New Toyota Pres. Kon Vows to Maintain Development Policy

Toyota, Aichi Pref., June 17 (Jiji Press)–Toyota Motor Corp.’s new president, Kenta Kon, vowed Wednesday to maintain the company’s policy of creating “ever-better cars,” championed by Chairman and former President Akio Toyoda. “We are becoming a company that is able to keep pressing the gas pedal on growth investment without applying the brakes,” Kon, who took office in April, said at an annual general meeting of Toyota shareholders at the leading Japanese automaker’s headquarters in the city of Toyota, Aichi Prefecture, central Japan. “We will work to realize sustainable growth.” The remark came as Toyota faces a challenge to improve its earning power, with its consolidated net profit expected to decline for the third consecutive year in fiscal 2026 through next March. At the meeting, shareholders approved the management’s nominations of six board directors, including Toyoda and Kon. Koji Sato, Kon’s predecessor and now vice chairman of Toyota, stepped down from the board. Asked about a certification fraud scandal that was revealed in 2024, Toyoda said: “Hiding wrongdoing is the biggest problem. Those responsible should take action after admitting to the misconduct.” Regarding Toyota’s strategy of offering a wide range of vehicles, including eco-friendly models, under its multi-pathway strategy, the chairman said the company has “created products meeting the needs of the times.” The meeting was attended by a record 9,040 shareholders, including 1,647 who participated from a remote venue in the Aichi capital of Nagoya. It was the first time that a remote venue was set up outside of the city of Toyota. The annual general shareholder meeting lasted an hour and 34 minutes, 13 minutes shorter than that of the previous year. END [Copyright The Jiji Press, Ltd.]