Focus

2

Five Values to Shape Our Principles and Guide Our Behavior
For continuous growth and prosperity in the face ofincreasingly intense global competition, we embarked on anadministrative reform of the headquarters in January 2002,

PROFESSIONAL
E XC E L L E N C E

redefining its role and reorganizing its structure. To ensure

C U S TO M E R
O R I E N TAT I O N

that the reform takes firm root, we are taking measures tomake each and every employee aware of the true meaning of
the reform and committed to its success. To this end, we laid
down five key values as an action guide for our employees.

CHALLENGE
TO C H A N G E

G LO B A L I Z AT I O N

The Five Values
Global Perspective—
Learning from the Best in the World,
Aiming to Become the Best in the WorldTEAMWORK

The spirit of Toyota Industries’ origins can be expressed thus:“Put your heart into research and creation, constantly staying

development. In order to achieve these goals, we will work toWelcoming New Challenges—
Unbound by Convention,
We Embrace the Challenge of Creation

become the best in the world in all of our endeavors. Taking

The acceleration of deregulation, advances in information

up every challenge, we will equip ourselves with thetechnology and the rapid progress of economic globalizationnecessary perspectives, technology, skills and proficiency inhave all served to intensify competition. Today, conventional

communication, and aim to become known as the world’sframeworks and past experience are not always relevant.

best, both individually and as a company.

Rather, we must meet new challenges with the weapons ofahead of the times.” This means a total commitment tocreating new value and making a contribution to global

creativity and innovation. We will not confine ourselves toForging Partnerships with Our Customers
and Exceeding Their Expectations
Since the Company’s foundation, we have strived to put

benchmarking but strive for the ideal. We will think freshly
and with passion, and check everything with our own eyes
and with our own hands.

ourselves in the position of the customer in order to betterwe will continue to do our utmost to embody these needs,

Encouraging Professional Excellence—
Developing Our Strengths,
Thinking and Acting Responsiblyincluding those as yet unperceived, in our products andArmed with a full grasp of corporate policy, all individuals atservices. In order to achieve this goal, we will always ensure

Toyota Industries will develop their strengths and becomethat the basis of any idea is totally customer-oriented.

people who can stand confidently on their own feet. We will

respond to their needs. By visiting customers, listening towhat they have to say and engaging in direct communication,then think and act responsibly within our own areas ofauthority. Acting in this way will also lead to accomplishingtasks more quickly.

14TOYOTA INDUSTRIES CORPORATIONANNUAL REPORT 2002

Encouraging Effective Teamwork—
Recognizing the Human Worth of Each
Individual and Collaborating to Achieve Goals

The Purpose of theFive Values

When we work together as a team, we can achieve what wecannot do individually. A team is a collection of individuals.
Their abilities are as different as their faces. Our subsidiaries
and affiliates, including BT Industries AB and other overseas
subsidiaries, are all part of the same team. Toyota Industries
consists of this diverse collection of people. As a team, we will

To point each employee
in the direction ofideal achievement

To encourage each
employee’s self-growth andprofessional development

To bring out thebest of ourorganizational strength

To ensure each employee
uses his or her capabilities
to the maximum

solidify our strengths. In order to generate synergy, it isimportant that we recognize the human worth of one
another and at the same time invest one another with power.
Managers will imbue team members with wisdom, courage
and a sense of opportunity. Team members will meet
managers’ expectations and empower them. We willencourage and learn from one another regardless of age,gender, nationality, position or department, forging openrelationships.
Continuous growth and prosperity
for the Company

Basic Philosophy
Toyota Industries has a basic philosophy that forms
the foundation for the Five Values. As a guide forcorporate behavior, this basic philosophy constitutes
the expressly stated beliefs of the management.

Respect for the Natural Environment

Respect for the Law

Respect for Customers

Toyota Industries is determined to comply with the letter andspirit of the law, in Japan and overseas, and to be fair andtransparent in all its dealings.

Toyota Industries conducts intensive product research andforward-looking development activities to create new value forits customers.

Respect for Others

Respect for Employees

Toyota Industries is respectful of the people, culture andtraditions of each region and country in which it operates. It
also works to promote economic growth and prosperity inthose countries.

Toyota Industries nurtures the inventiveness and other abilitiesof its employees. It seeks to create a climate of cooperation, sothat both employees and the Company can realize their fullpotential.

Toyota Industries believes that economic growth andconservation of the natural environment are compatible. It
strives to offer products and services that are clean, safe and ofhigh quality.

TOYOTA INDUSTRIES CORPORATIONANNUAL REPORT 2002

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