It's been a while since I returned as Chairman, and I want to create a shareholder meeting that we can be proud of to the world. I'm the one responsible for that.
During the 14 years I served and the three years Chairman Sato led, I believe you've noticed many changes in our shareholder meetings. During COVID, when about 300 shareholders came here, to now—we currently have 892 shareholders attending. I'm truly grateful to be supported by so many. Thank you so much.
The shareholder meeting changed also because I was able to lead what I'd call a revolution in car making. The starting point was really two things: that I'm not an engineer, and that I inherited the company when it was in the red. I also went to a board meeting representing Toyota, and those experiences became my starting point. At the time, Toyota was being praised for generating profits, but I inherited the baton saying things like 'You should take responsibility for the losses and step down.' I felt tremendous pressure and honestly didn't know what to do. The only thing I could do was show my love for Toyota and my passion for driving—risking my life at the Nürburgring to demonstrate where I believed Toyota should go.
Back then, I received harsh criticism for driving from within and outside the company, but now I receive encouragement from many people. Above all, hearing 'the cars have changed' is the greatest joy. Another major change was testifying before a U.S. Congressional hearing—that was a turning point for me personally. When facing a company crisis, I felt my role was to fight for Toyota's past, present, and future, taking responsibility not just for Toyota but for group companies, dealers, and suppliers. Thanks to the support of shareholders and colleagues, I've now become Chairman and returned to this chairman's seat.
The biggest difference between then and now is having colleagues in car making. I don't have subordinates—I have colleagues. Together with them, I want to continue making great cars, so please look forward to Toyota. Shareholders are the owners of the company. At one point I thought of it as a mirror we look into once a year, but Toyota's shareholder meeting should be a place where owners and management can have truly honest discussions. I want to create that kind of shareholder meeting.
It's been a while since I returned as Chairman, and it's nice not to be the one nominated but the one doing the nominating—I'm in control now. So if you'll allow it, I'd like to continue a bit longer. This is a shareholder meeting we build together with all of you. I want to make it something we can be proud of to the world, so please continue giving us your warm yet strict feedback—that's the role of owners. I ask for that role so we can respond and improve.
First, why did I take part in that press conference? When such problems arise, society tends to focus on preventing recurrence, but every day on the front lines things don't go as planned. The key is catching mistakes early and correcting course. Toyota has carried the expectation of quality for so long. When people say 'prevent recurrence,' it turns into a witch hunt. The role of top leadership is to make decisions and take responsibility. In a global company like Toyota, many people are involved in making cars—it's not one person's fault. When pointing to the culprit, I felt the most appropriate person was me. By declaring 'I am the culprit,' the front lines calmed down, and true prevention of recurrence was achieved.
As an industrial product, there's variation. When selling 10 million vehicles, unintended issues can occur. If I publicly promise 'this will never happen again,' the large organization might try to hide problems to avoid embarrassing the chairman. Hiding problems is the biggest issue. The key is acknowledging that problems occur, having the person in charge take responsibility, so the front lines can settle down and work starting the next day. To enable that, I fundamentally reformed the flow of materials and information.
Today's Japan has an automotive industry that has spread worldwide. Young people in music and sports are also broadcasting Japan's appeal globally. If these connect, we can engage more with the world and contribute to peace. Toyota has worked diligently, and now has the strength to work for society. I want to use this strength through motorsports, sumo, sports, and music to connect with the world. Cultural exchange leads to Toyota's growth, and more people will see that as positive for society. I'm pursuing these activities with this thinking.
Rather than 'why music,' it's about young people. Toyota has a global path. For young people active in Japan who dream of the world, I want them to choose Toyota as a partner for their journey. We'll continue working hard on this, so I ask for your understanding of our cultural exchange efforts.
The origin of the Toyota Group, as I understand it, is a parent's desire to make their mother's work easier. That led to the invention of the automatic loom, which evolved into the Toyota Production System based on humanity and respect. Sakichi's automatic looms grew to split the world textile market with Platt Brothers. When reaching the top in textiles, Sakichi didn't expand further but instead established the automobile division to challenge the automotive business needed for the next era. That's the origin of Toyota Motor Corporation. Toyota and the Toyota Group share the same roots.
In the three years since becoming Chairman, I've asked executives what kind of company Toyota really is—we said 'mobility company,' but I encouraged them to think without giving definitive answers. Recently, I believe Toyota has always been a company that creates what the era demands and needs. With shareholders' support, we'll explore together what a 'mobility company' means, presenting our work and asking if it's useful for society, adapting to the times. Please continue supporting us.
This applause is encouragement! Thank you. Chairman Sato will work while looking at the entire automotive industry for its development. I'll strengthen the corporate constitution and realize Toyota's sustainable growth. VP Nakajima will support through the product division, VP Miyazaki through regional operations, and I, Akio Toyoda, will support them all as Toyota's responsible leader—together as one team working to improve the world. Developing leaders recognized by society is also my role. I ask for your long-term support and understanding of Toyota's future.
Please look forward to Toyota's future, and I ask for your continued support from a long-term shareholder perspective. That concludes my response. Thank you very much.
