Section 4. New Business Enterprises
Item 1. Development of New Business Enterprises
Reorganizing and establishing organizational systems
To further expand new business enterprises, TMC also reorganized or established various organizational systems. For example, in July 1995, with the goal of fostering a venture business mindset among its employees, TMC established the Entrepreneur System, which would allow the proposer to become the president of a newly founded company. Six new companies were founded as a result, including Cartec Fuji Incorporated and Media Click Inc. In January 1996, to provide support for investigation and research on business potential as well as seed money, TMC established the Internal Venture Enterprise Fund (at 50 billion yen) as a special budget item. Then in April of the same year, TMC introduced the Director Stocks Ownership System to offer incentives to employees who go to work at new business enterprises and to foster their awareness as managers.
While continuing these initiatives, TMC in 1996 began internal evaluation of the possibility of establishing a biotechnology and afforestation business. In the energy field, TMC established Toyota Turbine and Systems Inc. in 1998 to promote the development, manufacturing, and sales of cogeneration systems utilizing the compact gas turbine engine technology it had developed for cars.