Toyota 2008 Annual Report Download - page 11

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9
•Annual Report 2008 • TOYOTA
In fiscal 2008, ended March 31, 2008, Toyota set new records in consolidated
net revenues and all income categories. This success enabled us to increase
shareholder dividends paid for the ninth consecutive year. I believe this
ability to increase revenues and earnings in a severe business environment
is the result of the various measures we have implemented.
Although the economic downturn in some developed nations has
caused a certain amount of stagnation in today’s global automotive industry,
markets in resource-rich and emerging countries are rapidly expanding.
However, the environment surrounding the automotive industry is
undergoing drastic changes marked by sharp increases in raw material
costs, sudden currency exchange fluctuations, and increased environmental
regulations worldwide.
I firmly believe that this period of intense change presents us with an
ideal opportunity to transform Toyota’s corporate structure. We are therefore
reexamining our business processes and identifying and solving problems
one-by-one. This enables us to remain focused on building vehicles that
will be accepted by customers worldwide. These challenging times are
particularly well suited to the development of strong human resources.
We will redouble our efforts to develop our employees in the “kaizen mindset”
needed to courageously change those things that need to be changed.
There is a phrase that says, “The strongest grass is revealed after swift
wind.” I believe that the experience of overcoming tough challenges is
essential to developing a corporate structure that is strong and flexible
enough to adapt to change. As we move forward with efforts to further
increase Toyota’s corporate value, I ask all of our shareholders and investors
for their continued support.
July 2008
Katsuaki Watanabe, President
Performance Messages from the Management &
•Overview •Management •Special Feature •Business Overview •Corporate Information •Financial Section •Investor Information •