Toyota regards sustainable growth and the stable, long-term enhancement of corporate value as fundamental management priorities. Building positive relationships with all stakeholders including shareholders, customers, business partners, local communities, and employees, and consistently providing products that deliver customer satisfaction are key to such. To this end, Toyota constantly seeks to enhance corporate governance.
Toyota complies with the general principles of the Corporate Governance Code. The details of such are discussed in sustainability meetings and reported to the board of directors.
Corporate Governance Organizational Diagram
The Corporate Governance Report details the execution of duties and supervision, the board of directors and its system, the Audit & Supervisory Board, remuneration for the board of directors and Audit & Supervisory Board members, and an analysis and evaluations of the board of directors' effectiveness.
Toyota has been working to reinforce its risk management structure since the series of recall issues that took place in 2010. Having appointed risk managers globally and in each region and section, Toyota has been making global efforts to prevent and mitigate the impact of risks that could arise in business activities.
Initiatives in Information Security
With cyber attacks becoming more sophisticated and complicated, the targets of cyber attack are no longer limited to confidential information and information systems, but also include the networks of systems that control plant facilities and vehicles (such as on-board device systems). The importance of information security is increasing for Toyota.
Toyota is committed to ensuring the safety and security of our customers from cyber attack threats and we consider it our social responsibility to protect our customers' personal information. Therefore, we are reinforcing information security by governance and risk management based on the Information Security Policy, formulated to clearly define our basic policy and attitude regarding information security, with the goal of taking necessary actions together with our subsidiaries.
The Guiding Principles at Toyota state that Toyota shall "honor the language and spirit of the law of every country and region, and undertake open and fair business activities to be a strong corporate citizen of the world." Toyota believes that adhering to this principle is to fulfill corporate social responsibility and ensure compliance.
The Toyota Code of Conduct outlines the basic frame of mind that all members of Toyota should adopt. It shows concrete guidelines for the Guiding Principles at Toyota to carry out social responsibilities. This booklet is distributed to all our employees.
We also hold Sustainability Meetings to report and discuss the expectations of our stakeholders and our responses to various social issues including compliance.
Initiatives for Taxation
Toyota formulated a taxation policy in September 2020, and disseminated it to all of the subsidiaries to promulgate Toyota's stance on tax payment and taxation policy in an easily understandable manner and promote our stakeholder's understanding on it.
Going forward, Toyota will endeavor to practice tax-related duties of high quality by maintaining compliance on taxation.