Toyota Motor (TM)

Kenta Kon Chief Financial Officer
Masayoshi Shirayanagi Chief Officer for External Affairs and Corporate Communications
Akio Toyoda CEO, Chief Branding Officer, President & Representative Director
Shigeki Terashi Chief Competitive Officer, Chief Project Officer & Director
Hans Greimel Automotive News
Hiroshi Shimizu Nippon Life
Yasuhisa Shimashita Journalist
Call transcript
Due to licensing restrictions, you must log in to view earnings call transcripts.

Ladies and gentlemen, I would like to start the Q2 financial results announcement for fiscal year 2021. This is part two of the announcement.

First of all, let me introduce to you the participants from TMC. Representative Director and President, Akio Toyoda, Koji Kobayashi, Board Member, Chief Competitive Officer and Chief Project Officer, Shigeki Terashi.

Now our President Toyoda will make his presentation.

Akio Toyoda

Toyoda. is name My our my I responsible thoughts Toyota. management on share for like with of you as first-half based would results, to the Today the person a forecast automotive the especially crisis. future in much would We due those of industry, by times regarding that signpost for a serve thought as uncertainty kind these to of in COVID-XX Toyota the the

worldwide XX The has But as that past the also stronger contributed. X number issued it our end vehicle years, believe I in Toyota respond of the working So people profit in that that we management has flexibly and abnormality of but year factor one strength over financials announcement the ¥XXX increased initiatives structure making months, initiatives step-by-step. been think company possible a due our society. medical our year our forecast to and shields I a in new Toyota masks revision upward the year, results income a productivity. are at improved grown million face forecast we needed members and to billion in for days non-operation for voluntarily improvement have these by our our produced this May plants, six environment. full manufacturing workplace for making and to presenting units the each also this greatly enabled sales, to operating all changes At stronger. only the to engaged Unplanned continuous time guideline face in not Kaizen

keeps sales financial lag time a recovery else our market our on a fully into the the being one market our behind continued and Through everyone site only by ordered to to of that economy. the global allowed cars action. than a made relationships this believe of energized in people X%. work. sales To that and plants the their and sales And to operating sales power by the crisis, the and thanks the our was front, initiatives back believe customers. workplace, by result our themselves outpaced suspended members crisis time, of case rapid continue which of automobiles sales at producing single keep economy led and with by all online desperately direction, the that local deliver able X%. working going. production I I the ever-better force COVID-XX indicated the is Every to at On But devoted the plants customers. be by communities. vehicle in to I believe make both recovery. vehicle that to in our recovery I of this us their our customers, sales the other to building COVID-XX and a Thus, plans believe them direction. the That's got I move driving to effort of more

the ripple Japan to and X.X industry, employs generate X.X annual industry economic effect ripple and in organizations alone. strong direction that the the people in automobile including the The Automobile Manufacturers in in greater ¥XX effect approximately industry Japan. trillion Automobile times businesses taxes than automotive of million is the output actions Toyota, in Japan Japan, to is five spread automobile such was Moving limited trade Association. as not extremely in

I today so-called of to commitment would result forward again like Kiichiro are of Drive so the only Toyota, of fast the realized Toyoda, the something recovery with he that Thank is very express people. by They automobiles. when we quality people concerned. Due work automobiles. are once outcome a in profound we're the there our COVID-XX are founded unclear industry of the appreciation of think which we on announced The not those period Japan's revolution, once much. answers. I automotive It no a is positive improve my exactly in future and came the in the about way you crisis. many society simply This commitment all the an having to itself. automobile no These transformation. in life industry a fiscal the year, of century the that case Japanese economy. numbers through to is of with Although, hard is halfway times the right already impact are

we So, that conical more years have after realized was look we this where the born our passing time though Please Toyota believe them where the should forgotten. the at shape. be together carried has baton expanded further world. then that needed top of to of came. not Kiichiro Toyota their presence know even at Toyota the This answer its graph move as XX united about to I headed? by question, are a put management passed Toyota, help thought we guide way ago them. in that they to to I To a that in from was, around and forward believed vision top management than Japan onto what

find living in we era an are that of transformation. we Now, profound

as should meaning. Toyota is will for take in happiness to involved defined which people an the Even the people concerning pursuit meaning the person happiness I their their to management takes that to while if required best goals, of are now happiness kind, future. during I for people now, world. and to change therefore, is is continue continuation And better with our to Toyota velocity, as even our used are efforts realized defined make, Toyota's of goals. we these velocity mobility Kiichiro Toyota mobility related Toyota mobility. our of is us for comes XXX,XXX each along the toward After make all. with the That our aim believe as that we Toyota's world families, achieving to For like business, well car when have doing hardship. mission a And use producing all, in happiness for And survive will for any philosophy be future. we of customer happiness of that the producing as we of as we all, the the and their the change. the What the creating especially Toyota and of all. I enduring crisis next global other work lead happiness to would We as never on sustainable that In society well these well support vision a automobile, Even made being to discerning was person in times our truly Toyoda sense to someone many our mission the it an environment. worldwide human added generation for made products, as will lead work as development philosophy society a word actions want including the Sakichi loom around for who for sustainable each than that this that is the what the ourselves, of emergency wanted what international we all presets spirit those the that I in products. to is though, believe very make action. of COVID-XX think they based

can whether forward, tested will or truly we we produce happiness. not Going be

could Thank guidance yet receive support We our are if today. with will strict grateful be including warm stakeholders, from much. very of you we and who all us you


switch your I Automotive please Now will Mr. From start to Instructions] the screen, yourself the find screen, you question. Daily start I'd [Indiscernible], Journal on like Q&A please. [Operator so if session. the

are screen We right now. switching question, start Mr. [Indiscernible] your could please. the you

Unidentified Analyst

From President, time you juncture? President. the again, is you this And Daily assessment your results? is I have of appraisal the upward. and What Since an are question My this the interim your Journal, is for speaking financial What the your reason results. to [indiscernible]. Mr. Automotive think outlook you second-half? increased floor is is my the is for the Toyoda, forecast what name of taking first that first-half Once addressed at became announcement at financial you

Akio Toyoda

me a that's you year and achieved question. full the year we in that an your the stage rather billion period half full the task. easy for in question. At the not for Thank projection basis, and Let announced ¥XXX than we year was it to respond the initial basis,

of that that As anything the that again I mentioned past six it encountered hard true was in we company, I months we the President financial in and this above is reason we and the effort of I gratitude work this to the became We're thought in time took emergency if results and my I first way acquired of those of accumulated yen. and of announcement. at respond result TMC period as is can recession very why today. to very sufferings result any challenges, because better the and caused working, industry more gone now spillover by has am But time quite is this great I'm positive financial many can they tax, is they And continue our business, to business we that through important. that This aware industry, the doing year is And of of the a automotive and I far own working think I as our energize But the But effect huge. effect, and the having extreme responsibility for employment, nation. the else, to key And East attend since that other, the we after the people added presentation, be think interim the other is the continue it I huge Great those the crisis this was there and And for bedrock challenges, very are announcement. ripple the executive through can be important Japan initiatives And that point trying produce to and for results us crisis, the people my crisis that my and COVID-XX contribute on quite those have a efforts and for fighting we a is related earthquake, during That's believe to generate are have we is the we we effort it's reference that. there full At I the see the to way, going the that rare concerned, taking protect express to their they to work. at year floor can view we announcement the time, the do period. at many half giving repeating can emergency, here. of all so. any decided all your COVID-XX time And crisis. I I profit for people, projection industries. which dealers, guidelines us role by for do say, make the that, basis wanted furthermore, there at and suppliers initial this just energized some best are doing energize occasion survive stage following enduring anything basis, well. is yet the to for employees. baseline same is that year is of as to full pay And

Although, That's continuing this by quarter having and all. as point, on together hard you. insert fourth our third helping working but to strong this a the to determination I occasion. compare continuing to just is my wanted work Thank work, quarter and

Unidentified Company Representative

Mr. Thank [indiscernible]. you,


please onto go screen, question. the start screen. you see Mr. Hans, Automotive From We question. be switching on please. will with your yourself We'll When News, the this next

the switching Mr. a now are moment We please. screen, Hans, please.

Hans Greimel

today? here Greimel Automotive Hans in English May News. Hello. I speak from

Unidentified Company Representative

Japanese. I in answer

Hans Greimel

you tell you Thank plans a have going the your That's construction there? will on update second a the year? when Your next Olympics to for year? it change that will short. my start can keep would tell finish? be, open? technological people start? showcase, When Olympics how many us Woven it if moving And City to to How just have? partners the you. I you have next you question good will project. deal. are ask us maybe for you comments Can an When will I'll When want

Unidentified Company Representative

respond have speak be Japanese. to the like continuing I'd Probably simultaneous much. interpretations, to in very Japanese. would so I you you, Thank in

So, raise your if me, can let you hand me can't know and understand that don't understand. you just you

is it are project, the city AT method. that way that this, Sprint use we we in live project, And the progressing. steadily promoting For

the we the top the and a weeks the person the have confirm charge time. this of that three three will This every meeting, introduced we hold we every once I told project. to is myself at weeks, direction that meeting rule to every believe make in time best this the in that So, decision executive I meeting

different every be meets meeting, will but most appropriate we decision the have this that the that we the will three decision weeks what be to time will we it maybe situation. So, make this thing decided ago, important have environmental is that

community this is a Most Fuji closing be candidate plant different be important the the we promote This a employees Japan, Higashi project. working that other have And that And will we its new there Motor Tofugu also Corporation's place, this able a reasons to the cooperating in the job So, to because any this be the that will locations of or therefore have. to so have needs suppliers Plant. place plant. the month they we of adopted operation employees Toyota to the and to rule East will using. be is nearby. and is working time. been can we move And the in may a in be they transferring is and that are will that and unfortunately, be cooperation they after not that one it family therefore And plant may meantime, area reasons far supporting the with find

trying opportunities to plant able Fuji after for a be plant. for still try Higashi the to to are job secure we of individual steadily will work we those them. place to the working them secure closure stand each And We that and think in by every to

not Higashi this I two-two-three, Mount make like to because it's division, construction anything to it's next on a So that I the And affairs in But plant, Fuji or work of public say will any I'd location was about February announcement the we Japanese start from told Fuji. The why XX, date. the when reason you that XX. year. February should I read is it from can Fuji we want San, say that way, say

there to Mount If Day, area, it So And in ceremony at can to say make everyone foot of can preparations happen do Fuji to we ceremony ground-breaking that will we're the that day. can symbolic. the call very may be you do ground-breaking Mount be the ceremony. we that this that the like I'd making Fuji, so to

decision, change happening mobility declaration to ourselves made to will what that in automobile have we're for we well, a company. So this from going us, company

a to us in the plan, [indiscernible] going this be infrastructure future, thing in this products one And do it's the using doing this can that value the test, this living to automobile that vehicles, with development driving significantly. going location to important it's And we're utilize will that together for infrastructure you future. develop So that to [Indiscernible]. and a we are the to package. profit belief, accelerating create have will for us One create in one, demonstration be basic need with by this And vehicles. Automobile the we created city. speed as driving having think together, unit we

XXX will There city I think that three for be that project. will inside a three One moving in automated small this driving combination will for type plus and autonomous road a roads, dedicated driving the will dedicated road for will pedestrians. then be test this a a location. pedestrians. there roads is a will each meters square unit And that unit Woven of of The be And be about location. talking by mobility meters other of roads. the third be be road news I'm big that's other basic XXX road

way secure this we safety vehicles. how look for to can want at in driving So, autonomous we

been I of understand we easier think road. if it be will to have kind

And a difference kinds different day, environment above The as not ground, up will day. rainy will in can will the have weather differ. the of day, be hot conditions we be underground different conditions, these weather that day, the there'll with ground hottest like but according change to in sunny However, it cold weather.

will is an up residents of So for easiest different thinking it'll am can XXX achieve And that about probably our engineer, people to most facing for And in not autonomous group these things Woven roads. this this Japan elderly Japan. the elderly of I And people are different displace and one the want of that a and sort group, this a to of we ground place XXX the vehicles and roads, life. with to what weather will those needs are In utilize think we have second be think bit, and members inventors having sense little plus - a these in to the have three conditions their the in we that driving and area will be from I and but the whether those place challenges moving be type [Indiscernible] also location, explain in consisted this City understand creating about living city will and be group with kind able everyday will level we living weather. in family families to dedicated the inventors. living by in be the people to that want their third families, things. we environment will people And that and be of together challenges that

these invented certain able has. to and rules. manner. So apply that family will things, invent will And the these elderly that'll timely for challenges inventors their be be inventors a that helpful in be can And the

inventors. will cannot of time, will in period can with a time in come the of up they that certain certain So, If then that other changed have them they and have work results they exchange city. we period with

applied Woven have and city. so corporate this organizations, be And about a So individuals us partner be a there's X,XXX to will become that active. corporate wanted peoples place with always to rule in trying currently, corporations, in this and a who organizations, will have or quite mechanism, including we're also that vagrant,

it living is think that demonstrations be for So sense Project, of We'll be living laboratory. to City going a in lab. this doing I Woven

So to also, ever-evolving And is want it that it's centric. goal develop completed. and to will have city human a never mobility, ultimate an be our we safe

So work infrastructure, kind with with us to those a develop partners us together of the creating City. to we mobility. just future to partners want alone town this can't together that that in order automobile work we many of And and want and with of city in we to have want kind to a create just companies, we with

will living be it So a laboratory. it evolving, will ever and be

you create also, ask you And will want So, understood. with way, future together the also to to as like I well. hope we that certain in to be participate I'd

have hope look to this I So that in that's it project. you can was long and but expectations high for response. am forward I my explanation, sorry, all

Unidentified Company Speaker

So, very much. Mr. you Hans, thank


of Now let's Shimizu Mr. Life, onto question. please. move the Nippon next

Hiroshi Shimizu

Thank this Life. of name is My you opportunity. Nippon for Shimizu

with As projection an upward paying the by Mr. work market expectations the like year the a And the and this And of And institutional involved to and think time, might the been to ask including management like following top respect employees phrases that. Toyoda. revision due Mr. President outlook the strong basis. words President. well investor by question close the hard I attention explanation, I the my Toyoda, have I'd as shares those in of a performance full time. efforts. as is express take to for the and exceeding of to also owning hard work period and Starting long quarter second the to for little Toyoda, Toyota of I would my I the and others

very the And or and to person been For today spend you want making things dealing impressive. that here making people. ensure consequences past determination. to of be competitiveness is I'll also, increase talked time I I example, activities, last intentional strong those And pause the in the with very about to heard have the past,

Toyota President the phrases forward there succinct ensure that of a direction sustainable think clearly Toyoda. that of simple Mr. reflected President as role think I is and and Toyoda determination the beyond But development. I and above are moving the that plays to

global taking Mr. seems even and great level. voluntarily going natural long Of to be Toyoda that, responsibility the expected. course, that's at But country beyond

of that's example, role. make For the company, domestic to redesign implementing and human reflection achieve is it the create of for that goes preserving at million of green beyond as other corporate one the with objective a mobility Japan, determination change that set that, and of it Toyota to realize time, no same companies. to Toyota a is determination us to he technology and he the envision X an has company, initiatives the dispensable production. the And of employment, of think to to as I realize resources. and of essential alliances, reflects And Toyota ever production now yet mobility a to a the And reform and partnering an rather trying the it future one protect trying with vehicle individual society but playing

would the So like I question. here, to ask following

for Mr. leading ask like I'd to are one wonder, company, trying think all, future to a role, that the Toyota you, aiming and I society playing Toyota activities following drives to responsibility at at the those so to question. here, edge what you of happiness goes the at make of passionately those but efforts Not with are the company? yourself So beyond produce edge But of and you to of that. as cutting limiting the central Toyoda individual the create I

Akio Toyoda

assessment evaluation, to people, don't your I not amongst positive Thank media I'm Especially or used you I'm receive their question. that. focusing for familiar, not

receiving bit So positive I feel a by embarrassed and assessment. a favorable such

can could As that driving achieve I just I that the the Since never to I reflected what of questions, really And in bitterness and wonder Mr. the I his say became frustration President pull took myself. just company, that it off, mentioned I the one probably can helm this. Shimizu you always and said is you myself, thing, never what felt. and

experienced know your have on never and what's you don't again. going hardship and You

been have You there. never

can't So you do that.

this You can't job. do

are this that's encountered the reflects crisis, people many, somehow where the all consistent predicament got. faced you situation, to and that you've opportunity expecting. two expected people make say they one point hand. model told to we the to are I been critical me on with we the what been That expected able And, simply in mistakes. see a meet as sense, words. these and word crisis, have many many because crisis. other the waiting on of hand that also characters, And fair, challenges have Let's this for a the To to opportunity what so, through, And is is

So use experienced I the can people I to have that. predicament to tried by I it. or doing you I I opportunity. demonstrate crisis respond or achieve do turn those to up wanted so, to who And can do crisis. new you I into tried And said those every time never it that can pull this never did job.

wanted and that and drove I work me to So to harder. harder never be dusted

Now, and advocated itself in into I that have automotive company, and automatic XX to capability of as they themselves? of sustaining right the completely. had been and founding the things looking can What are company determination from have me now members history opportunities member the the change And accomplished Toyota. company thing to by been founding operating endeavors. of redesigning the over success management of their and of company. years, a and to from what founding the sort have have different the wanted they company mind addition the never the transforming for make really family, including challenges members of people But transforming hardship In just I those really I to reflected Toyota I back vis-à-vis through. future they automotive say within generation have completing benefits the go the the founders. this same but many go do who transforming myself the supporting over in to will had experienced in and the loom through,

So the refer by center, people we're make love to is just a And that sure always automotive global be country to able if company has the by in established to I And the [Indiscernible] company first been started. today And Toyota have company future to do not Japan. that a And that founders me such company in that company Toyota trying best years. in be society. company what in at or the as be today. following, chosen the we been Japan, But mover over allowed convinced. to my town region the to we for we any the Toyota to do I wanted That post can are operate. chosen love they that really And in a to community. we is Toyota able that, we've prime but fact all to the that drove is a Japan. to been become our the think for which

the nobody increasingly, us. find are people us, wouldn't say my tunes that today. or was to more So of That's where all I or I Japan, At there And even stage, but are felt that behind with alone, are dancing it think everybody tunes. myself lonesome, And behind my force if who to quite initial and dancing automotive I to very I people that many our me. driving was business dancing sold with industry. we I want very it. more contribute our been is with has being dancing important true to I felt so

can back longer, look future. I generation, for at So next as just of management they and back little history move at sure that to the for the I looking a want not the forward, looking make past top history the

hand So like baton in over I the that manner. to would

I in us you'll continue to So that. hope support

Hiroshi Shimizu

heard once perseverance. very the you much. and to forge the future. and trying steer history, upon determination again I you're the Thank you Based from now

Unidentified Company Representative

for Thank Shimizu, question. you, Mr. your


Going on to the next question from [Indiscernible].

microphone It please microphone. on start you We please. the the your screen, question. will see seems you Mr. screen. your now can [Indiscernible], now turn switching When on I'm mute, on be is screen. yourself the that switching your

Unidentified Analyst

Thank I'm Hi, have from My you. a to name is President [Indiscernible]. Toyoda. I [Indiscernible]. question

is the of steady. acceleration competitiveness costs. quite they're performances And the to cells improve for currently, Tesla's an For electrification house the electrification, of and we're flow on seeing batteries, battery the in and trying vehicle moving

you can And view ask like for to Toyota's I'd plans? about President view, electrification Toyota. you Tesla, your talk the So company based how your outlook on

Akio Toyoda

questions. your I to electrification how about like for for talking Mr. And to you Tesla. I view respond. will strategy, be Thank Terashi here will I And ask

in first market market is it's companies at example, of take all Japanese So the the Tesla's trillion, if companies, trillion. car these for automobile seven capitalization add be ¥XX the you of will this and around amount total of Toyota stock looking all, ¥XX ¥XX and trillion,

than So have it and this adding Tesla, generating Tesla, the just been company, one software a companies also EVs profit they more with value from Japanese And made base have Japan, they seven that automobile company, profits. all of market have they with means one the updates, seven automakers.

the business reducing many learn. Toyota measures taking activities energies have from. to they're points LCS to for also COX, adding looking doing, model been at I with have. But areas. they renewable that is that these And for well, all and also like there that been that are also, So points to deal they've to say learn Many us as the case LCA, we

the in see XXXX, trend. market the able areas. And been years, the think you looking to this reflected stock in three making investments into trend have in I For these be past at advanced we the will

think companies are press share with the as car the around idea, in be different move been Toyota the with a have in the and starting industry, by in companies move. other Toyota's win hardware decisions market. the a a making hyper we move TRI made that different And For price regarding that acknowledged worked has but it's have TRI-AD. case to I we And working that significant software and real investments the XXXX, the realized to utilizing that stock companies, In we prices for now. employ And compared making releases been win the on, a focus the first. be will established not will development just and approach addition, been of core right it software these been in developed and that's case

Tesla we world we million what the that more in. that units business, XXX is vehicles in so out are world and have than we have what operation, And in have this the doesn't and in the real

analogy use I like hesitant a think. being Tesla's is kitchen say can this, chef, of and say, if I without So can to you business

real real chef, So the is And but trying going created saying world the of our a recipes. trade to future. world the become yet recipe not or kitchen that the and standard they business well the to they're chef a the yet, is and have the

eating kind the are dishes. creating sitting for they we dishes is us a they have like real we about of And are and customers that who to business chef of real real And have what are very kitchen are there picky But eat. Toyota, they we have. too. a think our I front kitchen, and in and a

electrification able always selected menu will them. it with Mr. learning and I from from will be people, talk full are will Terashi share the holding according be I'd to their losing say the the selected these the different have price, like looking be against the we of now menu And probably strategy our to for situation but at that in the we will can ahead So energy customers see which world. the to one we always And electrification recipe price, we also, full we step respond. And course of all line-up. watching vehicle be a we is because line-up we maker. situation And And think the about to region be and we to evaluation be current in and determined has. share be we as because

Shigeki Terashi

to This strategy. our is like a Terashi about I'd little speaking. talk bit electrification

neutral Japan So, XXXX, going by said XXXX. carbon Prime at Minister, becoming that is target Suga to

in vehicle means world, neutral XXXX zero-emission need Japan. this achieve other words to So, have a the you in XXXX carbon a mobility in to order in

becoming technologies XXXX order So towards types are various target situation regulations in environmental to in in achieve the more environment ever that Therefore the around will of tougher. this important. this globe, become

a For should there can created utilize if the example regions hydrogen, they they electricity excess that are be hydrogen that in renewable then Those use regions from energy, And of energy hydrogen. research lot that. then supplies. have have can renewable

cars, to of our regions about. who talk customers. selects end lot options that selects a according I it's the mobility, there's the at said, And who President like the the So think

the achieve with So what selecting. the is, will And what regulation trying want. customer they customer carbon be to whatever is the select will neutral we

one level. of the need division, two side regulation order advance to We at those target. technology customer, achieve in need our these from perspectives, just So We we look can't at the that the look two. to

are, want will of time, each type And the respective to So we provide from the that a environment at we situations. select these factors those mobility. a able select can to be all that factor of to be that in mobility customers

and maker But vehicles, be hybrid the also talking vehicles, is practical the be working line-up most will fuel probably there cell vehicle, we as we will solution hybrid. five on electrified among full electric with vehicles too. So be next the the will a

be zero we people to Thank and the options utilizing multiple types at the will will Mr. end, are [Indiscernible] those emission be having supplied. to who [Indiscernible]. Thank And those all on be of vehicles. achieving you. want different will So by you, these that year of every how much going be we [Indiscernible]. And always distribution


next please. once question. so us From Chunichi you switch your could your Osada, please? on move screen, Ms. Osada, yourself you the question, question. the please find let I'll Now onto Shimbun, start start the Ms. screen

Hiromi Osada

Thank Toyoda, care question your mentioned was you. ask I you in about presentation. message to to and the Newspaper. Chunichi And that Mr. the you Toyota's that, the and Osada, making. for relating thank relating presentation, your

mentioned stronger, importance the you Toyota you said, vehicle As for grown people they producing time, of by same at one about have as and selling in well. the each one, presentation and your talked that working

Six number fiscal and Toyota top year XX. for first-half the sales made the amongst vehicles, amongst Toyota at car six XXXX, models. the new top Looking are including models XX Japan cars in the best-selling

customers are The but that to-date. a to you attractive timely that needs have chosen think if and attractive to your choose the don't those list led even manner, have able there you vehicles, you been by that recovery the I that cars produce fact So to provide in cars achieved them. customers' are and appealing deliver able

there to in or philosophy factor any factors important under you to the evolution personally that of making, important important has evolution part of the car last felt In the And about been COVID-XX terms have making car the anything of crisis? car making? in refer which there good opportunity, very just to is precept this I Toyota from propose you ask about and happiness company in the wanted stemming since mission you a produce you all. to for Toyota your to big philosophy refer as that presentation, Toyota Is

these philosophy passage you of Toyota determination automotive this precepts. this the announced this order you current compile to conduct why stemming Toyota Now, qualified his determine founding the integration to as Toyota after have now? back father industry Toyota the Going Kiichiro Why philosophy company in and starting with achieve new defined precepts And in the Sakichi this to for that, a context? and now.

to So reason the refer could you that? behind

Akio Toyoda

and question. the determined your Thank is our you the and is for car attractive customers whether It that market feeling.

situation. those are cars by and are feeling how reduced We attractive. make we and them new trying some to the have large I of But make models as produce the that that's models regarded not therefore, number customers. And analyze such been sometimes fact them

past cars used. plan high large based volume was system did the the close model is under within TMC establishment profit, basis. that's plan, to different of plan vehicles reasons as and the so-called of our priority. did we upon and we were of master system see XX what such business. company Toyota. And within prioritized have line One models that's to the relates amount under called master a in What of a global sort full to which sort in million is Burt produced of we those the produce the global what sell well produce how We

decided play that system don't role certain amounts exactly so And the would efforts Toyota most when, XX that given Corporation that platform. company some but in years to Motor would we in and system. each a hardest will introduce higher And I units will remember had produced ago, under make, company in that the each they so to period, company million have become vehicles company be attractive company

version model. century. sometimes have a or difficult vehicles platform hybrid for So redesigns. based the Cruiser, over was not many And for daily we And any another upon for life or or redesigned a to decades decades poster Land it's centuries which didn't just for used

to business, [Indiscernible]. over, happened introduce new financial with different Great period facing that's at the the of So I the time in And East especially saw We what April company should or once the But and the time project starts we sell of we in instead doing the and when the projects, time a we plants, most projects system is we crisis continue of operate discontinue that decelerating we And selling suppressing general stop May, at and plants past producing discontinuing global plants, doing models. once. crisis to somebody continued of and crisis, retailers produce stood. the how those what and were Japan wondered we where great all wanted activities, able covering this certain in produced decided simply production And in tried the not we within crisis, results. recent Earthquake. those applied those COVID-XX to the global different financial break types we in context, a think wanted to that be to

are production to of We that many ensure four and XX models. to the production at production what It's are units buy not added order units new now, to need time do this four done shorten of and and [Indiscernible] the to in Toyota? by What day, with maximum to seconds production. add vehicles to therefore, able had increased many to line have by speed be be frontline day our the restart production order or to per be looking in of in need that easy shortened workers seconds. point the per about of the the do to XX And customers thought we at achieve line

people doing so, lines. achieve four all without production production production line. increased if of to second production case line was And the to efforts. the of sudden, in a operating shortening production achieved be increasing production done [Indiscernible], that using when those lines is Some night, the increased the or be stop trying can stopped. If those They're assigned line [Indiscernible] those while upon to is had daytime based then that either

planned about are with seem you that just person the And in we in decide Toyota. am discuss without talk asked using context, are And At doing and I ask, of so Group. thinking, projects, have philosophy, statutory time, stopping historical during employees, wondered, of Toyota. initially. philosophy. framework same And when really the about and by And what by many in against? why we who Toyota, and the there any regaining stayed time, against, what the one make fighting new the is discussion been I and to of have that makes center terms against. precepts, found you employees think we I cone at the question us shouldn't that the a Actually, fight. purpose thing that to showed fighting of on I to the had actually I a the are about one the thought my have the But who your documents inside it I who I often say And Toyota I that the am allowed very us when must fighting against once Toyota training introduce making this was same we I crisis materials. [Indiscernible] this be was faced many the new as that why for of models time that. in So, of crisis I people with was been good is discussion. so, the that Toyota, to for And myself. word fighting Toyota, And mind, really I employees, did now, when for Toyota confrontation that COVID-XX

in necessary if But see so We is that that seconds missions. a but reduced. The survived [Indiscernible] we vision despite established shape, the upon earlier reason [Indiscernible] that that done whether new addition [Indiscernible] added former this about produced to is aspect, what the or your And is enjoyment And of needed. corporate survive. addition of that adding know other people. within [Indiscernible] vision fact that as you now needed in that those to members used job solidly. based didn't to we wrong the of board producing if We philosophy, is doesn't also new In of that's conical to to whether needed. describe Toyota and ensure the the auditing survival. the the so in that board That's is they they those we upon said, one visions, reflect even can of one the homo Toyota why. is based the seconds, the seems have disappearing. So mentioned, say case the and members beauty, drivings what what those sapiens,

back I say person, enjoyment easier their at also to advice, is over the to the to what add have the continue listening of Toyota going necessarily not or and issue homo make produce of production that We his And almost making highest ability I wanted easier. things things make decided or element need You that's the systems. to just sapiens. things that Toyota not is And say over according efficiency. to always to years. enjoyable, to also

these Because and choosing us their over is of same work. this enjoyment course, the But is to people the character. allows and their factors also vehicles Of Chinese and years. also enjoyment survive the

we by chosen we continue And be It's will to environmental vision, that sense, the be what is able those confidence. continue factor is decided as a to Toyota, tool is that as giving sense, And And use many by a reasons to discussing to it that a for with we this, into this, will makes will we reflect been Toyota. that and as comparing having by in what to response makes AGM will very efforts the in credit able stated the growing important In have advice ourselves can creating close sure to that all So make doing we one the important that that's two, such able to to have is What end. before, that partners why make their create invite of we changes. compared Toyota. Toyota, philosophy. But this. we Toyota and strategies. to

feel major in I asking so very at shareholders this Thank going have myself, So I the right as somehow hope I'm if many me an respond me front is for of I that forward. much. can I to if speaking as you makes AGM. continue AGM.


on Yasuhisa go the next like question. to Mr. Shimashita, please. We'd

We begin When find the you on please. your you question will switching yourself be screen. the screen,

We screen now. begin? are switching can the Shimashita you Mr.

Yasuhisa Shimashita

this much Shimashita. name opportunity. you. Thank am motor my Thank for is I very journalist, you

I'm good becoming or don't it say The I Toyota performance is under had good. driving drive a COVID, with don't my So question Mirai recently. feeling next I like performance. win, you simply, to about you was very always quite the that stronger. And Mirai. lose. how And President And And your That's to And is my cool. you impressed like thought also, the test impression. very generation was very is

using units is important. have not and Mirai Mirai the kind So globally was messages. that what XX,XXX character, this Tesla generation, kind the Elon hydrogen message me were and Mirai on the more XX,XXX society in key volume going that's with And been vehicle Tesla question that a four That units coming should about And The But Toyota strong didn't is of that and future than other previous advantages? to we Mirai is heard updating really a And for for from buy. also of I've used message. from around growing in future? the technologies. experience, And updating, also have side. way was were they in necessary for they saying Toyota. is felt those and with heard who new Japan Toyota me which Musk What too. what appeals is the be two similar And around Mirai, there years. opportunities was for the important. out but hand And very easily strong vehicles for I Tesla people who the strong wondering timing these But people

and for resonate decide purchase. quite those they So the to like with make then those advanced people who messages technologies, their people the think I

if fuel be vehicles? will me vehicles, to cell further. plans sorry, you FCVs, the going spreading as excuse how about any or are fuel on or doing Mirai generation new that the the out And other CV for you your What be cell commercial popularizing your is vehicles the So idea it?

Unidentified Company Representative

think we a that it's message try than story rather Well, I to a tell.

to our it that we introduce together So vehicles be We brings. a our understood story with want with story. want to models

a features. new when we vehicle the us, talk For new about we launch

will I think But there be want in of what what past. features that is be a as the brought to a by kind story having story in the on will character. on of to kind to new you main using participate this focus you, now able tendency what is we model focus to or

the well, I And to present not we should as explanation new a added new think Mirai launching thought be the be the together to infrastructure. and the also vehicle with that we pure that generation just the it the be that FCV the new It's Mirai EVs model. provide start FCVs, to has for by on when for it's seen that always road.

What about flower it's future honey say bee. which first. like always So is, the comes either the comes not I it's and

the along between need and both. honeybee. environment, the now the vehicles we're And two. in and wave flower the seeing like Infrastructure you is relationship So electrification the the these

a will that full the So in is And trigger, criticisms anytime. our provide any be sharply the what will we that what about at customers. lineup to you maker, will Mr. do. Shimashita options if be direction multiple trigger. post And and always the electrification want have looking that That we I that should we're thinking. of the hope electrification as going you With story, to be you

your comments. to you. forward sharp looking we're So Thank very

Unidentified Company Representative

kinds those can for continuous a I in be So way. of that done hope

those have please. story, emotion, But We to to I important it's us think please. have to your a for Thank comments give and you give us continuation. with you. want sharp a with love, love

that one more to So because limit questions, but like the we it there more. would of are to question time seems


you very much. [Indiscernible], please. Thank

question. so start find on screen, if yourself you your the the please switch screen, So

your switching [Indiscernible] for thank are please? you question screen. you waiting. we the Could Mr. start So

Unidentified Analyst

tend years very continue have know to good have a precept, current about have philosophy, this you in on change important how been that. about the companies profit, in the over they for there is over or and is thinking I name. company the whether looking And Toyota's founder opportunity this long but know until course, idea. you future. Thank focusing you does and company be to to when the asking numerous it's vehicles thing very in your such. time, such. the remain for position. thing About this I company that revenues but companies the a you can mass for some have placed the at really decided question. less a that. a may such market sustain Toyota if Toyota and past, the long that think philosophy good can produces deteriorates when and And Toyota the companies Japanese very emphasis on talks we And will the Toyota spirit [Indiscernible] a don't my to lucky But define never of period performance that's the of But And

the you're things values further philosophy that still you it lingers share of be And think? the tough environment do time. the is never questions is thinking for you Or at to of Sorry on you're addressed now for going value sure is sure, make [Indiscernible]. one that? to Banco? upon? both situation should conditions by to due that happen, in smile think is I focusing company needed And your case. Could when focuses philosophy. is to that Is safe on What the note [Indiscernible] remain or [Indiscernible]? is sure you'll changes to whether on the what the be the is a if So could Or the questions unwavering a change calling And view on current that Mr. when to the how those Is in having do? the of Banco may saw this and definition [Indiscernible]. what make What Toyota change? right is make which and So that? real things asking is what this that that company, real you which the percept

Unidentified Company Representative

Banto. start Banto. with us on [Indiscernible] let So the answer

disappeared a didn't he I And because may [Indiscernible] be until code, of Therefore HR very people the XXXX. and Vice to a existed looking be actually of as to be seem Vice those and difficult commercial call superior because the I is considered change used myself the show Now the And fourth us, wanted Investor he to on that to to that. is restricted present. because it year it want it he the be Banto of may down [Indiscernible]. introduce the was President. President, President, when

EVP are So the started our us eliminated and Banto President calling we And eliminated EVPs. the [indiscernible]. position system the of once

in my own So generation. to this strategy. think of are easy manner. Banto's revolve the And will embedded just those sure employees the of in and be most ideas to role assist employees And to the President. for the help are the President platform. to system is employees whatever I convey make reflected And those an philosophy thinking of understand And important are about that our the to

the again I is sense, to when alignment executive, age. at is I caliber. very And and that Actually idea with online the philosophy the Toyota good you executive. a factor whenever, with with of But have great question. whether make the of key your in numerous important. executive the and sure great executive the leads first with at same top that the capable make have higher sure, I is top understanding the the who people have And top ability I are that's that. important, evaluate, To joined lunch, company, lunch to So or are different. have once whether correct feel performing employees. up is to ensuring and this the running I personally good one strongly there most value very to not well mean, have is online but I I of others about is

wanted employees executives. is thinking to in what the communicate context, So, the younger President general younger or I to

use you be of Toyota which reflect And doing. precept of has into should the wanted the the so itself understanding the and in-depth philosophy about society a throughout the focused created a in we [indiscernible] We that new But distributed translate those company. rather I happiness because members philosophy an which stand and future, we actually qualified precept, are enquiry. sustainable this thinking employees in we backbone said end company. is But company own Japanese Toyota way the on And documents. only to reconsidering to our qualified, and that the easier for doing philosophy job be in changed. manner, and philosophies. now way past, ensure itself and company different including we of printed and of of we other had the refer as do we to that, once many Toyota that that those to factors Japanese. talked may is can other the within will the by was really Toyota our in of what none written we We So wanted the questions company, the that had mean understand permitted but be to

role is play the So I in translating important. very that, that

blamed, have discuss and the sense, almost for every day, my with think, younger when executives time and the I be employees, but raise pressure to blood first recommend The what I in President the that that the So all those had employees nothing scored understand mind. things significantly. I now I in

point to I'm gold point gold, this to of Mr. So role my sure philosophy the in the Whether is not is responding not the is [indiscernible] a the question, itself, that quite Banto. philosophy, relates our I not with view. think it's in starting I'm but only which

Being in [indiscernible] society could post, to and challenges I company to Mr. for that it's some This in whole guiding way Toyota matter, don't pursue themselves extent talked means those about And situation. and any As mentioned take earlier, difficult tax, purpose thing I forward a when face they that used for top view. profit. I in to changes it's conditions in environmental think pay to the be it's going Toyota the that's on philosophy the think, wrong and find contribute bad they very and difficult probably a profit change, place focus executive I our it good. profit. and think, have is important best next generation make actually. which when could and to serve,

the at we Unless works is to We So that how future. continue thing to company for for, we're profits, until whom the today went we is the profit the investment people we're have would profit to and understanding that general the transition profit those importance the was what used find loss-making for We the company's And engaged firm be on for making is as context, is we staged, were have not was our secure in capable many but making shift want is for so as only generate company any booking break its profit but think enjoy. that of having ourselves important. of making through be going we everything put that President, that foot seeking the simply deficits. fully to time. your the used. speaking, And very important can be we profit is a in still can company And when full possible something society start cannot employees people to all make and profit putting used break. profit can do I profit, people Generally to those, of in you When making culture jobs used our able future such that became and in. general. wrong, making and loss, is investment that to and

what all I'd those making intention now are ask trying what sort making profit. purpose used to Toyota like or profits. for stakeholders, on what and question profit those and [indiscernible] on profit and you Mr. so [indiscernible] for, break to of all not to criticize So save that put of you much so or determination

to turning that long-term, made be now day-in, but time continue everybody will this that be although, decision, at looking [indiscernible] please that we can the today perspective. that look say at made but that, can against And and this in I to if that the off, represented back on You could that times. a I time is making decisions critic we [indiscernible] would feel be make are right that was that over paying willing like we point. decision [Indiscernible] day-out at we

give strict So I note hope also continue support. encouraging us you very rather will to

Unidentified Company Representative

much financial announcement. very conclude this you participation [indiscernible] to Thank much for your you for Mr. questions. and your attention. result would Thank We very like your