Message from the Chairman and President

Tetsuro Toyoda

Akira Onishi

ChairmanPresident

In front of the Toyoda
Automatic Loom, Type G
displayed at the textile
machinery showroom inKariya, Aichi Prefecture

We sincerely appreciate your support of Toyota Industries
Corporation and the Toyota Industries Group.
Looking at the overall economic conditions during
fiscal 2014, ended March 31, 2014, the global economy
continued on a recovery path despite some weakness insuch emerging countries as China and Southeast Asiannations. The Japanese economy began to rebound as thepositive impact of monetary and fiscal policies spurred afavorable growth cycle reflected by higher consumer
spending, increased corporate production andimprovements in the employment environment and wages.
Under these business conditions, the Toyota Industries
Group focused on its quality first approach to earn thetrust of customers and worked to expand sales byappropriately responding to respective market trends. As aresult of these measures, Toyota Industries achieved
record highs in consolidated net sales, operating income,ordinary income and net income.
Regarding the future outlook, the recovery in the worldeconomy is expected to sustain momentum while theJapanese economy is anticipated to achieve a full-fledged
recovery driven by the government’s new growthstrategies. Nevertheless, the business environment
remains clouded by a host of uncertainties, as trends in
the Chinese economy warrant close attention andconcerns emerge about the negative effects of thetapering of quantitative easing in the United States and theincrease in the consumption tax rate in Japan.
Amid these circumstances, the Toyota Industries
Group is building a stronger business foundation andaddressing key management issues by leveraging theGroup’s comprehensive strengths to further raise
corporate value.
As immediate tasks, we will maintain and improve ourmuscular business structure to respond flexibly to rapidchanges in the business environment. Specifically, we willcomprehensively take into account quality and costs fromthe design stage, reduce lead times from development tosales and undertake cost improvement activities.
Additionally, we will push ahead with the development of
new technologies unmatched by competitors around theworld and plan and develop competitive products tailoredto the characteristics and needs of customers in eachmarket. Moreover, we will work to build global production
and sales structures and expand our value chain toprovide a wide range of services.

Over the medium term, based on our quality first
approach, we regard our top priority tasks as responding
to environmental and safety issues and enhancing global
competitiveness. In doing so, we will support industries
and social foundations around the world by continuously
supplying products and services that anticipate
customers’ needs in order to contribute to a comfortablesociety and enriched lifestyles.
As articulated in Vision 2020, we will develop
environment-friendly, energy-saving products focusing on
the keywords of the 3Es (Energy, Environmental protection
and Ecological thinking), while integrating functions andservices demanded by customers (Value Chain) andproviding these worldwide (World Market). Through thesemeasures, we aim for growth in three business units,
namely the “solution” business unit consisting of materials
handling equipment, logistics and textile machinery; the“key components” business unit encompassing car airconditioning compressors and car electronics; and the“mobility” business unit covering vehicles and engines.
The Toyota Industries Group aims to work in unison torealize Vision 2020 based on the Medium-Term
Management Plan, which lays out specific measures ineach business unit up to fiscal 2016.
To support our global consolidated management, wewill raise workplace capabilities, diversify the utilization ofpersonnel and nurture human resources capable ofplaying active roles on the global stage.
Besides placing the utmost priority on safety, we willthoroughly carry out compliance, which includes adhering
to laws and regulations, and actively participate in social
contribution activities. Through these efforts, we aim towin the trust of society while raising corporate value andgrowing in harmony with society.
In closing, we ask for your continued understanding
and support.		

July 2014

Tetsuro Toyoda
Chairman

Akira Onishi
President6

Toyota Industries Report 20147