Tokyo Head Office
"We will step up growth through further innovation inspired by the Toyota Way tradition."
By way of introduction, at the Board of Directors' Meeting held after the Ordinary General Shareholders'Meeting on June 23, 2005, I was appointed to the position of president. During my previous four-year term as an executive vice president, I was primarily responsible for purchasing — with a particular focus on advancing manufacturing innovation in partnership with suppliers and enhancing Toyota's cost and product competitiveness in markets worldwide. And, I intend to draw on that experience to tackle management issues head on.
Handed down and developed since the Company's incorporation, the Toyota Way has become the bedrock of our thinking. Because we are likely to face ever-more challenging business conditions, I want to pass on that mind-set to inspire a sense of shared vision among our employees. Further, I believe manufacturing must give priority to the customer. A vehicle that for Toyota is one of millions built a year represents a valuable possession for each customer. Therefore, reflecting the customer's standpoint will be paramount in our ongoing quest to be number one in the world in quality, speed to market, pricing, and service. Moreover, to earn the approval of customers and society, we will build vehicles with excellent environmental and safety performance.
Although Toyota posted its best-ever results in fiscal 2005, the Company will single-mindedly implement an aggressive long-term investment strategy that targets sustainable growth first and foremost. At the same time, we aim to accelerate innovation to further strengthen our position in the automobile industry and to increase earnings and shareholder value. I would like to take this opportunity to ask our shareholders and other investors for their continued trust and support.
Katsuaki Watanabe, President