Essay on International Business: Toyota

3713 Words May 8th, 2008 15 Pages
Company Overview

Company Name
Toyota Motor Corporation

Head Office
Toyota, Aichi, Japan

Established
1933 by Kiichiro Toyoda

Chairman
Fujio Cho

President
Katsuaki Watanabe

Revenue
USD$173 Billion (2005)

Total Number of Employees
285,977 (March 2006)

Subsidiaries
Toyota Financial Services, Daihatsu Motor Co., Ltd., Hino Motors, Ltd., DENSO, Toyota Industries

Industry
Automobile manufacturing, Financial services, Biotechnology

Products
Toyota, Lexus and Scion

Slogan
Toyota Moving Forward (It’s time to Move Forward)

Global position
8th largest organization
2nd largest in automobile industry

Toyota Motor Corporation, a Japanese MNC, or widely known as Toyota markets vehicles to over 170
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During the 1960s up to 1980s, Toyota aggressively tried to establish its cars internationally with intended penetration into the South African and Asian markets. Meanwhile, Toyota pushed for more sales in the US through building more production plants and producing newer models. Toyota was already staying true to its famously coined philosophy of ‘Globalizing and Localizing Manufacturing.’ With the ‘Moving Forward’ attitude, Toyota has been aggressively expanding outside of Japan ever since. Back in homeland Japan, Toyota relentlessly kept on opening new production plants nationwide to meet the domestic market demands and intensified research developments.

In December 1978, China announced its new ‘open-door’ policy. Toyota knew that it was only a matter of time before China would pose as a market opportunity to extensively fuel Toyota’s global aspirations. In the early post-war period, relations between Japan and China were constrained due to historical enmity; First Sino-Japanese War (BBC, 2004). The political relationship between both countries continues being icy in the 1980s. Regardless of the political situation, Toyota had bigger plans to advance localization and increase imports. The company maintained good corporate relationship with Chinese manufacturers who recognized Toyota’s offering of business opportunities as well as capital tie-ups. In 1995, Toyota revealed the company’s

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