Society, economy & sport

Founding of Toyota

28 August 1937

Toyota Motor Corporation was founded on 28 August 1937 by Kiichiro Toyoda as an independent company, after starting as an automobile division of his father Sakichi Toyoda's loom manufacturer, Toyoda Automatic Loom Works. It is based in the city of Toyota, in Aichi Prefecture, Japan. After the Second World War the company developed the Toyota Production System, a method of reducing waste and improving quality, which became known as lean manufacturing and was studied around the world. Toyota grew into one of the largest carmakers, with models like the Corolla and Camry, and pioneered hybrid vehicles with the Prius, launched in 1997. It became a leading global automaker, rivaled only by a few other manufacturers.

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