Tetsuro Toyoda
Profile
Performance in office
Tenure
Tenure
Background
He joined Toyota Motor Sales in 1970 and, after serving as Vice President of Toyota Motor Sales, U.S.A. from February 1991, moved to Toyota Industries as a Director in June of that year. He rose through Managing Director, Senior Managing Director and Executive Vice President to become president in June 2005. Though from the Toyoda family, he had no capital backing: as of March 2006 the top ten shareholders were corporations led by Toyota Motor at 23.51%, Denso at 9.1% and The Master Trust Bank of Japan at 6.01%, with no individuals.
Selection
He succeeded Tadashi Ishikawa as president in June 2005, the first president from the Toyoda family in 13 years, since Yoshitoshi Toyoda stepped down in 1992. In his predecessor's seven years, the BT Industries acquisition and the name change had been completed, and consolidated net sales had doubled from ¥572.6 billion in the fiscal year ended March 1998 to ¥1,241.5 billion in FY ended March 2005. He inherited an industrial vehicle business that had become the world's largest.
Initiatives
In his third year, the fiscal year ended March 2008, consolidated net sales grew to ¥2,000.5 billion and operating income to ¥96.9 billion. The global financial crisis hit both contract manufacturing and industrial vehicles, and in FY ended March 2009 the company fell to an operating loss of ¥6.6 billion and a net loss of ¥32.7 billion; FY ended March 2010 brought a further net loss of ¥26.2 billion, making two consecutive years in the red. It then returned to net income of ¥47.2 billion in FY ended March 2011 and recovered to net sales of ¥1,615.2 billion and operating income of ¥77.1 billion in FY ended March 2013. In March 2013 it made Cascade of the U.S. a subsidiary.
Career
Career
Toyota Motor Sales
| Date | Position |
|---|---|
| Apr 1970 | Joined |
| Feb 1991 | Executive Vice President, U.S. Toyota Motor Sales |
Toyota Industries
| Date | Position |
|---|---|
| Jun 1991 | Director |
| Jun 1997 | Managing Director |
| Jun 1999 | Senior Managing Director |
| Jun 2002 | Executive Vice President |
| Jun 2005 | President |
| Jun 2013 | Chairman |
| Jun 2013 | Stepped down as President |
Chubu Economic Federation
| Date | Position |
|---|---|
| Jun 2016 | Chairman |