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, promulgated in June 2015. The details of such are discussed in sustainability meetings and reported to the board of directors.
Corporate Governance Organizational Diagram (as of June 21st, 2019)
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 recall issues in 2010. In June 2010, Toyota established the Risk Management Committee (now Sustainability Meeting), and appointed risk managers globally and at each section to comprehensively 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 attacks go beyond accessing confidential information and information systems, now including the networks of systems that control plant facilities and vehicles (such as on-board device systems). The importance of information security is paramount for Toyota.
Toyota takes care to ensure the safety and security of our customers from cyber attack threats. Toyota considers it a social responsibility to protect our customers' property, such as personal information, and is reinforcing its information security through governance and risk management.
In June 2016, TMC and its consolidated subsidiaries together established the Information Security Policy to clarify our basic policy and initiatives.
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 helps to fulfill our duties in corporate social responsibility and ensure compliance. In accordance with basic internal control policies, Toyota promotes creating a framework to adopt and enforce the Code of Conduct as well as other means of human resource development, including training. Toyota has also established consultation hotlines; any concerns that are reported are carefully addressed to ensure that no potential problem is missed.
The Toyota Code of Conduct (adopted in 1998 and revised in March 2006) outlines the basic mindset that all members of Toyota are expected to adopt to fulfil our social duties. It also shows concrete guidelines for the Guiding Principles at Toyota. A booklet containing the Toyota Code of Conduct is distributed to all employees to put the code into practice at work and in the community.