Outgoing Chair Akio's Farewell Message titled "Arigato"
Toyota's Annual Shareholders' Meeting: Akio Toyoda's Vision for the Future
In Toyota City, Aichi, on June 14, 2023, Akio Toyoda chaired the Toyota General Shareholders' Meeting. The meeting, once Akio's least favourite day of the year, had become a significant opportunity for self-reflection and looking ahead.
Three board members, including Chairman Akio Toyoda and President Koji Sato, were elected. Akio's election was met with tremendous applause, a moment of mutual appreciation. The meeting was attended by 3,774 shareholders, a growing number inspired by Akio's example and drawn to his vision.
Akio Toyoda, supported by shareholders with a mid to long-term outlook, aims for Toyota to be the best in town rather than the best in the world. He believes the battle to change the future for carmakers has already begun.
Under his leadership, Toyota has made significant strides in strengthening its reputation for customer service and trust. The company became the highest-ranked car manufacturer in the UK for customer service according to the July UK Customer Satisfaction Index. Akio's commitment to fostering close, lasting relationships with customers and adapting business practices around their preferences has been instrumental in this achievement.
Toyoda emphasized a customer-centric approach, designing experiences centered on customer needs. This approach has been instrumental in building the brand’s long-term loyalty and market growth. Under his leadership, Toyota launched campaigns like "Toyota Fanatics" which showcase exceptional after-sales services, encouraging customers to return deliberately.
Akio Toyoda's tenure was marked by a deep commitment to upholding Toyota’s traditional focus on quality, customer trust, and innovation. His leadership has been recognised in the motoring world, with his induction into The Motoring Hall of Fame in 2025.
President Koji Sato called for all Toyota employees and partners to change the future of cars. The proceedings included 11 questions from the audience and three resolutions. However, the first shareholder proposal in 18 years, seeking a climate-related amendment to the company's Articles of Incorporation, was rejected.
Looking back, Akio Toyoda stated that he tried to protect the spirit of being a carmaker within Toyota. He wants his generation to be the last to spend time on the past. Akio Toyoda views the annual shareholders' meeting as an important opportunity for self-reflection. He wants to focus on making ever-better cars rather than worrying about sales.
Akio Toyoda wants to protect Japanese monozukuri above all. He believes Toyota's 370,000 global members have shown him that "you can change yourself, and the future." He wants his new team to show its true colours at the shareholders' meeting.
As Akio Toyoda ends his tenure, he expressed that his role was to protect Toyota's genba and future. He wants his generation to be the last to spend time on the past. He spent more time on the frontlines than in the president's office, and his decisions often went against the currents of time and the conservative mainstream of Toyota. The warm messages of support from shareholders have helped Akio Toyoda through his tenure.
[1] Source: Toyota press release, dated June 15, 2023.
In the context of Akio Toyoda's leadership, Toyota's focus on finance and business revolves around maintaining the company's traditional values of quality, customer trust, and innovation, while striving to be the best in town rather than the best in the world. Toyota's strategic moves, such as prioritizing customer service and launching campaigns like "Toyota Fanatics," have been essential in fostering loyalty and market growth.
Akio Toyoda's vision for Toyota's future, as shared at the Annual Shareholders' Meeting, emphasizes a customer-centric approach and nurturing close relationships with customers, which has contributed to Toyota becoming the highest-ranked car manufacturer in the UK for customer service according to the July UK Customer Satisfaction Index. Under Akio's leadership, Toyota is committed to change and adapting to customer preferences, as evidenced by the company's focus on designing experiences centered on customer needs and enhancing after-sales services.
