Toyota 2006 Annual Report Download - page 9

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7
In automotive markets worldwide, demand promises to remain strong. While many
regions are likely to see the continuing spread of automobiles, more mature regions
offer encouraging prospects for vehicles incorporating new technology and concepts.
In view of these trends, I am confident that automotive markets will expand in the
medium-to-long term and that the automobile industry will sustain growth by exploit-
ing the substantial potential of these markets. However, in light of the world economic
outlook and other possible sources of instability, the overall international situation
requires careful monitoring. Against that backdrop, my mission is to ensure that we
sustain growth by responding flexibly to operating conditions while capitalizing on
business opportunities.
However, I am not looking to do anything out of the ordinary. As we have always
done, I want to honestly, steadily, and uncompromisingly manufacture vehicles and
develop technology that anticipates the needs of society and customers. Nevertheless, in
an evolving environment, it is important that we distinguish clearly between things that
must be changed and things that must not and have the courage to make the necessary
changes. As I have said since becoming president last year, we will consolidate our foun-
dations while continuing efforts to realize the world’s best products, the world’s fastest
and lowest-cost manufacturing, and the world’s best sales service. I am convinced that
such measures are the most direct route to enhanced corporate value.
The ability of Toyota’s employees to share large ambitions and work as a team to
achieve them is the power that drives the Company’s development forward. Passing on
and evolving this culture, we will continue growing by developing operational activities
based on continuous improvement that anticipates changes in the world. At the same
time, Toyota will foster good relations with all of its stakeholders to become a global
company in which people and local communities around the world place long-term
trust. I ask our shareholders and other investors for their continued support.
July 2006
Katsuaki Watanabe, President
Geared toward Continuing Growth