Toyota Motor Corporation is a multinational automotive manufacturer with headquarters in Toyota City, Aichi, Japan. The company was incorporated on August 28, 1937, and was founded by Kiichiro Toyoda. Toyota is one of the largest automobile manufacturers in the world, producing approximately 10 million vehicles yearly. Toyota was originally a spinoff of Toyota Industries, a machine maker started by Sakichi Toyoda, Kiichiro’s father. Today, both companies are part of the Toyota Group, one of the world’s largest conglomerates. In 1936, Toyota developed its first passenger car, the Toyota AA, while still a department of Toyota Industries. The company’s first product, the Type A engine, was created in 1934.
After World War II, Toyota benefited from Japan’s relationship with the United States to learn from American automakers and other companies. This led to the creation of the Toyota Way, a management philosophy, and the Toyota Production System, a lean manufacturing practice. These innovations helped transform the manufacturing industry not only in Japan but globally. Toyota’s divisions include Lexus and Scion (defunct), and its subsidiaries include Daihatsu, Denso, FAW Toyota, GAC Toyota, Hino Motors, Subaru Corporation, Toyota Argentina, Toyota Auto Body, Toyota Financial Services, Toyota Kirloskar Motors, Toyota Motor Corporation Australia, Toyota Motor Europe, Toyota Motor East Japan, Toyota Motor Kyushu, Toyota Motor Manufacturing Indonesia, Toyota Motor North America, Toyota Motor Pakistan, Toyota Motor Philippines, Toyota Motor Thailand, Toyota South Africa Motors, and Woven Planet Holdings. Fiscal Year 2021 (FY21) is from April 1, 2020, to March 31, 2021.