Toyota Motor Corporation (TMC) which is founded in 28th August 1937 by Sakichi Toyoda (TMC, 2013) is now one of the prevalent automotive manufacturers around the globe by sales of car, designs and produces a varied product arrays that ranges from luxury and sports vehicles to SUVs; trucks, minivans and buses which produce under the firm’s subsidiaries named Daihatsu Motor and Hino Motors. Furthermore,
Toyota also makes automotive parts for self-usage as well as for retailing to others (Yahoo Inc, 2013). Within Toyota’s business portfolio, also consists of non-automobile businesses such as housing in Japan under Toyota Home, providing financial services which operated by Toyota Financial Services Corporation (TFS), e-Toyota business that offer extra value to customers by incorporating IT services with motor vehicle, naval business which develop, manufacture and vend nautical products that ensure cleanliness and safety of the environment, as well as biotechnology and afforestation business which cover the area of agriculture, medical and chemical (TMC, 2012). As of March 31st 2012, the consolidated number of employees working under Toyota is approximately 325905 people all around the world (TMC, 2013) and conducts its business around the globe with 50 manufacturing corporations abroad in 27 countries and regions (Cited by Bloomberg, 2013).
In Malaysia, company engagement in activities such as assembly, marketing and allocation of Toyota vehicles (passenger cars, commercial vehicles also four-wheel drives); along with marketing and distributing Lexus vehicles are done through the joint venture company established in year 1982 among UMW Holdings Bhd and Toyota Motor Corporation as well as Toyota Tsusho Corporation called UMW Toyota Motor Sdn Bhd (UMW, 2008).