Toyota 2015 Annual Report Download - page 99

Toyota expects to contribute ¥40,190 million domestically and ¥24,238 million overseas to its pension plans
in fiscal 2017.
Yen in millions
Total
Amounts
Committed
Amount of Commitment Expiration Per Period
Less than
1 year
1to
3 years
3to
5 years
5 years
and after
Commercial Commitments (note 24):
Maximum potential exposure to guarantees
given in the ordinary course of
business ........................... 2,349,624 577,994 986,287 551,405 233,938
Total Commercial Commitments ..... 2,349,624 577,994 986,287 551,405 233,938
5.G SAFE HARBOR
All information that is not historical in nature disclosed under “— Off-Balance Sheet Arrangements” and
“— Tabular Disclosure of Contractual Obligations” is deemed to be a forward-looking statement. See
“Cautionary Statement Concerning Forward-Looking Statements” for additional information.
ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES
6.A DIRECTORS AND SENIOR MANAGEMENT
In March 2011, Toyota unveiled its “Toyota Global Vision.” In order to realize the Toyota Global Vision,
Toyota implemented a new management organization highlighted by a more streamlined board of directors and a
reduced number of layers in the executive decision-making structure.
In April 2013, Toyota implemented organizational changes in order to further increase the speed of
decision-making through clarification of operations and earnings responsibility. Specifically, Toyota’s
automotive business was split into four business units. These business units are “Lexus International,” which
covers the Lexus business, “Toyota No. 1,” which covers North America, Europe and Japan, “Toyota No. 2,”
which covers China, Asia & Middle East, East Asia & Oceania, Africa and Latin America & Caribbean and
“Unit Center,” which covers all unit-related operations. Toyota’s executive vice presidents are assigned to each
operation and each is responsible for the operations and earnings of the respective business unit. Furthermore, in
order to achieve sustainable growth through the continuous development of “even-better cars” that exceed
customer expectations around the world, and to realize the Toyota Global Vision, the TNGA Planning Division,
an organization directly under Toyota’s top management, was established in order to rapidly promote the
implementation of the TNGA. In April 2014, the Strategic Top Executive Meeting Office was established to set
policies concerning medium to long term strategies and business direction, the fundamentals of corporate
strategy. In April 2015, as a result of a review of the geographic oversight of operations, the Africa region was
transferred from Business Unit Toyota No. 2 to Business Unit Toyota No. 1.
Toyota believes it is crucial for it to be led by members of the board of directors and senior management
who deeply understand, and can effectively implement, Toyota’s strengths — the monozukuri spirit of
conscientious manufacturing and the genchi genbutsu principle of placing emphasis on on-site operations with a
go-and-see attitude for continued improvement and problem solving. At the 109th Ordinary General
Shareholders’ Meeting held in June 2013, three outside members of the board of directors were appointed in
order to further reflect the opinions of those from outside the company in management’s decision-making
process. Toyota has six audit & supervisory board members, three of whom are outside audit & supervisory
board members. At the 111th Ordinary General Shareholders’ Meeting held in June 2015, in order to be prepared
in the event Toyota lacks the number of audit & supervisory board members required by law, one substitute
audit & supervisory board member was appointed pursuant to Article 329, Paragraph 3 of the Companies Act, as
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