Toyota Industries Corporation (株式会社豊田自動織機, Kabushiki gaisha Toyota Jidō Shokki) is a Japanese machine maker. Originally, and still (as of 2021), a manufacturer of automatic looms, it is the company from which Toyota Motor Corporation developed. It is the world's largest manufacturer of forklift trucks measured by revenues.
|Kabushiki gaisha Toyota Jidō Shokki|
|Type||Public KK Conglomerate|
|Industry||Auto & Truck Parts|
|Founded||18 November 1926|
|Headquarters||Kariya, Aichi, |
|Tetsurō Toyoda (representative director and chairman)|
Akira Ōnishi (representative director and president)
Kazue Sasaki (representative director, vice president, and head of technology and development)
Takuo Sasaki (representative director, vice president, and head of corporate audit, strategy and legal)
|Products||textile machinery, automobiles, materials handling equipment, electronics devices, etc.|
|Revenue||¥2,214,946 million (as of 03/31/2019)|
|¥134,684 million (as of 03/31/2019)|
|¥159,778 million (as of 03/31/2019)|
|Total assets||¥5,261,174 million (as of 03/31/2019)|
Number of employees
|64,641 (as of 03/31/2019)|
The company was founded on 18 November 1926 as Toyoda Automatic Loom Works, Ltd. by Sakichi Toyoda, the inventor of a series of manual and machine-powered looms. The most significant of these was the 1924 Toyoda Automatic Loom, Type G, a completely automatic high-speed loom featuring the ability to change shuttles without stopping and dozens of other innovations. At the time it was the world's most advanced loom, delivering a clear improvement in quality and a twenty-fold increase in productivity. In 2007, this machine was registered as item No. 16 in the Mechanical Engineering Heritage of Japan as "a landmark achievement that advanced the global textile industry and laid the foundation for the development of the Toyota Group."
In 1933, the company established its automobile department, led by Kiichiro Toyoda, the eldest son of Sakichi Toyoda. This department was spun off as Toyota Motor Co., Ltd. in 1937 and is now known as Toyota Motor Corporation. Toyota Industries is one of 13 core companies of the Toyota Group. The company owns 8.48% of Toyota Motor and is the largest shareholder (excluding trust revolving funds). As a countermeasure against hostile merger and acquisition attempts, Toyota Motor currently holds 24.92% of common stock of its origin Toyota Industries.
In 1940, the steel production department of Toyota Industries was spun off as Toyota Steel Works Ltd. (present Aichi Steel Corporation). In 1944, Toyota Industries's Obu plant, which produces castings, began operations. Five years later, the Toyota Industries stock was listed on the Tokyo, Osaka, and Nagoya Stock Exchanges.
In 1952, Toyota Industries began producing press die for automobiles. One year later the Kyowa plant began to assemble automobiles and produce engines. In 1956 Toyota unveiled the Model LA 1-ton lift truck, this was the company's first lift truck model. In 1957, Toyota Industries began producing D-type diesel engines. That same year, it launched the Model LAT .85-ton towing tractor. In the final year of the decade, Toyota Industries began producing the P-type gasoline engine.
In 1960, the Kyowa plant was modified to only assemble lift trucks. That same year, the company began producing the shovel loader and three cylinder crank shaft type compressor. That same year, Toyota Industries' Development Laboratories and Toyota Central Research were established with funds from ten Toyota group companies. In 1964, Toyota Industries was recognized by Japan's Ministry of International trade and industry as one of the first Japanese companies to export. Toyota Industries also unveiled their new automated continuous spinning system. In 1967, the Toyota Publica entered into production at the company's Nagakusa plant. Toyota Industries had a monthly output of more than 1,000 units.
In 1971, the company started assembling the Corolla. In 1973, Toyota Industries reached an output of 3,000 units. One year later, in 1974, production began on car air-conditioning compressors.
In 1980, the company started producing the JA air. By 1984, the engine division of Toyota Industries was separated from the vehicle division. In 1986, Toyota Industries received the Deming Application prize for quality control implementation. In 1988 Toyota Industrial Equipment is created in Indiana, US.
In 1991, Toyota Industries reached the landmark of 5 million units produced. A year later, it set up an Environmental Committee.
Toyota Industries is active in five business areas: automotive, materials handling, electronics, logistics, and textile machinery.
Toyota-branded forklifts from Toyota Industries share the same logo as Toyota automobiles from Toyota Motor Corporation and are manufactured at the Toyota Industrial Equipment Manufacturing (TIEM) facility in Columbus, Indiana, for the US market.
Toyota Industries Corporation is under contract from Toyota Motor Corporation for the production of the Toyota Vitz/Yaris and the Toyota RAV4. The company manufactures automotive engines for use in Toyota-brand automobiles such as Avensis, Corolla, Crown, and Land Cruiser.
In 2000, Toyota Industries acquired the Swedish-based forklift truck corporation BT Industries, alongside BT's subsidiaries The Raymond Corporation and CESAB. Combined with Toyota Industries' materials handling division, this created the largest forklift company in the world, Toyota Material Handling Corporation.
In October 2012, Toyota Industries acquired Cascade Corp., a maker of attachments for forklifts, for a price of $728 million.
In 2017, Toyota Industries acquired Vanderlande Corp. a manufacturer of automated material handling solutions as well as Bastian Solutions on the North American market
In 2020, Toyota Industries was manufacturing two state-of-the-art looms: the JAT810 (air jet loom) and LWT810 (water jet loom). Both looms operate without shuttles. The water jet loom throws the weft through the warp threads using water, and thus can only be used with synthetic fibers. The air jet loom uses air to throw the weft, and thus can be use with any fiber.
The company's shares are traded on the Tokyo Stock Exchange under symbol 6201.T.
- Bodmer-Altura, Virginia F. (21 February 2012). "USTER technologies to accept sweetened buy-up offer". Retrieved 3 October 2020 – via Textile Future.
- "Toyota Motor Affiliate to Buy Cascade for $759 Million". Bloomberg. 23 October 2012. Retrieved 23 February 2013.
- "Non-Stop Shuttle Change Toyoda Automatic Loom, Type G" (in Japanese). The Japan Society of Mechanical Engineers.
- "History 1990". Japan: Toyota Industries Corporation. Retrieved 3 October 2020.
- "Toyota Material Handling Europe acquires 100% ownership of Swiss Subsidiary". Toyota Material Handling Europe. Retrieved 10 February 2021.
- "Toyota Industries to buy Cascade for $728 mln". Reuters. 22 October 2012.