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Toyota Announces New Minority Business Spending Target


November 2006
 Filed under: TOYOTA CORPORATE Car News | TOYOTA CORPORATE Headlines
CINCINNATI, Ohio, Nov. 29 /PRNewswire-FirstCall/ -- Toyota today announced a new minority business spending target at its 17th annual Opportunity Exchange conference and trade fair. Toyota's U.S. operations will target ten percent of the company's overall U.S. purchases of parts, goods and services with minority businesses.
"Toyota believes it is imperative to do business with minority enterprises," said Jim Press, president of Toyota Motor North America, Inc. "Not only does it help our bottom line, but it more closely reflects the diversity of our customers and employees across the United States."

Opportunity Exchange is designed to provide minority business enterprises (MBEs) across the nation with the chance to network and develop relationships with more than 275 of Toyota's direct suppliers. Since the first Opportunity Exchange in 1990, the event has grown from 100 participants and $350,000 in resulting MBE contracts to more than 1,800 participants and more than $100 million in new contracts through last year.

"Currently, more than seven percent of Toyota's US purchasing is done with Minority Enterprises," said Osamu "Simon" Nagata, vice president of Purchasing at Toyota Motor Engineering & Manufacturing North America, Inc. "Ten percent represents an aggressive target that will challenge Toyota and offer us a great opportunity."

Toyota (NYSE:TM) established operations in North America in 1957. By 2008, Toyota will have the annual capacity to build about 2 million cars and trucks in 15 plants across North America. There are more than 1,700 Toyota, Lexus and Scion dealerships in North America, which sell more than 2.5 million vehicles a year. Toyota directly employs nearly 40,000 people in North America. Toyota's investment in North America is valued at more than $17.6 billion.

For more information about Toyota's Supplier Diversity Program or for more information on how to because a supplier to Toyota, visit http://www.toyotasupplier.com/ .

Source: Toyota Motor Engineering & Manufacturing North America, Inc.

In Spanish:

Toyota Anuncia Nuevo Objetivo de Gastos para Empresas Minoritarias

CINCINNATI, Ohio, 29 de noviembre /PR Newswire/ -- Toyota anunció hoy un nuevo objetivo de gastos para las empresas minoritarias en su 17a conferencia anual y feria comercial de Opportunity Exchange (Intercambio de Oportunidades). Las operaciones de Toyota en EUA dirigirán el 10 por ciento de las compras generales de repuestos, productos y servicios a las empresas minoritarias.

"Toyota considera imperativo hacer negocios con las empresas minoritarias", dijo Jim Press, presidente de Toyota Motor North America, Inc. "Además de ayudar a nuestro resultado final, refleja más de cerca la diversidad de nuestros clientes y empleados a través de Estados Unidos".

Opportunity Exchange es un foro diseñado para ofrecer a las empresas minoritarias (MBEs) a través de la nación la oportunidad de interactuar y desarrollar relaciones con más de 275 proveedores directos de Toyota. Desde el primer Opportunity Exchange en 1990, el evento creció de 100 participantes y $350,000 en contratos resultantes para las MBEs a más de 1,800 participantes y más de $100 millón en nuevos contratos durante el año pasado.

"Después de sobrepasar nuestro objetivo de gastos del 7.5 por ciento en 2004, un año antes de lo proyectado, Toyota espera trabajar en este próximo desafío", dijo Osamu "Simon" Nagata, vicepresidente de adquisiciones de Toyota Motor Engineering & Manufacturing North America, Inc. "El diez por ciento representa un objetivo agresivo que será un reto para Toyota y nos ofrece una gran oportunidad".

Toyota (NYSE:TM) estableció operaciones en Norteamérica en 1957. Para 2008, Toyota tendrá la capacidad anual de fabricar unos 2 millones de autos y camiones en 15 plantas a través del país. Existen más de 1,700 concesionarios de Toyota, Lexus y Scion en Norteamérica, que venden más de 2.5 millones de vehículos al año. Toyota emplea directamente cerca de 40,000 personas en América del Norte. La inversión de Toyota en Norteamérica está valorada en más de $17.6 mil millones.

Para obtener mayor información acerca del Programa de Diversidad de Proveedores de Toyota o sobre cómo convertirse en un proveedor de Toyota, visite http://www.toyotasupplier.com/ .

Source: Toyota Motor Engineering & Manufacturing North America, Inc.

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