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Toyota Industries Report 2017

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Toyota Industries Report 2017 Toyota Industries Report 2017 Toyota Toyota Industries Report Year ended March 31, 2017 Message from the Chairman and President Firstly, we would like to extend our sincere appreciation for Besides these approaches, we will work to hone our your continued support of Toyota Industries Corporation manufacturing capabilities, which are one of our core and the Toyota Industries Group. strengths, and further bolster product competitiveness. In fiscal 2017 (ended March 31, 2017), the global To this end, we will differentiate Toyota Industries not economy mildly expanded, driven by monetary and only through the development of technologies based on financial policies in respective countries despite a the keyword of the 3Es, which we define as “energy,” deceleration of the Chinese economy and the anticipated “environmental protection” and “ecological thinking,” but impact of the U.K.’s decision to leave the EU. Although also through our production engineering technologies. modestly, the Japanese economy continued to grow due In addition, we aim to leverage new growth potentials primarily to increases in capital investment and exports in through several measures. They include taking advantage addition to a recovery in consumer spending. of such structural changes as progress in electrification In this business environment, Toyota Industries and the rapid growth of e-commerce in the automobile and Corporation and its Group companies (“Toyota Industries”) materials handling equipment markets on a global scale; undertook efforts to ensure customer trust through a creating and providing customers with new values; and dedication to quality first as well as to expand sales by utilizing the Internet of Things (IoT) and artificial intelligence responding flexibly to market trends. As a result, unit sales (AI). To support such business development, we will were strong in each business division; however, net sales continue our efforts to create a workplace environment that in fiscal 2017 decreased owing mainly to the impact of enables diverse human resources to fully demonstrate their exchange rate fluctuations. In terms of profit, despite cost abilities and develop personnel who can play active roles in reduction efforts throughout the Toyota Industries Group, the global arena. sales efforts and declines in depreciation costs, we In other areas, Toyota Industries will create a workplace recorded a decrease in profit because of the impact of environment that places top priority on safety; thoroughly exchange rate fluctuations and an increase in labor costs. enforce compliance, including observance of laws With regard to the future economic outlook, the global and regulations; and proactively participate in social economy is expected to continue growing. However, contribution activities. By carrying out these initiatives, uncertainties surrounding the business environment we aim to broadly meet the trust of society and grow preclude optimism, as the future trend in monetary easing harmoniously with society. With regard to protection of in respective countries, protectionist policies spreading in the global environment, we will undertake Group-wide developed countries, a further deceleration of the Chinese initiatives in seeking to realize “a zero CO2 emissions economy and the occurrence of terrorism and conflicts society in 2050.” around the world require close monitoring. Through these initiatives, we aim for sustainable growth Under these circumstances, Toyota Industries is further of each business and strive to contribute to an enriched strengthening its business foundation and addressing key lifestyle and comfortable society around the world as management issues to raise corporate value by leveraging described in Toyota Industries’ Vision 2020 plan. the Group’s comprehensive strengths. As immediate tasks, we will endeavor to bolster our In closing, we would like to sincerely ask for your continued management platform to respond quickly to changes in the understanding and support. business environment that are accelerating year by year. Specifically, based on our quality first approach, we aim to July 2017 build a stronger production foundation by maintaining and improving productivity on a global basis. Furthermore, we will strive to build a lean corporate structure by thoroughly eliminating waste, by pursuing excellence in quality, cost Tetsuro Toyoda and product lead time throughout the global supply chain Chairman and by improving productivity in administrative functions. Moreover, we will strengthen risk management in order to quickly and appropriately respond to changes in the Akira Onishi world situation. President Chairman Tetsuro Toyoda (left)/President Akira Onishi (right) 1 Continuous Value Creation of the Materials Handling P32 Toyota Industries Group 2000— Equipment [ Strengthening Businesses Utilizing Strategic M&A and Based on the Basic Philosophy, Toyota Industries has provided products and services truly needed by Other Measures ] society by leveraging the technologies and know-how cultivated for more than 90 years since our Primarily in the Materials Handling Equipment Business, which grew to become one of our foundation. We will continue to strive for the sustainable growth of our businesses by further core businesses, we have pushed forward with contributing to the realization of an enriched lifestyle and comfortable society. expanding the value chain and making advances for global business development through such 1988— measures as strategic M&A, Fuel cell lift truck [ Becoming a Global Company ] thereby continuing our efforts to further strengthen our Amid an expansion in demand for lift trucks businesses. Basic Philosophy in North America and giving consideration [Respect for the Law] Toyota Industries is determined to comply with the letter and spirit of the law, in Japan and overseas, to trade frictions and impacts from Key cart Automobile P37 and to be fair and transparent in all its dealings. fluctuations in exchange rates, we established a manufacturing company for [Respect for Others] Toyota Industries is respectful of the people, culture, and traditions of each region and country in which lift trucks in the U.S. state of Indiana in it operates. It also works to promote economic growth and prosperity in those regions and countries. 1988. This move was subsequently [Respect for the Natural Environment] Through its corporate activities, Toyota Industries works to contribute to regional living conditions and followed by global production of car Aerial work platform social prosperity and also strives to offer products and services that are clean, safe, and of high quality. air-conditioning compressors, foundry [Respect for Customers] Toyota Industries conducts intensive product research and forward-looking development activities to parts and textile machinery, and Toyota Industries made great strides toward create new value for its customers. becoming a global company. [Respect for Employees] Toyota Industries nurtures the inventiveness and other abilities of its employees. It seeks to create a Low lift order picker climate of cooperation, so that employees and the Company can realize their full potential. GD diesel engine Electric compressor 1953— Electric lift truck [ Diversification and Expansion of Businesses ] We began production of engines and RAV4 Textile Machinery P43 assembly of vehicles in 1953 and Automated storage production of lift trucks in 1956 in our and retrieval system efforts to diversify our businesses, LA-type internal-combustion DC-DC converter lift truck followed by production of car Towing tractor air-conditioning compressors in 1960. We continued to engage in research and Vitz (Yaris outside Japan) development to nurture new businesses We encapsulated the spirit of and build the foundation for future growth. Variable-displacement JAT810 air-jet loom founder Sakichi Toyoda in the type compressor Toyoda Precepts, which serve as 1926— Toyota Industries’ corporate creed S-type gasoline and upon which our Basic [ The Beginning ] engine Publica pickup truck Philosophy is based. After putting a lot of effort into research and trials, Sakichi RX300 ring spinning frame Toyoda finally invented and completed the Type G automatic loom. Toyoda Automatic Loom Works, Ltd. Yarn quality measurement (now Toyota Industries Corporation) was established to instrument manufacture the loom in 1926. Carrying on his spirit of Fixed-displacement type compressor RX100 ring spinning frame being studious and creative, we embarked on a path to undertake the development and production of JA air-jet loom Japanese-made spinning machinery and automobiles. Type G automatic loom Toyota Industries’ [Main Scope of CSR Activities] CSR Activities Contribution in Contribution as non-business areas • Adhering to a quality first approach, we ensure monozukuri (manufacturing) that quickly responds to a corporate citizen Fairness, transparency, the diverse, ever-changing needs of customers. (Relationship with Our Customers) respect for human rights Foundation of • We encourage open procurement and seek co-existence and co-prosperity with our business partners Ethical responsibility / and cultures, environmental business activities Compliance conservation (suppliers) based on mutual trust. (Relationship with Our Business Partners) Corporate social • We strive for timely and appropriate information disclosure while promoting good communications with Our Continuous responsibility shareholders and investors. (Relationship with Our Shareholders
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