Toyota 2007 Annual Report Download - page 11

ANNUAL REPORT 2007 9
Building a Platform for Growth
In fiscal 2007, ended March 31, 2007, Toyota posted new records for
net revenues and all income categories for the second year in a row.
At the same time, we increased dividends paid to our shareholders
for the eighth consecutive year. I am particularly pleased that we
were able to increase revenues and earnings despite tougher-than-
usual business conditions in the automotive industry.
I am confident that the global automotive industry has growth
potential. Centered on emerging markets, automotive markets
worldwide are likely to continue to expand in the medium-to-long
term. However, competition is intensifying. We have entered an
era in which companies that do not have the flexibility to respond
precisely to a multitude of changes will not survive. By maintaining
a sense of crisis in that respect, I will adopt a management approach
that balances aggressiveness and prudence.
In the two years since I became Toyota’s president, I have
reasserted the importance of building a solid foundation for sustain-
able growth. Given that the source of our growth is innovation, we will
invest efficiently in research and development to continue building
vehicles that meet customer needs. In securing our foundation, we
intend to steadily tackle three key areas: quality, cost competitiveness,
and personnel training.
Toyota’s tradition and strength stem from carrying out these
clear steps in an honest, steadfast, and uncompromising manner.
Avoiding complacency over recent successes, I am committed to
steadily improving Toyota’s corporate value by continuing to
pursue farsighted innovations and building a solid management
platform. As we pursue that goal, I ask our shareholders for their
continued support.
July 2007
Katsuaki Watanabe, President