Assets
Toyota Motor Corporation (Japanese: トヨタ自動車株式会社 toyota jido: xia kabushikigayi?, TYO: 7203.T) or Toyota is the largest Japanese automotive corporation that also provides financial services and has several additional business areas. Headquarters - in the city of Toyota, Aichi Prefecture (Japan). The company ranks 5th in the Fortune Global 500 (2010).
Toyota Motor Corporation is a core member of Toyota Group. The Toyota brand is mainly associated with this company. The company logo depicts a stylized weaving loop and is associated with the fact that the company began its activities with the production of automatic looms.
Performance indicators
2024: Toyota closes production in China as nobody needs its cars there
2023
1st place in car sales in the world
In the list of companies with the largest R&D costs
For Amazon shows the costs of technology and content (not R&D).
ByteDance statistics date back to 2021 (according to the Wall Street Journal)
2022: Market Share of Internet-Connected Cars - 11.5%
Based on Q1 2019 to Q4 2022 data
2021
Toyota for the first time in history took 1st place in car sales in the United States
In 2021, Toyota for the first time in history took 1st place in car sales in the United States. US car giant General Motors has lost the title of best car seller in America for the first time in 90 years.
Toyota took first place, selling more than 2.3 million cars in 2021, increasing sales by 10%.
GM said its sales, down 13%, were hit by widespread semiconductor shortages that plague the entire auto industry.
The number of cars submitted is 9,562,483
2020: Global Automotive Market Share - 12.9%
Toyota's share of the global car market was 12.9% (Nikkei data). Read more here.
2019: Among the world's most profitable companies
Owners
The main shareholders of the company as of December 2008: The Master Trust Bank of Japan (6.29%), Japan Trustee Services Bank (6.29%), Toyota Industries Corporation (5.81%), 9% - treasury shares.
The chairman of the company is Fujio Cho. The president is Akio Toyoda.
Aktivs
The company produces passenger, trucks and buses under the brands Toyota, Lexus, Scion, Daihatsu, Hino.
Business in Russia
Main article: Toyota in Russia
Toyota Technology
Main article: Toyota Technology
History
2023
Not enough disk space. Toyota named the reason for the shutdown of all its factories
On September 6, 2023, Toyota Motor revealed the cause of a large-scale failure, due to which all 14 of the corporation's factories in Japan were shut down. The official statement says that the IT collapse was provoked by a lack of free space on server drives that ensure the operation of the concern's database.
The system failure, as specified, was caused by the unavailability of several servers processing orders for parts necessary for the production of vehicles. On August 27, 2023, Toyota specialists carried out planned preventive work, during which unnecessary data was deleted, and the information used was systematized. However, due to lack of disk space, an error occurred that disrupted the functioning of the IT infrastructure. As a result, all Japanese enterprises of the company temporarily suspended the production of cars.
It is also noted that the failure affected those servers that are used for backup storage of information. For this reason, it was not possible to make an operational switch to the auxiliary subsystem. The problem was fixed on August 29, 2023 due to the installation of a large storage system. After that, Toyota factories resumed work as usual.
 | We would like to once again apologize to our customers, suppliers and partners for any inconvenience caused by the suspension of Japanese plants as a result of a failure in the production order system. We also confirm that the problem is not related to a cyber attack, Toyota said in a statement. |  |
The amount of damage associated with the IT collapse is not reported. At the same time, the company notes that in the future it will revise the maintenance procedures and take the necessary measures to prevent such situations.[1]
Toyota's 14 plants shut down due to IT collapse
On August 29, 2023, Toyota Motor Corporation announced the forced shutdown of all its 14 factories in Japan. The reason is a large-scale failure that provoked an IT collapse.
Initially, Toyota announced the suspension of production at 12 enterprises. It was said that the failure did not affect the plant in Fukuoka Prefecture and the Daihatsu subsidiary plant in Kyoto, and therefore they continue to function as usual. However, it subsequently turned out that these facilities were also affected by problems in the IT infrastructure. In total, 25 assembly lines have been stopped, on which cars from both Toyota and the premium Lexus brand are made.
Toyota Corporation continues to investigate the causes of the failure, which is said not to have been triggered by the cyber attack. The problem is that the automaker cannot order and receive components for assembling machines due to "system problems." The affected businesses are estimated to account for about a third of Toyota's global production.
| | Fourteen automotive plants, with 25 lines, are unable to process part orders due to a system failure. At the moment, we believe that this is not related to cyber warfare. We will continue to find out the causes of the incident and plan to resume production as soon as possible, - said a Toyota representative. | |
Major automakers are experiencing a sharp surge in demand after easing restrictions related to the COVID-19 pandemic. However, an acute shortage of semiconductor components negatively affects output volumes. Toyota says chip shipments are improving, but it has to raise vehicle prices. The company is still experiencing delays in delivering new cars to customers.[2]
Millions of customers' data has been open since 2016 due to cloud misconfiguration
On May 31, 2023, Toyota Motor announced that information about its customers in some countries of Asia and Oceania, with the exception of Japan, remained publicly available for many years - from October 2016 to May 2023.
The issue is reportedly related to the misconfiguration of one of the cloud services operated by Toyota's Connected Corp. A variety of smart services are provided through this platform, including a smart key feature, 24-hour operator assistance, route building based on location data and traffic congestion alerts.
According to Toyota, the incorrect configuration of the cloud environment became known during an investigation initiated in connection with a large-scale leak of data from users of the T-Connect service. Experts have discovered errors in the settings of the platform, which is used to store client data collected by foreign dealers. This information is also necessary for vehicle maintenance.
The information of millions of Toyota car owners was publicly available: these are, in particular, names, physical addresses, phone numbers, email addresses, as well as vehicle identification and registration numbers. At the same time, Toyota emphasizes that the data on credit cards and the location of cars were not disclosed.
The automaker says that cases of unauthorized use of open information have not been recorded. However, theoretically, such information can be used by cybercriminals to organize phishing attacks and other fraudulent schemes for financial gain. Whether the owners of cars of the premium Lexus brand could have suffered is not specified.[3]
Toyota admitted that the data of 2.15 million car owners for 10 years were in the public domain
On May 12, 2023, the Japanese corporation Toyota Motor announced that information about approximately 2.15 million owners of its cars remained in the public domain for a decade. The reason was the human factor, and motorists who connected to the Toyota cloud services platform suffered.
According to the notice made public, the issue affected users of T-Connect, which provides a wide range of services, including AI algorithm-based voice driving assistance, automatic connection to call centers to drive a vehicle and emergency support in cases such as a traffic accident or feeling unwell.
Due to incorrect configuration, the T-Connect cloud system has become public, not private. Motorists who connected to the platform from the beginning of 2012 to mid-April 2023 were at risk. Information on the location of vehicles, as well as the identification numbers of automotive components and devices, got into the public domain. This applies to both Toyota cars and models of the premium Lexus brand.
After discovering the problem, Toyota took emergency action to block unauthorized access to the T-Connect platform and a similar G-Link system for Lexus car owners. It is emphasized that cases of using information that was in the public domain for fraudulent purposes are not recorded. However Japan , the Personal Information Protection Commission has already been informed of the incident. Toyota also said it would implement tools to audit cloud settings, create a system to continuously monitor such platforms and train employees more thoroughly on data rules.[4]
2022
Toyota remains the leader in car sales in the world for the third year in a row
In 2022, the Japanese corporation Toyota retained its leadership in the volume of car sales on a global scale. Thus, for the third year in a row, the company held this title, as evidenced by the data on deliveries published on January 30, 2023. Read more here.
Recognition of data leakage of 300 thousand customers and source software
On October 7, 2022, Toyota Motor Corporation issued a notice that third parties could gain unauthorized access to a database with information about approximately 296,000 customers of the company. Read more here.
Recall in Russia of thousands of defective cars due to faulty course stability system
Toyota is recalling thousands of defective cars in Russia due to a faulty course stability system (VSC). This was reported on July 8, 2022 by the Federal Agency for Technical Regulation and Metrology (Rosstandart). Read more here.
Recall of defective electric crossovers
On June 23, 2022, Toyota released a global recall of its electric crossovers bZ4X less than two months after they entered the market. Read more here.
Production shutdown at all Japanese factories due to cyber attack
Toyota Motor Corp. suspends production at all of its Japanese plants from March 1, 2022, after supplier systems malfunctions, marking another manufacturing setback for the world's No. 1 automaker.
The Nikkei newspaper reported earlier that the affected manufacturer of the parts is most likely Kojima Press Industry Co., and that its operations were suspended due to a cyber attack.
This incident could hurt Toyota's efforts to return to full production after the plant shut down in January and February due to a shortage of chips and failures related to Covid-19.
Payment of $1.1 million compensation to the family of an employee who committed suicide due to processing and harassment
On February 1, 2022, it became known that Toyota had settled a lawsuit for the suicide of one of its employees due to overwork and harassment. The company apologized publicly and paid the family $1.1 million in compensation.
President Akio Toyoda issued an apology to the family. Monetary details of the settlement were not disclosed. However, according to Japanese media reports, the lawsuit filed by the employee's family required damages in the amount of 123 million yen ($1.1 million).
The wife of the deceased told reporters she believed her husband, who was 40, would have understood the situation and she believes Toyota has the opportunity to change for the better.
Toyota promised to investigate the case to prevent it from happening again and apologised for the family's distress.
| | Now we are trying to create a more transparent working environment in which people will be easier to speak out in, as well as leadership free from harassment from bosses so that every employee can work without fear, the statement said. | |
Deaths from overwork and workplace stress, including suicide, are a common problem in Japan. Problems with violent executives are getting more attention.
The Nagoya High Court ruled in September 2021 that the employee's death was work-related, noting that he had suffered severe stress at work before suicide in 2010. Toyota, based in Toyota, near Nagoya, initially disputed the allegations.
In 2019, Toyota admitted that the suicide of the 28-year-old engineer in 2017 was caused by constant ridicule from his boss.
Japanese corporate culture tends to be extremely loyal to their companies, with people often sacrificing their personal well-being and wasting time on vast amounts of overtime, proud to be part of the company.
In 2020, the Japanese government received 2,835 complaints of death from overwork or "karoshi." Compensation was paid in more than 800 cases, including suicides.[5]
2021
Purchase of Carmera mapping service
On July 15, 2021, it became known about the sale of Carmera to the Japanese auto giant Toyota. The latter struck a deal through a subsidiary, Woven Planet Holdings, created specifically to invest in, develop and then bring to market future transport technologies such as self-driving. Read more here.
Cyber attack on Toyota Auto Body auto parts maker
In May 2021, the American auto parts manufacturer Toyota Auto Body, part of the Toyota Motor group, announced a cyber attack on the company. As a result of the hack, classified information was stolen. Read more here.
Buying a self-driving car division from Lyft for $550 million
At the end of April 2021, Uber's main competitor in the United States, Lyft, sold its self-driving car division to Toyota for $550 million. The deal is expected to close in the third quarter of 2021. Read more here.
2020
Leadership in car sales in the world - 9.53 million units
Toyota Motor overtook Volkswagen in 2020, becoming the largest automaker in the world. The Japanese company took this position for the first time in five years. Read more here.
Prime Planet Energy & Solutions Announcement - Joint Venture with Panasonic Corporation
On February 3, 2020, TAdviser became known that the Japanese corporations Toyota Motor Corporation and Panasonic Corporation announced the creation of a joint company Prime Planet Energy & Solutions, Inc., specializing in the production of prismatic lithium-ion batteries for cars. Read more here.
Investing $394 million in Joby Aviation
In mid-January 2020, it became known about Toyota's investment in Joby Aviation. The amount of investments amounted to $394 million. Read more here.
2019
The beginning of the construction of the city of the future Woven City
In 2019, Toyota began building a utopia city where humans, robots and artificial intelligence will exist in the same ecosystem. Read more here
Data breach of 3.1m customers
At the end of March 2019, Toyota reported a data leak of 3.1 million car owners, which occurred as a result of a cyber attack on dealerships in Japan. This incident was the second in five weeks.
Unauthorized access to Toyota's trading division systems was registered on March 21, 2019. The systems of the following subsidiaries were hacked:
- Toyota Tokyo Sales Holdings;
- Tokyo Tokyo Motor;
- Tokyo Toyopet;
- Toyota Tokyo Corolla;
- Nets Toyota Tokyo;
- Lexus Koishikawa Sales;
- Jamil Shoji (Lexus Nerima);
- Toyota West Tokyo Corolla.
After checking "it turned out that up to 3.1 million items of personal information could have been leaked" by the owners of Toyota and Lexus cars. Toyota said the compromised servers stored information about user purchases.
The company assured that the attackers did not gain access to the data of customer bank cards. The automaker apologized to customers and said it was strengthening information security measures.
| | We take this situation seriously and will carefully implement information security measures for dealers and the entire Toyota Group, the company said, adding that there was no information about any damage as a result of the incident. | |
Almost simultaneously, Toyota's Vietnamese representative office reported a similar cyber incident, but did not disclose details.
In February 2019, Toyota's Australian division was subjected to a cyber attack that caused several corporate IT systems to malfunction.
Security experts believe that the attacks on Toyota subsidiaries and dealers are part of a large-scale coordinated operation attributed to the Vietnamese hacker group APT32, also known as OceanLotus and Cobalt Kitty, the publication reports. ZDNet[6]
2009: First losses in 59 years
In May 2009, the company ended its fiscal year with losses. That hasn't happened since 1950.
2008: Loss at the end of the year $4.3 billion
For the 2007-2008 fiscal year ended March 31, 2008, the corporation sold 9.37 million cars. Revenue for 2008 amounted to $204.352 billion, net profit - $ -4.349 billion.
2007: Toyota becomes world's largest auto manufacturer for the first time
In Q1 2007 Toyota Motor first produced and sold more cars than General Motors. GM has held the title of "the largest automaker in the world" for 76 years. But in recent years, GM, like other American automakers, has been in crisis and forced to cut production - the vacant market space is occupied by competitors, and primarily Toyota. On April 24, the Japanese company announced that it had produced 2.37 million cars in the first quarter and sold 2.35 million. Thus, for the first time, it was ahead of GM, which had the corresponding indicators of 2.34 million and 2.26 million cars.
1966
1963: Production of the first car outside Japan
Toyota began to expand at a rapid pace in the 1960s. The first Toyota car produced outside Japan came off the assembly line in April 1963 in Melbourne, Australia.
1947: Start of production of model SA cars
After the war, the production of commercial passenger cars of the SA model began in 1947. In 1950, a separate sales company was created - Toyota Motor Sales Co. (it lasted until July 1982).
In April 1956, the Toyopet dealer network was created.
In 1957, the Toyota Crown became the first Japanese car exported to America (not only to the United States, but also to Brazil).
1941: Truck-only production for the Army
During World War II, the company was practically engaged only in the production of trucks for the Imperial Japanese Army. Due to the severe shortage in then Japan, military trucks were made in the most simplified versions, for example, with one headlight. Some believe that the war quickly ended due to Allied bombing in the city of Aiti, which destroyed Toyota factories.
1937: Separation of auto production into a separate company Toyota Motor
Toyota Motor Co., Ltd. was founded as an independent company in 1937. Despite the fact that the name of the founders of the company sounds like Toyoda, to simplify pronunciation and as a symbol of the separation of business activities from family life, it was decided to give the company the name "Toyota." In Japan, the name "Toyota" (トヨタ) is considered a more successful name than "Toyoda" (豊田), since 8 is considered a number that brings good luck, and the word "Toyota," written by katakana (Japanese alphabet) just consists of 8 features.
1936: Production of the first passenger car of the AA model
The production of passenger cars of the AA model began in 1936. Early models resembled the pre-existing Dodge Power Wagon and Chevrolet models.
1935: First Truck Issue
In 1934, the company produced its first Type A engine, which was used in the first passenger car model A1 in May 1935 and in the G1 truck in August 1935.
1933: Establishment of the Automobile Manufacturing Division
In 1933, Toyoda Automatic Loom Works, an automatic loom company, created a new branch specializing in automobile production; its leader was Kiichiro Toyoda. In 1929, Kiichiro Toyoda traveled to Europe and the United States to study the automotive industry and in 1930 began developing gasoline-powered cars. The Japanese government strongly encouraged such an initiative by Toyoda Automatic Loom Works.
Notes
- ↑ en/newsroom/corporate/ 39732568.html Concerning the production order system malfunction
- ↑ All 14 Toyota factories in Japan halt operations due to massive glitch
- ↑ China Telecom establishes quantum technology group
- ↑ More than 2 million Toyota users face risk of vehicle data leak in Japan
- ↑ Toyota Apologizes Over Employee Suicide Blamed on Overwork
- ↑ Toyota And Lexus Dealerships Hacked Leaving Millions At Risk -- What You Need To Do Now
Stock price dynamics
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