DIRS.INFO The most relevant business & tech news

TOKYO (AP) — Japanese transport officials raided a Toyota-affiliated plant Tuesday after the company admitted to cheating on engine testing, as Toyota Motor Corp. reported it sold over 11 million vehicles in 2023 to retain its status as the world’s top car manufacturer. In April, a whistleblower exposed that Daihatsu Motor Corp., which makes small cars and is 100% owned by Toyota, had been cheating on its testing for decades. In 2022, Hino Motors, a truck maker that’s also part of the Toyota group, said it had systematically falsified emissions data dating back as far as 2003. But production has been halted on some of the models, including the 10 models affected by the latest cheating. Sato has acknowledged Toyota group companies need better communication and education about the importance of complying with rules.

Persons: Akio Toyoda, ” Toyoda, Toyoda, Sakichi Toyoda, Kiichiro Toyoda, Akio’s, Koji Sato, that’s, Sato, Daisuke Uchida, ” Uchida, “, ” ___ Yuri Kageyama Organizations: TOKYO, Toyota, Toyota Motor Corp, Toyota Industries Corp, Lexus, Volkswagen AG, Reporters, Daihatsu Motor Corp, Hino Motors, Nikkei, Toyota Industries, Cruiser, General Motors Co, Pontiac, Keio University Locations: Hekinan, Aichi Prefecture, Japan, Nagoya, Tokyo, Europe, East, Africa, Asia, North America, United States, California

TOKYO (AP) — Toyota chief Koji Sato apologized Monday to customers, suppliers and dealers for flawed testing at a group company, following a series of similar problems in recent years. The apology came a day before Chairman Akio Toyoda is to announce a “global vision” for the Toyota Motor Corp. group. The latest woes at Japan’s top automaker involve testing required for Japanese government approval at Toyota Industries Corp., which makes diesel engines. In 2022, Hino Motors, a truck maker that’s also part of the Toyota group, said it had systematically falsified emissions data dating back as far as 2003. They include the Land Cruiser and Hilux sport utility vehicles, according to Toyota.

Persons: —, Koji Sato, Akio Toyoda, ” Sato, ”, that’s, Sato, “, Yuri Kageyama Organizations: TOKYO, — Toyota, Toyota Motor Corp, Toyota Industries Corp, Toyota, “, Daihatsu Motor Corp, Hino Motors, Cruiser Locations: Tokyo, Japan, Europe, East, Africa, Asia, North America

The plant will serve as Toyota's epicenter of lithium-ion battery production in North America and will be a key supplier for the Kentucky-based plant tasked with building its first U.S.-made electric vehicles, the company said. Sean Suggs, president of Toyota North Carolina, said the announcement “reinforces Toyota’s commitment to electrification and carbon reduction,” while fulfilling its promise to bring economic growth to North Carolina. Toyota has committed to using 100% renewable energy to produce batteries at the North Carolina plant, which has been under construction since 2021. Toyota says it will have 15 battery electric vehicles for sale globally by 2025. Toyota could receive hundreds of million in cash incentives, tax breaks and infrastructure upgrades from the state of North Carolina and local governments for fulfilling its job creation and investment goals, according to state officials and documents.

Persons: —, ”, Roy Cooper, Koji Sato, Sean Suggs, Joe Biden’s, Phil Berger Organizations: — Toyota, Toyota, Automotive, U.S . Department of Energy, Republican, Associated Press, America Statehouse News Initiative, America Locations: RALEIGH, N.C, North Carolina, Greensboro, North America, Kentucky, U.S, Tokyo, Toyota North Carolina

☆ Toyota September production jumps on stronger Japan output
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

Attendees listen as President, CEO and Member of the Board of Directors at Toyota Motor Corporation Koji Sato holds a press briefing during a press day of the Japan Mobility Show 2023 at Tokyo Big Sight in Tokyo, Japan October 25, 2023. REUTERS/Issei Kato Acquire Licensing RightsTOKYO, Oct 30 (Reuters) - Toyota Motor (7203.T) said on Monday that worldwide production rose 1.5% in September from the same period a year earlier to 900,919 vehicles, boosted by stronger demand in Japan, the United States and in Europe. The world's biggest automaker by sales reported an 11.6% jump in global sales in September to 921,308 vehicles. Domestic sales surged 20.5% in September, while those in the United States rose 14% and sales in Europe were up 18.1%. In China, the world's biggest auto market, Toyota reported a nearly 7% decline in production even as it reported slightly higher year-on-year sales.

Persons: Toyota Motor Corporation Koji Sato, Issei Kato, Daniel Leussink, Jamie Freed Organizations: Toyota Motor Corporation, Japan, REUTERS, Rights, Toyota, Lexus, Thomson Locations: Tokyo, Japan, United States, Europe, Thailand, Indonesia, Vietnam, China

☆ Toyota, Idemitsu join hands to mass-produce all-solid-state batteries
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

A worker cleans Toyota's Electric Vehicle bZ4X, that is displayed during the Gaikindo Indonesia International Auto Show in Tangerang, near Jakarta, Indonesia, August 10, 2023. REUTERS/Willy Kurniawan/File Photo Acquire Licensing RightsTOKYO, Oct 12 (Reuters) - Toyota Motor (7203.T) and Idemitsu Kosan (5019.T) have joined hands to develop and mass-produce all-solid-state batteries for electric vehicles, the companies said on Thursday. Idemitsu and Toyota said in a statement they would aim to commercialise the next-generation batteries in 2027-28, followed by full-scale mass production. Toyota President Koji Sato and Idemitsu President Shunichi Kito will hold a press conference at 3 p.m. (0600 GMT) on Thursday. Solid-state batteries can hold more energy than current liquid electrolyte batteries.

Persons: Willy Kurniawan, Idemitsu Kosan, Koji Sato, Shunichi Kito, Chang, Ran Kim, Muralikumar Organizations: REUTERS, Rights, Toyota, world's, Thomson Locations: Indonesia, Tangerang, Jakarta

☆ In EV battle, Toyota bets on new technology and old-school thinking
▼ + stars: | 2023-09-18 | by ( David Dolan | ) www.reuters.com time to read: +5 min

He pointed to engineering and technology expertise anchored in "TPS", shorthand for the Toyota Production System. Toyota revolutionised modern manufacturing with its system of lean production, just-in-time delivery and "kanban" workflow organisation. ASSEMBLY LINE, GIGACASTINGOne innovation being emphasised by Toyota is its self-propelled production lines, where EVs are guided by sensors through the assembly line. Toyota also showed off a prototype of the die-casting technology known as "gigacasting" pioneered by Tesla that produces aluminium parts far bigger than anything used before in auto manufacturing. Like Tesla, Toyota says it will produce EVs in modular sections, reducing parts.

Persons: EVs, Goldman Sachs, Kazuaki Shingo, Tesla, Koji Sato, David Dolan, Jamie Freed Organizations: Toyota, TOYOTA CITY, TPS, System, United Auto Workers, Tesla, Thomson Locations: Japan, gigacasting, Toyota City, Motomachi

☆ What happened to shut down Toyota's production in Japan?
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +4 min

WHAT HAPPENED TO SHUT DOWN TOYOTA'S PRODUCTION IN JAPAN? Toyota's production has been recovering this year, so the outage could be potentially more costly than the 2022 shutdown. Toyota's production in Japan - about a third of its global output - averaged about 13,500 vehicles a day in the first half of the year, Reuters calculations showed. WHAT IS TOYOTA'S PRODUCTION AND SUPPLIER MANAGEMENT SYSTEM? Toyota's system of lean production and just-in-time parts delivery has been adopted across the auto industry and widely studied.

Persons: Taichi Ono, Wiggly, Koji Sato, Akio Toyoda, Tesla, Daniel Leussink, Satoshi Sugiyama, Kevin Krolicki, Christopher Cushing Organizations: Toyota, Kyodo, REUTERS Acquire, Kojima Industries, Lexus, Daihatsu, Hino, TOYOTA, ITS, Thomson Locations: Toyota, Aichi Prefecture, Japan, JAPAN, United States

HONG KONG, Aug 2 (Reuters Breakingviews) - Koji Sato enjoyed a smooth ride in his first quarter behind the wheel at Toyota Motor (7203.T). Toyota now trades just shy of 10 times estimated earnings for the next 12 months, per Refinitiv. Those same Chinese brands are encroaching on emerging markets like Thailand, where Toyota has traditionally sold well. Executives told investors on Tuesday that they’re eager to review other investments, too, including cross-holdings in the Toyota group and other assets. Total sales rose by 24% to 10.5 trillion yen in the same period.

Persons: Koji Sato, Sato, Toyota’s, that’s, Encouragingly Sato, Antony Currie, Pranav Kiran Organizations: Reuters, Toyota, Ford, General Motors, Nissan, Thomson Locations: HONG KONG, Asia, China, Thailand

☆ Toyota defies skeptics as stock seals best week since 2009
▼ + stars: | 2023-06-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – Toyota Motor stock sealed its best week since 2009 on Friday, as the automaker laid out a robust plan for future all-electric vehicles and company scion Akio Toyoda became leader of the Japanese company's board. Shares of Toyota on the New York Stock Exchange closed Friday at $164.35 per share, down 2.3% for the day but still up 10.6% on the week. That 5-day gain is the stock's best week since April 2009 when shares increased 14.5%. It's only the third double-digit weekly gain in more than two decades for the relatively well-performing but mundane stock. Shares of the company are up 20% so far in 2023.

Persons: Akio Toyoda, Toyoda, Koji Sato Organizations: DETROIT, Toyota, New York Stock Exchange, Prius Prime Locations: EVs

☆ Toyota makes its case at AGM after investors question strategy, governance
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

The roadmap could help the world's top-selling automaker make its case to investors at the meeting, where it also faces a shareholder resolution over its climate lobbying as well as questions about governance. EV ROADMAPToyota aims to produce more efficient, faster-charging versions of current batteries to improve EV driving range and cost, and, within the decade, mass produce game-changing solid-state batteries after saying it had overcome a technical hurdle. MANUFACTURING CHANGEThe carmaker said it would radically redesign manufacturing, having vehicles drive along the production line instead of being carried by conveyor. GOVERNANCETwo huge U.S. public pension funds voted against the re-election of Chairman Akio Toyoda, with proxy advisor Glass Lewis saying re-election threatened board independence. CLIMATE LOBBYINGThree asset managers have urged Toyota to improve disclosure of climate change lobbying in a proposal backed by proxy advisor Institutional Shareholder Services.

Persons: Koji Sato, Tesla, Akio Toyoda, Glass Lewis Organizations: Toyota, EV, Tokyo, Exchange, Services, Thomson Locations: TOKYO

☆ Toyota shares hit 16-month high as shareholders endorse board, new EV strategy
▼ + stars: | 2023-06-14 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

People arrive to attend an annual shareholders' meeting for Toyota Motor in the city of Toyota, Aichi Prefecture on June 14, 2023. Toyota shares soared to a 16-month high Wednesday after shareholders of the world's largest car manufacturer voted to retain Akio Toyoda as its chairman in a broad endorsement of the company's governance and new electric vehicle strategy. Toyota shares closed up 6.3% at 2,310 Japanese yen ($16.48) per share in robust volumes — their highest close since Feb. 9, 2022. Their record closing high at 2,390 Japanese yen per share was recorded Jan. 9, 2022. On Wednesday, Toyota shares outperformed the 1.5% gain on the Nikkei and 1.3% rise for the Topix benchmarks in Tokyo.

Persons: Akio Toyoda, Koji Sato's Organizations: Toyota Motor, Toyota, Nikkei Locations: Aichi Prefecture, Toyota City, Tokyo

The plan comes a day before an annual shareholders meeting where governance and strategy - including a slow pivot to battery EVs under former CEO Akio Toyoda - will be scrutinised. Toyota said it aims to launch next-generation lithium-ion batteries from 2026 offering longer ranges and quicker charging. At the high end of the market, Toyota said it would produce an EV with a more efficient lithium-ion battery offering a range of 1,000 km (621 miles). An EV powered by a solid-state battery would have a range of 1,200 km and charging time of just 10 minutes, Toyota said. "What we want to achieve is to change the future with BEVs," Takero Kato, president of new Toyota EV unit BEV Factory, said in a video posted on the automaker's YouTube channel on Tuesday.

Persons: Akio Toyoda, Koji Sato, Takero Kato, BEV Factory, Henry Ford, Koji Endo, Toyota's, I'm, it's, Toyota's BEV Factory, Kato, Tesla, Daniel Leussink, Christopher Cushing, Kevin Krolicki Organizations: Toyota, EVs, Tesla, Engineers, Toyota EV, YouTube, NEW ASSEMBLY, SBI Securities, Lexus, Thomson Locations: TOKYO, China

☆ Toyota shares surge 5% after announcing plans for next-gen battery EVs
▼ + stars: | 2023-06-13 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

In this article 7203.T-JP Follow your favorite stocks CREATE FREE ACCOUNTA display of Toyota electrified vehicles at the 2022 New York Auto Show, April 13, 2022. Toyota has a goal of achieving sales of 1.5 million all-electric vehicles per year by 2026, and selling 3.5 million all-electric vehicles annually by 2030. Separately, the company is also developing a method for mass producing all-solid-state batteries for battery electric vehicles, and aims to commercialize this in 2027 to 2028. Toyota said it will be looking at a 20% improvement in cruising range for its all-solid-state batteries, compared to the current batteries. HEVs refer to hybrid electric vehicles, which are vehicles that are powered by a conventional internal combustion engine in combination with one or more electric motors.

Persons: Scott Mlyn, Koji Sato, Sato, Akio Toyoda Organizations: Toyota, York Auto Show, CNBC, Tesla, Nikkei

[1/2] A Toyota logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' DelgadoTOKYO, May 12 (Reuters) - Toyota Motor Corp (7203.T) said on Friday the vehicle data of 2.15 million users in Japan, or almost the entire customer base who signed up for its main cloud service platforms since 2012, had been publicly available for a decade due to human error. The issue, which began in November 2013 and lasted until mid-April, stemmed from human error, leading to a cloud system being set to public instead of private, a Toyota spokesperson said. It could encompass details such as vehicle locations and identification numbers of vehicle devices, but there were no reports of malicious use, the company said. Toyota said it would introduce a system to audit cloud settings, establish a system to continuously monitor settings, and thoroughly educate employees on data handling rules.

Toyota's board on Wednesday recommended that shareholders vote against the resolution, to be put to the company's annual general meeting in June. On Wednesday Toyota said it expects a five-fold jump in pure electric vehicle (EV) sales this business year. "We need concrete policy changes and a better annual review drawing on independent data to calm international investors." LONG ENGAGEMENTIt will be the first time that Toyota faces such a climate-related resolution at its annual general meeting, the funds said. It first planned to submit a shareholder proposal in 2021, but withdrew that after it received assurances that Toyota would review its climate lobbying.

Toyota forecast operating profit will rise to 3.0 trillion yen ($22.2 billion) this business year, in line with analysts' average forecast of 3.02 trillion yen. That target came operating profit for the fiscal fourth quarter through March surged more than a third to 626.9 billion yen - easily ahead of the average 553.46 billion yen profit estimated by 10 analysts, according to Refinitiv data. Reflecting the weak yen impact, revenue for the business year ended March 2023 grew to a record 37.15 trillion yen. EV ACCELERATIONThe new EV sales target, still a fraction of industry leader Tesla (TSLA.O), would boost Toyota's battery EVs to nearly 2% of total sales volume, up from just 0.4% of its total vehicle sales in the last fiscal year. "We expect an increase in (overall) sales volume in all regions and production volume of 10.1 million (vehicles), due to such factors as ... improvement in semiconductor supply," Toyota said in a statement.

BANGKOK, May 8 (Reuters) - Japanese carmaker Toyota Motor Corp (7203.T) has stopped sales and deliveries of its Yaris Ativ in Thailand, senior officials said on Monday, after its affiliate Daihatsu rigged part of the door in side-collision safety tests. Toyota was working with the Thai government to resume sales of the model, which has been produced in Toyota's Gateway plant in Chachoengsao province, and further investigation was underway. "If development had been carried out under appropriate conditions, this kind of problem would of course not have happened," Maeda said. Daihatsu has said that some 76,000 of those vehicles were Yaris Ativs mainly bound for Thailand, Mexico and the Gulf Cooperation Council. Toyota President Koji Sato, who took over the top job from Toyoda on April 1, was not at the press conference.

While other automakers like Volkswagen AG (VOWG_p.DE) have also been caught out by the sharp shift in China, Japanese automakers stand out because of their limited showing in the fast-growing category of electric and plug-in hybrid sales. Mitsubishi, like some other Japanese automakers, does not break out China sales figures. Industry data analysed by Reuters showed its first-quarter sales in China fell by 58% from a year earlier. Nissan Motor Co Ltd (7201.T) posted a 45.8% drop in China sales and Mazda Motor Corp (7261.T) sales were down 66.5% in the first quarter. "Japanese automakers could face a similar struggle in the United States as in China," he said.

TOKYO, April 7 (Reuters) - Toyota Motor Corp (7203.T) said on Friday it aims to introduce 10 new battery electric vehicle models by 2026 - a long awaited ramp-up in an area that the Japanese automaker has been slow to embrace. Investors have long argued that Toyota has not been fast enough in developing a battery-powered vehicle line-up, instead favouring hybrids like its pioneering Prius. Toyota has countered that a mix of options - including gasoline-electric hybrids, makes more sense for its global customer base. New chief executive Koji Sato said Toyota would speed up in battery electrics but added that hybrids would remain an important pillar of its business. Toyota is targeting annual production of 1.5 million battery-powered cars by 2026, Chief Technology Officer Hiroki Nakajima told the briefing.

A new EV platform, if implemented, would be the result of a far-reaching review of Toyota's electric-car strategy undertaken last year. Its current production architecture, the e-TNGA system, was launched in 2019 and produces electric vehicles on the same assembly line as gasoline cars and hybrids. The briefing was given by the former chief competitive officer tasked with the EV strategy review, Shigeki Terashi, according to the person. So far it has fallen short - its initial battery EV, the bZ4X, suffered an early recall and has had only limited sales. GM sold more than 20,000 electric vehicles during the first quarter while Toyota and its luxury brand Lexus sold about 1,880 battery electrics.

☆ Toyota accepts union demands for biggest wage hike in two decades
▼ + stars: | 2023-02-23 | by ( ) edition.cnn.com time to read: +3 min

As one of Japan’s biggest employers, Toyota (TM) has long served as a bellwether of the spring labor talks, which are in full swing at major companies. Toyota and the union federation representing 357,000 Toyota group workers said the base pay rise was the biggest in two decades, though they both declined to provide the percentage increase. Successful talksToyota said its wage increase would also apply to part-time workers and senior contract workers. Takaaki Sakagami, deputy secretary-general of the Federation of All Toyota Workers’ Union, said the union was pleased it had been able to reach a deal with the company quickly. Video game maker Nintendo (NTDOF) said earlier this month that it planned to lift workers’ base pay by 10%, despite trimming its full-year profit forecast.

TOKYO, Feb 22 (Reuters) - Toyota Motor Corp (7203.T), the world's biggest automaker, said on Wednesday it would accept a union demand for the biggest base salary increase in 20 years and a rise in bonus payments, as Japan steps up calls for businesses to hike pay. As one of Japan's biggest employers, Toyota has long served as a bellwether of the spring labour talks, which are in full swing at major companies. The All Toyota Workers' Union is set to hold a media briefing later on Wednesday. "We will boost consumption and expand domestic demand by promoting efforts toward structural wage increases," Kishida said at a lower house budget committee session on Wednesday. Video game maker Nintendo Co Ltd (7974.T) said earlier this month that it planned to lift workers' base pay by 10%, despite trimming its full-year profit forecast.

☆ New Toyota Chief Says He Will Accelerate Shift in EV Strategy
▼ + stars: | 2023-02-13 | by ( River Davis | ) www.wsj.com time to read: 1 min

TOKYO— Toyota Motor Corp.’s new chief executive said he was looking to accelerate the auto maker’s push into electric vehicles by introducing new EV-optimized parts and manufacturing methods. Toyota will develop new EVs for its luxury Lexus brand by 2026, and everything in those models will be optimized for EVs including the battery and the manufacturing platform, Koji Sato said at a briefing Monday. Mr. Sato, 53, is set to become chief executive in April, taking over from longtime leader Akio Toyoda .

☆ Toyota to ramp up on batteries, keep its options open, new CEO says
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

[1/4] Koji Sato, who was named as new CEO of Toyota Motor Corp, attends Tokyo Auto Salon 2023 at Makuhari Messe in Chiba, east of Tokyo, Japan January 13, 2023. REUTERS/Kim Kyung-HoonCompanies Toyota Motor Corp FollowLexus FollowTOKYO, Feb 13 (Reuters) - Toyota Motor Corp (7203.T) will ramp up its battery-electric offerings by focusing on its Lexus luxury brand, its incoming chief executive said on Monday, but the company will not deviate from a long held strategy of exploring other technologies. Toyota, which popularised the hybrid technology of the Prius, has said that hybrids make better sense for many drivers, especially in markets where the infrastructure is not ready to support batteries. Sato said Toyota would accelerate its battery-electric offerings by focusing on the Lexus. While he oversaw the creation of Lexus's first fully electric model, he has previously spoken of keeping open other options for powering vehicles.

Search resuls for: "Koji Sato"

25 mentions found