Sustained Innovation and Creativity - Toyota Industries Corporation

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Focus onBusiness3Vehicle/EngineRealizing Global Competitiveness viaOperational ExcellenceToyota Industries contributes to Toyota Motor Corporation’s car production through theassembly of automobiles and the manufacture of engines. In recent years, the Vehicle andEngine businesses have undertaken a host of initiatives for expanding their operations inresponse to TMC’s global strategy. Highly aware that outstanding production capabilities arethe wellspring of competitiveness for these businesses, we expect to make unrelenting effortsto achieve continuous improvements and further strengthen competitiveness.30 Toyota Industries Corporation Annual Report 2006
Vehicle BusinessAdvantages as a Compact and MidsizeAutomobile ManufacturerToyota Industries plays a vital role in Toyota MotorCorporation’s (TMC) car production as one of the vehicleassembly arms within the Toyota Group. Our Vehicle Businessprimarily assembles compact and midsize automobiles underconsignment from TMC. At present, we manufacture twomodels, the RAV4 for Europe and the United States and theVitz (Yaris outside Japan). Our Vehicle Business has won highacclaim for its top-class quality and quick production launchwithin the Toyota Group. Moreover, the adoption of theToyota Production System ensures the thorough elimination ofall waste from production operations and that our plants areutilized with the utmost effi ciency.The Vehicle Business’s automobile assembly operationsdate back to the Publica (van) and Corolla (van) in thelate 1960s and early 1970s. Based on the success of theseoperations, the full-scale assembly business commenced withthe Starlet at the Nagakusa Plant in 1978. We subsequentlystarted manufacturing the Vitz (Yaris outside Japan), thesuccessor vehicle of the Starlet, in 1999. The fi rst-generationVitz sparked an expansion in the compact car market inJapan and was later recognized as a global-standardcompact car. Re-introduced in Japan in February 2005 afterundergoing a full model change, the second-generationVitz integrates the most advanced safety features andenvironmental technologies, offering the highest level ofquality.The RAV4 also underwent a full model change and wasre-introduced in November 2005. The newest RAV4 is a trulyglobal model, offering an even wider interior, high drivingperformance and world-class environmental and safetyperformance.Highly Effi cient Pre-Production ProcessTo launch production of the new Vitz and RAV4 in a shorttime period, we conducted a sweeping review of our entirepre-production process that included reducing the burdenof the actual pre-production process as well as equalizingpeak burdens. Along with these measures, we removedmany barriers among relevant manufacturing, productiontechnology and quality control departments. By eliminatingsuch obstacles as communication gaps—an impedimentto speed—and delayed decision-making, we successfullyimplemented concurrent engineering whereby everyoneworked as part of a unifi ed organization to handle multipletasks simultaneously.We also improved infrastructure at our assembly plant tobetter respond to TMC’s global expansion and be ready tomanufacture at a high, stable level.While further raising production capabilities, which arethe strength of our Vehicles Business, we expect to producevehicles with superior quality and cost effi ciency, therebyfurther contributing to TMC’s car manufacturing operations.TopicAD Diesel Engine Fitted in the RAV4 for EuropeHighly fuel-effi cient, diesel engine vehicles are widely popular asecological vehicles, especially in Europe sincethey emit less CO2.Toyota Industries developed theecological AD diesel engine jointly withTMC. The engine is produced at ToyotaIndustries’ Hekinan Plant and fi tted in thenew RAV4 for Europe, which is assembledby the Vehicle Business.AD diesel engineVehiclesVitz(Yaris outside Japan)RAV4Toyota Industries Corporation Annual Report 200631
Page 1 and 2: ANNUAL REPORTYear ended March 31, 2
Page 3 and 4: Contents24614Consolidated Financial
Page 5 and 6: Net SalesOperating IncomeNet Income
Page 7 and 8: Tadashi IshikawaChairmanTetsuro Toy
Page 9 and 10: Record-Breaking Results for Fiscal
Page 11 and 12: Further Deploying Our Engine Busine
Page 13 and 14: examples, each division undertakes
Page 15 and 16: progress in globalizing its busines
Page 17 and 18: Logistics SegmentTextile Ma chin er
Page 19 and 20: Toyota Material Handling Group—Ma
Page 21 and 22: Business Activities in Fiscal 2006J
Page 23 and 24: Looking AheadJapanese MarketThe yea
Page 25 and 26: Products for the Japanese MarketPro
Page 27 and 28: Products for the European MarketPle
Page 29 and 30: Breakthrough Innovations and Cuttin
Page 31: variable-displacementcompressors, w
Page 35 and 36: Project. This project involves the
Page 37 and 38: Car ElectronicsToyota Industries’
Page 39 and 40: Semiconductor Package SubstratesToy
Page 41 and 42: Creating Logistics Solutions by Ado
Page 43 and 44: Focus onBusiness6Textile Ma chin er
Page 45 and 46: ExploringToyota IndustriesToyota In
Page 47 and 48: of the Toyota Material Handling Gro
Page 49 and 50: New Products Developed and Launched
Page 51 and 52: Corporate Governance Structure of T
Page 53 and 54: Environmental and Social Contributi
Page 55 and 56: Social Contribution ActivitiesToyot
Page 57 and 58: 1990s - 2000s -1990Sprinter Carib (
Page 59 and 60: Directors, Corporate Auditors and M
Page 61 and 62: Company NameLocationCapital(thousan
Page 63 and 64: Fi nan cial Sec tion626474767778799
Page 65 and 66: Millions of yen2002 2001 2000 1999
Page 67 and 68: Operating Income andOperating Incom
Page 69 and 70: Net Sales ofTextile MachinerySegmen
Page 71 and 72: Cash Flows(¥ Billion)150100500(50)
Page 73 and 74: Toyota Industries intends to use re
Page 75 and 76: Signifi cant Accounting Policies an
Page 77 and 78: LIABILITIES, MINORITY INTERESTS AND
Page 79 and 80: Consolidated Statements of Sharehol
Page 81 and 82: Notes to Consolidated Financial Sta
Page 83 and 84:
(15) Hedge accounting(a) Method of
Page 85 and 86:
(2) As of and for the year ended Ma
Page 87 and 88:
7. Assets pledged as collateral(1)
Page 89 and 90:
13. Derivative instruments(1) Quali
Page 91 and 92:
15. Income taxes(1) The signifi can
Page 93 and 94:
(2) Operating leases (as a lessee)P
Page 95 and 96:
2006 2005 20042006Assets:Automobile
Page 97 and 98:
2006 2005 20042006Assets:Japan ¥ 8
Page 99 and 100:
20. Net income per share (EPS)Basis
Page 101 and 102:
Toyota Industriesin NumbersToyota I
Page 103 and 104:
(Years ended March 31)Net Sales and
Page 105 and 106:
(Years ended March 31)Cash Dividend
Page 107 and 108:
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Sustained Innovation and Creativity - Toyota Industries Corporation

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