Motor Company".[25][26][27]First-generation Toyopet Crown Model RSD (1955/1 – 1958/10)Toyota at the Rally Dakar, 19921940's-1950's[edit]From September 1947, Toyota's small-sized vehicles were sold under the name "Toyopet" (トヨペット).[28]The first vehicle sold under this name was the Toyopet SA,[29] but it also included vehicles such as the Toyopet SB light truck, Toyopet Stout light truck,[30]Toyopet Crown, Toyopet Master, and the Toyopet Corona. The word "Toyopet (Japanese article)" was a nickname given to the Toyota SA due to its small size, as the result of a naming contest the Toyota Company organized in 1947. However, when Toyota eventually entered the American market in 1957 with the Crown, the name was not well received due to connotations of toys and pets.[31] The name was soon dropped for the American market, but continued in other markets until the mid-1960s.1960's-1970's[edit]By the early 1960s, the US had begun placing stiff import tariffs on certain vehicles. The chicken tax of 1964 placed a 25% tax on imported light trucks.[32] In response to the tariff, Toyota, Nissan Motor Co. and Honda Motor Co. began building plants in the US by the early 1980s.[32]1980's[edit]With over 30 million sold, the Corolla is one of the most popular and best selling cars in the world.Toyota received its first Japanese Quality Control Award at the start of the 1980s and began participating in a wide variety of motorsports. Due to the 1973 oil crisis, consumers in the lucrative US market began turning to small cars with better fuel economy. American car manufacturers had considered small economy cars to be an "entry level" product, and their small vehicles employed a low level of quality to keep the price low.In 1982, the Toyota Motor Company and Toyota Motor Sales merged into one company, the Toyota Motor Corporation. Two years later, Toyota entered into a joint venture with General Motors called the New United Motor Manufacturing, Inc, NUMMI, operating an automobile-manufacturing plant in Fremont, California. The factory was an old General Motors plant that had been closed for two years. Toyota then started to establish new brands at the end of the 1980s, with the launch of their luxury division Lexus in 1989.1990's[edit]In the 1990s, Toyota began to branch out from producing mostly compact cars by adding many larger and more luxurious vehicles to its lineup, including a full-sized pickup, the T100 (and later the Tundra); several lines of SUVs; a sport version of the Camry, known as the Camry Solara; and the Scion brand, a group of several affordable, yet sporty, automobiles targeted specifically to young adults. Toyota also began production of the world's best-selling hybrid car, the Prius, in 1997.With a major presence in Europe, due to the success of Toyota Team Europe, the corporation decided to set up Toyota Motor Europe Marketing and Engineering, TMME, to help market vehicles in the continent. Two years later, Toyota set up a base in the United Kingdom, TMUK, as the company's cars had become very popular among British drivers. Bases in Indiana, Virginia, and Tianjin were also set up. In 1999, the company decided to list itself on the New York and London Stock Exchanges.2000's[edit]In 2001, Toyota's Toyo Trust and Banking merged with two other banks to form UFJ Bank, which was accused of corruption by Japan's government for making bad loans to alleged Yakuza crime syndicates with executives accused of blocking Financial Service Agency inspections.[33] The UFJ was listed among Fortune Magazine's largest money-losing corporations in the world, with Toyota's chairman serving as a director.[34] At the time, the UFJ was one of the largest shareholders of Toyota. As a result of Japan's banking crisis, UFJ merged with the Bank of Tokyo-Mitsubishi to become the Mitsubishi UFJ Financial Group.In 2002, Toyota managed to enter a Formula One works team and establish joint ventures with French motoring companies Citroën and Peugeot a year after Toyota started producing cars in France.Toyota ranked eighth on Forbes 2000list of the world's leading companies for the year 2005[35]but slid to 55 for 2011.[36]The company was number one in global automobile sales for the first quarter of 2008.[37]In 2007, Toyota released an update of its full-size truck, the Tundra, produced in two American factories, one in Texas and one in Indiana. "Motor Trend" named the Tundra "Truck of the Year," and the 2007 Toyota Camry "Car of the Year" for 2007. It also began the construction of two new factories, one to build the RAV4 in Woodstock, Ontario, Canada, and the other to build the Toyota Prius in Blue Springs, Mississippi, USA. This plant was originally intended to build the Toyota Highlander, but Toyota decided to use the plant in Princeton, Indiana, USA, instead. The company has also found recent success with its smaller models—the Corolla and Yaris—as gasoline prices have risen rapidly in the last few years.From November 2009 through 2010, Toyota recalled more than 9 million cars and trucks worldwide in several recall campaigns, and briefly halted production and sales.[38]Toyota initiated the recalls, the first two with the assistance of the U.S. National Highway Traffic Safety Administration(NHTSA), after reports that several vehicles experienced unintended acceleration.Main article: 2009–2010 Toyota vehicle recalls2010's[edit]In 2011, Toyota, along with large parts of the Japanese automotive industry, suffered from a series of natural disasters. The 2011 Tōhoku earthquake and tsunami led to a severe disruption of the supplier base and a drop in production and exports.[39][40]Severe flooding during the 2011 monsoon season in Thailand affected Japanese automakers that had chosen Thailand as a production base. Toyota estimated to have lost production of 150,000 units to the tsunami and production of 240,000 units to the floods.In October 2012, Toyota announced a recall of 7.43 million vehicles worldwide to fix malfunctioning power window switches, the largest recall since that of Ford Motor Company in 1996. The move came after a series of recalls between 2009 and 2011 in which it pulled back around 10 million recalls amidst claims of faulty mechanics.[41]Logo and branding[edit]Employee at Toyota Museum explains development of Toyota name and brandIn 1936, Toyota entered the passenger car market with its Model AA and held a competition to establish a new logo emphasizing speed for its new product line. After receiving 27,000 entries, one was selected that additionally resulted in a change of its moniker to "Toyota" from the family name "Toyoda". The new name was believed to sound better, and its eight-stroke count in the Japanese language was associated with wealth and good fortune. The original logo no longer is found on its vehicles, but remains the corporate emblem used in Japan.Still, no guidelines existed for the use of the brand name, "TOYOTA", which was used throughout most of the world, which led to inconsistencies in its worldwide marketing campaigns.To remedy this, Toyota introduced a new worldwide logo in October 1989 to commemorate the 50th year of the company, and to differentiate it from the newly released luxury Lexus brand. The logo made its debut on the 1989 Toyota Celsior and quickly gained worldwide recognition. The three ovals in the new logo combine to form the letter "T", which stands for Toyota. The overlapping of the two perpendicular ovals inside the larger oval represent the mutually beneficial relationship and trust between the customer and the company, while the larger oval surrounding both of these inner ovals represents the "global expansion of Toyota's technology and unlimited potential for the future."[42][43]The new logo started appearing on all printed material, advertisements, dealer signage, and the vehicles themselves in 1990.In predominantly Chinese-speaking countries or regions using traditional Chinese characters, e.g. Hong Kong and Taiwan, Toyota is known as "豊田".[44] In predominantly Chinese-speaking countries using simplified Chinese characters (e.g. China and Singapore), Toyota is known as "丰田"[45](pronounced as "Fēngtián" in Mandarin Chinese and "Hɔng Tshan" in Minnanese). These are the same characters as the founding family's name "Toyoda" in Japanese, which translate to "fertile rice paddies" in the Chinese language, as well.Marketing[edit]MEGAWEB, Toyota's permanent exhibition showroom and museum in Odaiba, TokyoUnited States advertising slogansToyota's marketing efforts in North America have focused on emphasizing the positive experiences of ownership and vehicle quality.[46] The ownership experience has been targeted in slogans such as "You asked forit! You got it!" (1975–1979), "Oh, what a feeling!" (1979 – September 1985, in the US),[46] "Who could ask for anything more?" (September 1985 –1989),[47]"I love what you do for me, Toyota!" (1989–1997), "Everyday" (1997–2001)", "Get the feeling!" (2001–2004), "Moving Forward" (2004–2012),[48] and "Let's Go Places" (2012–present).[49]Japan[edit]Toyopet Store SaitamaIn Japan, Toyota currently maintains separate dealership sales channels, called "Toyota Store" (トヨタ店) that were established in 1949, which sell large luxury sedans such as the Toyota Century, and the Toyota Crown, and "Toyopet Store" (トヨペット店), that was originally established to sell the Toyota Corona and the Toyopet Toyoace truck in 1956.(Toyota's five channel dealerships in Japan chronology in Japanese) Toyota also established a commercial dealership called Toyota Diesel Shop (トヨタディーゼル店) from 1957 until 1988, that sold various commercial platform trucks, buses, and forklifts, such as the Toyota Dyna and the Toyota Coaster. Hino products were sold at specific Hino locations, and shared at Toyota Diesel Store locations after Toyota acquired the company in 1967. Starting in 1980, the Diesel Shop also sold the Starlet, Corolla, Corona, Vista and Crown installed with diesel engines. When the Toyota Diesel Store was disbanded, commercial products were divided between Toyota Store and Toyopet Store locations.[50]Currently, the "Toyota Corolla Store" (トヨタカローラ店) was renamed from the "Toyota Publica Store" (トヨタパブリカ店), which was established to sell the Toyota Publica in 1961, then renamed to sell the Toyota Corolla in 1966.In 1980, the "Toyota Vista Store" replaced the "Toyota Auto Store" (トヨタオート店) sales network that sold the Corolla companion, called the Toyota Sprinter established in 1966. The "Vista" name was used on a new Camry-clone, called the Toyota Vista. The Toyota Vista network was replaced with two networks; "Toyota NETZ" (ネッツ店) in August 1998, andLexus in 2004. Some former Vista models were rebranded as Lexus (レクサス), such as the Altezza and the Aristo, while other products have been taken over by the "Toyota NETZ", which was already selling the Toyota ist and the Toyota RAV4. "NETZ" is an acronym for "Network of Energetic Teams for Zenith".Netz locations are being repositioned to resemble the North American Toyota network, called Scion, and are currently exclusive for the Toyota 86. Most models were exclusive to particular retail chains, while some models, like the Prius, are available at all sales channels. These models are available at retail channels nationally, as retail chains in Tokyo and Osaka are different.Vehicles sold at Toyota Store (Nationally)Toyota Century, Toyota Crown Majesta, Toyota Crown, Toyota Master, Toyota SAI, Toyota Prius, Toyota Allion, Toyota Succeed, Toyota Blade, Toyota Corolla RunX, Toyota Porte, Toyota Estima, Toyota Isis, Toyota FJ Cruiser, Toyota Comfort, Toyota Land Cruiser, Toyota Hilux Surf, Toyota Land Cruiser Prado, Toyota Dyna, Toyota Stout, Toyota Coaster, Toyota QuickDelivery, Toyota 2000GT, Toyota Carina, Toyota Carina ED, Toyota Brevis, Toyota Gaia, Toyota Cavalier, Toyota Classic, Toyota MasterAce, Toyota Hilux, Toyota Mega Cruiser, Toyota Soarer, Toyota Origin, Toyota CaldinaVehicles sold at Toyopet Store (Nationally)Toyota Mark X, Toyota SAI, Toyota Premio, Toyota Prius, Toyota Belta, Toyota Mark X ZiO, Toyota Succeed, Toyota Ractis, Toyota Blade, Toyota Porte, Toyota Harrier, Toyota Vanguard, Toyota Rush, Toyota Alphard, Toyota Comfort, Toyota Hiace, Toyota Toyoace, Toyota Pixis Space, Toyota Mark II-Mark II Qualis-Mark II Blit, Toyota Corona, Toyota Corona EXiV, Toyota Corona Coupe, Toyota Corsa, Toyota Opa, Toyota Avalon, Toyota Progrès, Toyota Cami, Toyota ist, Toyota Platz, Toyota Soarer, Toyota Hilux, Toyota Cynos, Toyota Regius, Toyota Celsior, Toyota Origin, Toyota Caldina, Toyota IpsumVehicles sold at Toyota Corolla Store (starting 1966) formerly Toyota Public Store (Nationally)Toyota SAI, Toyota Camry, Toyota Prius, Toyota Corolla Axio, Toyota Belta, Toyota Probox, Toyota Corolla Rumion, Toyota Ractis, Toyota Passo, Toyota Sera, Toyota Vanguard, Toyota Estima, Toyota Noah, Toyota Sienta, Toyota TownAce, all Daihatsu products, Toyota Publica, Toyota Tercel, Toyota Windom, Toyota Scepter, Toyota Corolla Ceres, Toyota Origin, Toyota Nadia,Toyota WiLL, Toyota RAV4, Toyota Kluger, Toyota Sports 800, Toyota Celica, Toyota Supra, Toyota Corolla Levin, Toyota Celica XXVehicles sold at Netz Store (starting 1998) formerly Toyota Vista Store (starting 1980) formerly Toyota Auto Store (starting 1966)(Nationally)Toyota Vitz, Toyota SAI, Toyota Prius, Toyota ist, Toyota Auris, Toyota bB, Toyota Avensis, Toyota Raum, Toyota Wish, Toyota Voxy, Toyota RAV4, Toyota Vellfire, Toyota iQ, Toyota Allex, Toyota Fun Cargo, Toyota Altezza, Toyota Verossa, Toyota Curren, Toyota Aristo, Toyota MR-S, Toyota MR2, Toyota Starlet, Toyota Vista, Toyota Cresta, Toyota Sprinter, Toyota Voltz, Toyota Blizzard, Toyota Chaser, Toyota Sprinter Marino, Toyota Carib, Toyota Granvia, Toyota Sprinter Trueno, Toyota LiteAce, Toyota Ipsum, Saturn S-series (1996-2003), Toyota 86, WiLL (1999-2004)Sports[edit]Further information: Toyota Racing Development, Toyota in motorsports, and Toyota Motorsport GmbHToyota sponsors several teams and has purchased naming rights for several venues, including:∙Toyota Center, Houston, Texas∙Toyota Center, Kennewick, Washington∙Toyota Field, San Antonio, Texas∙Toyota Park, Bridgeview, Illinois∙Toyota Sports Center, El Segundo, California∙Toyota Stadium, Georgetown, Kentucky∙Toyota Stadium, Frisco, TexasCompany strategy[edit]Main article: The Toyota WayToyota's management philosophy has evolved from the company's origins and has been reflected in the terms "Lean Manufacturing" and Just In Time Production, which it was instrumental in developing.[51] Toyota's managerial values and business methods are known collectively as the Toyota Way.In April 2001, Toyota adopted the "Toyota Way 2001", an expression of values and conduct guidelines that all Toyota employees should embrace. Under the two headings of Respect for People and Continuous Improvement, Toyota summarizes its values and conduct guidelines with the following five principles:[52]∙Challenge∙Kaizen (improvement)∙Genchi genbutsu (go and see)∙Respect∙TeamworkAccording to external observers, the Toyota Way has four components:[53]1.Long-term thinking as a basis for management decisions2. A process for problem-solving3.Adding value to the organization by developing its people4.Recognizing that continuously solving root problems drivesorganizational learningThe Toyota Way incorporates the Toyota Production System. Operations[edit]Main article: Toyota Production SystemNew Toyota factory in Ohira, near Sendai, Miyagi Prefecture, Japan: A month after this picture was taken, the region was devastated by the March 11 earthquake and tsunami. The plant was only lightly damaged, but remained closed for more than a month, mainly due to lack of supplies and energy, in addition to a badly damaged Sendai port.Toyota has long been recognized as an industry leader in manufacturing and production. Three stories of its origin have been found, one that they studied Piggly-Wiggly's just-in-time distribution system,[54] one that they followed the writings of W. Edwards Deming,[55]and one that they were。
