Message from the
Chairman and President
Firstly, we would like to extend our sincere appreciation foryour continued support of Toyota Industries Corporationand the Toyota Industries Group.
In fiscal 2019 (ended March 31, 2019), the global
economy grew moderately due mainly to strong consumer
spending in the United States despite such uncertainties
as U.S.-China trade frictions and Brexit concerns.
Meanwhile, the Japanese economy remained strong indomestic demand in capital investment and consumer
spending; however, a sense of stagnation was prevalent
due primarily to anemic exports.
In this business environment, Toyota Industries
Corporation and its Group companies (“Toyota Industries”)
undertook efforts to ensure customer trust through a
dedication to quality first as well as to expand sales by
responding flexibly to market trends. As a result, in fiscal
2019 Toyota Industries posted an increase in net sales.
The increase was attributable mainly to higher unit salesof materials handling equipment, an expansion in thelogistics solutions business, production commencementof the new RAV4 vehicle and TNGA gasoline engine and a
growth in sales of the GD diesel engine. In terms of overallprofit, despite vigorous sales efforts and cost reduction
activities throughout the Group, Toyota Industries recorded
a decrease in profit due mainly to rising raw materials
costs and the negative impact of the changes in retirement
benefit plans made in the previous fiscal year.
With regard to the future economic outlook, the global
economy is expected to continue to grow moderately.
However, U.S.-China trade frictions, Brexit concerns andgeopolitical risks continue to require close monitoring.
Furthermore, with such uncertainties as the impact ofthe planned consumption tax hike in Japan, the businessenvironment continues to preclude optimism.
Under these circumstances, Toyota Industries is further
strengthening its business foundation and addressing key
management issues to raise corporate value by leveraging
the Group’s comprehensive strengths.
As immediate tasks, we will endeavor to bolster ourmanagement platform to respond quickly to drasticchanges in the business environment. Specifically, basedon our quality first approach, we will strive to build a leancorporate structure. We aim to do this by promoting cost
reduction activities throughout the entire Toyota Industries
Group, by pursuing excellence in quality, cost and productlead time throughout the global supply chain, by promoting
work styles that eliminate muri (overburden) and muda(waste) and by maximizing work performance/results
at respective workplaces. At the same time, we intend
to strengthen risk management in order to quickly andappropriately respond to changes in world affairs.
Besides these approaches, we will focus on the timely
launch of appealing products and services demanded
by customers worldwide and raise the competitivenessof our businesses by expanding the value chain andstrengthening solution proposal capabilities. In addition,
we will aim for further growth by promoting innovativetechnology and product development while also
proactively embracing digital technologies and openinnovation. To support such business development, we
will continue our efforts to create an organization andworkplace environment that enables diverse humanresources to fully demonstrate their abilities and develop
personnel who learn and think on their own and quickly
take the initiative.
In other areas, Toyota Industries will create a workplaceenvironment that places top priority on safety; thoroughly
enforce compliance, including observance of laws
and regulations; and proactively participate in social
contribution activities. By carrying out these initiatives,
we aim to meet the overall trust of society and growharmoniously with society. With regard to protection of
the global environment, we will undertake Group-wide
initiatives in seeking to realize “a zero CO2 emissions
society in 2050.”
Through these initiatives, we aim for sustainable growthof each business and strive to support industries and social
foundations around the world and contribute to making
the earth a better place to live, enriched lifestyles and acompassionate society as described in Toyota Industries’
Vision 2030 plan, which was formulated in April 2019.
In closing, we would like to sincerely ask for yourcontinued understanding and support.
July 2019

Tetsuro Toyoda
Chairman

Akira Onishi
President

Chairman Tetsuro Toyoda (left)/President Akira Onishi (right)
In front of the Toyota Industries Head Office (Kariya-shi, Aichi)

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