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Toyota Aims for Global Joy Through Manufacturing Satisfaction

Discussing the fifth segment of the Ordinary General Shareholders' Meeting series, attention is focused on Toyota's philosophy, a point of interest raised by shareholders. This inspection delves into the reasons behind Akio Toyoda's creation of this guiding management principle.

Toyota's Objektive: Creating Happiness for Everyone
Toyota's Objektive: Creating Happiness for Everyone

Toyota Aims for Global Joy Through Manufacturing Satisfaction

In a bold move, Akio Toyoda, the President of Toyota, has unveiled the Toyota Philosophy – a new compass for management that aims to guide the company towards a brighter, more sustainable future.

The philosophy, first announced at Toyota's financial results briefing for the first half and second quarter of its fiscal year ended March 31, 2021, is a reflection of Toyoda's vision for the next generation. He wants them to spend their time focusing on the future, rather than being weighed down by the past.

The Toyota Philosophy, a successor to the Toyoda Principles compiled in 1935, was released last year. It is a testament to Toyota's commitment to continuous improvement, a principle that has been at the heart of the company since the development of the Toyota Production System in the mid-20th century by Taiichi Ohno.

Toyota is not just talking about change; it is actively working towards it. The company is striving to transform itself into a mobility company, creating an "ever-better mobility society". This transformation is evident in initiatives such as Woven City, a futuristic urban development project that aims to demonstrate a mobility society that connects people and makes them happy.

Akio Toyoda believes that diversity in values and abilities will be crucial for innovation in the future. He sees cars of the future as being connected to communities and people's lives through information, becoming an integral part of the social system. Woven Planet, a software company of the Toyota Group, is at the forefront of this diversity and innovation.

The Toyota Philosophy's mission is still defined as "producing happiness for all". Akio Toyoda interprets people's happiness as the 18th goal, which can only be realized by seriously striving to realize the 17 Social Development Goals (SDGs). He hopes to move step by step towards the future, arriving at a world of the 18th SDG with the help of many stakeholders.

Toyota is not embarking on this journey alone. The company is working on initiatives with various partners beyond the way it has done things before. Akio Toyoda's strong desire not to let anyone else go through the same hardships he experienced might be why the Toyota Philosophy was created. He believes that happiness is the ultimate goal, and he is determined to make it a reality for everyone.

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