Toyota recognized as the 2011 Corporation of the Year for its $1 billion investment, development and advocacy in minority businesses across the United States
ERLANGER, KENTUCKY, (November 3, 2011) — Toyota has been named the Corporation of the Year by the National Minority Supplier Development Council (NMSDC) for its continued commitment to minority suppliers and diverse communities. The award – which was presented earlier this week during the NMSDC Annual Conference in Atlanta, Ga. – recognizes the company's leadership around supplier diversity that impacts all areas of its business operations.
"Toyota is honored to receive this award from NSMDC for our efforts to support minority business inclusion and to partner with the organization for more than 20 years," said Shigeki Terashi, president and COO of Toyota Motor Engineering & Manufacturing North America, Inc. "Our company's foundation – The Toyota Way – is built on continuous improvement and respect for people and this award reinforces our desire to find ways to strengthen and improve our processes, especially through supplier diversity."
This is the second time Toyota was awarded this honor, selected by a NMSDC national committee comprised of minority business owners, for its commitment to maintaining a supplier base which reflects the diversity of its customers and the diversity of the team members who build and sell Toyota vehicles in North America.
"This recognition is reserved for corporations that fully embrace the value that minority suppliers bring to the corporate supply chain," said NMSDC President Joset Wright. "Toyota's commitment to supplier diversity and minority supplier development is firmly embedded in the corporate culture. Its comprehensive, world-class supplier diversity process is worthy of replication."
Despite economic fluctuations in the automotive industry, Toyota has maintained its MBE supplier base, as well as a $1 billion commitment to partnering with minority-owned businesses. Through its operations, workforce and supply base, the company is dedicated to reflecting the many different cultures, backgrounds and outlooks of its customers and the communities in which they do business.
"I take great pride in my more than 10 years business partnership with Toyota," said Berto Guerra, chairman and CEO of Avanzar Interior Technologies. "Toyota has provided my company the support and opportunity to help ensure the growth vitality of my business and the community of San Antonio."
Over the past several years, Toyota has been recognized as a leader in diversity and inclusion through various awards from Black Enterprise, DiversityInc, the Human Rights Campaign and Hispanic Business. Toyota was the co-winner of the Corporation of the Year award from the National Minority Supplier Development Council in 2004. The company has also been recognized as Corporation of the Year by the following NMSDC regional councils:
Toyota (NYSE:TM) established operations in North America in 1957 and currently operates 14 manufacturing plants, including one under construction in Mississippi. There are more than 1,800 Toyota, Lexus and Scion dealerships in North America which sold more than 2 million vehicles in 2010. Toyota directly employs more than 35,000 in North America and its investment here is currently valued at more than $23 billion, including sales and manufacturing operations, research and development, financial services and design. Toyota's annual purchasing of parts, materials, goods and services from North American suppliers totals nearly $25 billion. Toyota currently produces 12 vehicles in North America, including the Avalon, Camry, Corolla, Highlander, Matrix, RAV4, Sienna, Sequoia, Tacoma, Tundra, Venza and the Lexus RX 350. For more information about Toyota, visit www.toyota.com or www.toyotanewsroom.com.
About The National Minority Supplier Development Council
The National Minority Supplier Development Council, one of the country's leading business membership organizations, provides a direct link between corporate America and minorityowned businesses. It was chartered in 1972 to provide increased procurement and business opportunities for minority businesses of all sizes. www.nmsdc.org
Toyota Motor Manufacturing, Kentucky, Inc.