Toyota shareholders have voted in favor of all company proposals, including retaining Akio Toyoda as chairman of the board. The specific vote tallies have not been disclosed, but it has been confirmed that the majority supported the company's positions. A shareholder proposal requesting an annual report on Toyota's climate-related lobbying activities was rejected during the annual meeting held at the company's headquarters in Toyota city, central Japan.
The meeting gained attention due to a scandal involving fraudulent certification tests for vehicles, although these actions did not lead to recalls or safety issues. Despite the scandal, Toyota's reputation for quality remains strong, with its production methods being studied globally.
Toyota, known for models like the Prius hybrid and Camry sedan, has been criticized for its approach to climate change. The company has emphasized a 'multi-pathway' strategy for ecological vehicles, focusing on hybrids and hydrogen fuel rather than solely on battery electric vehicles. Toyota aims to achieve carbon neutrality by 2050.
The majority of Toyota's shareholders are Japanese companies, with foreign corporate entities and individual shareholders also holding significant stakes. Last year, Akio Toyoda was re-elected with nearly 85% of the vote, down from 96% in the previous year.
Toyota's profits doubled in the fiscal year ending in March, exceeding projections, with strong vehicle sales and favorable currency exchange rates contributing to its success. Despite recent challenges, Toyota remains the world's top automaker, with sales of 9.4 million vehicles in the last fiscal year.
The company's stock prices, which had tripled over the past five years, have faced a decline amid the recent issues but are still trading at a respectable level. The improper testing practices were not limited to Toyota but also affected other Japanese automakers.
Toyoda emphasized the need for collective efforts to address challenges like carbon neutrality, urging a proactive approach to finding solutions. The company is committed to transparency and environmental initiatives as it navigates through its current challenges.
