Toyota chairman pledges change amid misconduct at affiliates

Member companies lost sight of core values as car industry grew, says Akio Toyoda

20240130 Toyota press conference

Toyota Motor Charman Akio Toyoda answers questions at a news conference on Jan. 30. (Photo by Yuki Nakao)

SAYUMI TAKE, Nikkei staff writer

TOKYO -- Toyota Motor and its group companies will go back to basics in regaining public trust, the automaker's chairman said on Tuesday, as Japan's most valuable company is embroiled in a series of misconduct scandals at its affiliates.

Toyota Motor heads the Toyota Group, which is made up of 16 other companies dealing with different areas of the auto industry, from materials to machine tools and auto parts. The group's governance is being questioned as misconduct at multiple companies became apparent in recent years.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.