Latest news with #AkioToyoda
Mint
11 hours ago
- Business
- Mint
NTT Secures Backing for $16.3 Billion Deal to Take Over AI Arm
Bloomberg Updated 20 Jun 2025, 10:27 AM IST (Bloomberg) -- Nippon Telegraph and Telephone Corp. said it has secured enough bids to buy NTT Data Group Corp., with the deal worth ¥2.37 trillion ($16.3 billion) expected to boost its AI ambitions and simplify the corporate structure. The Japanese company will start the settlement on June 26, it said in a statement Friday. NTT, which owns about 58% of NTT Data, had last month offered ¥4,000 for every share it doesn't already own in the company with plans to take it private. The takeover of NTT Data, one of the world's largest data center operators, would put artificial intelligence at the heart of NTT group, expanding the global reach of its various units. About one-third owned by the government, NTT competes with KDDI Corp. and SoftBank Corp. in the growing AI race, at a time Tokyo is pushing companies to develop a homegrown AI platform to vie with the likes of OpenAI and China's DeepSeek. The move also comes as Japanese conglomerates are under pressure from regulators to streamline their corporate structures. In February, the Tokyo Stock Exchange cautioned companies with parent-affiliate listings to better protect minority shareholders' interests, stepping up its long-burning campaign to reduce such arrangements. Since then, NEC Corp. has acquired unit NEC Networks & System Integration Corp., while Bloomberg News reported Toyota Motor Corp. Chairman Akio Toyoda's plan to buy Toyota Industries Corp. The moves have fueled speculation that more firms may follow suit. NTT previously acquired its cash-generating wireless carrier NTT Docomo Inc. in 2020. More stories like this are available on
Forbes
2 days ago
- Automotive
- Forbes
The Message Behind Toyota's Big Hybrid Achievement In Indiana
It has already been 30 years since Toyota debuted a hybrid concept car at the Tokyo Motor Show; testing following a year later. The very first Prius launched in Japan at the end of 1997, and the model became a symbol of fuel efficiency into the new millennium. Today, the words 'hybrid' and 'Toyota' are tightly intertwined. Listen and you'll hear the spaceship sounds of a Toyota hybrid rolling down the road with its distinct tone. Seventeen of the brand's models are hybrids, including the popular RAV4 (offered only as a hybrid for 2026 models). Its hybrids have been performing very well for Toyota. 'Toyota's stubborn focus on hybrids over EVs is part of a broader challenge by the world's biggest automaker to the prevailing industry and regulatory orthodoxy that all cars will be electric in the near future,' reported Reuters in August 2024. Indeed, Toyota chairman (and grandson of Toyota founder Kiichiro Toyoda) Akio Toyoda has been often criticized by the media for the brand's slow approach to all-electric vehicles. Then the market for EVs started showing signs of slowing down, and the current administration's determination to eliminate the federal tax credit for EVs started to alter the trajectory of the battery-electric vehicle uptake. As it turns out, Toyota's approach to hybrids may have been the smartest move for them. In January and February, Toyota's U.S. sales rose 20 percent, powered by an 83 percent rise in sales of its hybrids and plug-in models. 'We're not saying EVs are not a good solution to carbon emissions,' Jack Hollis, executive vice president of Toyota North America told the New York Times in 2024. 'They are. They're just not the only solution, and a lot of our customers have been telling us they want choice — hybrids, plug-ins, and EVs.' Toyota Sienna hybrid on the line in Indiana. Toyota At Toyota's Princeton, Indiana plant on the southwest side of the state, the automaker's one millionth hybrid just rolled off the line on June 12. The facility employs 7,650 Toyota employees and they have been building the all-hybrid Sienna at the Indiana site since 2003. Going forward, the Princeton plant will prepare for assembly of an all-new, three row battery electric SUV. Toyota says Sienna sales were up more than 95 percent year-over-year in May. In total, its electrified lineup accounted for nearly half of Toyota's sales volume that month, indicting a solid appetite for fuel-sipping vehicles. The Sienna gets an impressive 36 mph combined rating from the EPA, and it's a comfortable family hauler for short and long trips alike. With current tariff fluctuations in the auto market giving automakers figurative whiplash, Toyota's Indiana plant is representative of the strong presence the brand has in the U.S. Including its new battery plant in North Carolina, Toyota has 11 manufacturing plants in the U.S. and a massive campus at its North American headquarters in Plano, Texas. As America figures out where it wants to be in terms of BEV charging infrastructure, cars, and energy, Toyota is hedging its bets wisely.
Japan Today
2 days ago
- Automotive
- Japan Today
Toyota chairman's pay hits record ¥1.9 billion despite scandals
Toyota Motor Corp said Wednesday its chairman received a pay package worth around 1.95 billion yen for fiscal 2024, the largest in the company's history and up 20 percent from the previous year, despite a reduction tied to a series of quality scandals. Akio Toyoda still received record-high compensation for the fourth straight year, reflecting the Japanese automaker's strong performance. "Compensations for the chairman, vice chairman and president were reduced to reflect their responsibility on the issues," Toyota said, referring to the scandals involving the firm and its subsidiaries. President Koji Sato was paid 826 million yen, while former Vice Chairman Shigeru Hayakawa, who resigned on June 12 following an annual shareholders' meeting, received 365 million yen, according to an annual securities report. Companies in Japan are required to disclose information on executives who receive 100 million yen or more in annual compensation. Following the scandals, the automaker also said in its report that it would work to prevent a recurrence. © KYODO
The Mainichi
2 days ago
- Automotive
- The Mainichi
Toyota chairman's pay hits record 1.9 billion yen despite scandals
NAGOYA (Kyodo) -- Toyota Motor Corp. said Wednesday its chairman received a pay package worth around 1.95 billion yen ($13.45 million) for fiscal 2024, the largest in the company's history and up 20 percent from the previous year, despite a reduction tied to a series of quality scandals. Akio Toyoda still received record-high compensation for the fourth straight year, reflecting the Japanese automaker's strong performance. "Compensations for the chairman, vice chairman and president were reduced to reflect their responsibility on the issues," Toyota said, referring to the scandals involving the firm and its subsidiaries. President Koji Sato was paid 826 million yen, while former Vice Chairman Shigeru Hayakawa, who resigned on June 12 following an annual shareholders' meeting, received 365 million yen, according to an annual securities report. Companies in Japan are required to disclose information on executives who receive 100 million yen or more in annual compensation. Following the scandals, the automaker also said in its report that it would work to prevent a recurrence.
2 days ago
- Automotive
Toyota Chairman Akio Toyoda Paid 1.9 B. Yen in FY 2024
News from Japan Economy Jun 18, 2025 21:17 (JST) Nagoya, June 18 (Jiji Press)--Toyota Motor Corp. Chairman Akio Toyoda's executive compensation totaled 1,949 million yen in fiscal 2024, the highest ever for a Toyota executive, according to the automaker's securities report published Wednesday. Toyoda's annual pay grew by around 20 pct from 1,622 million yen the previous year. President Koji Sato's pay rose to 826 million yen from 623 million yen. The company said that it increased the chairman's pay as a result of discussions on compensation levels that align with his roles and responsibilities. In the year that ended this March, Toyota's consolidated sales reached a record high, but its operating and net profits both shrank for the first time in two years, due in part to a testing fraud scandal at subsidiary Hino Motors Ltd. END [Copyright The Jiji Press, Ltd.] Jiji Press
