2.0 COMPANY OVERVIEW 2.1 Company Background Toyota Motor Corporation was founded on August 28, 1937 by Kichiro Toyoda. His decision to bring Toyoda Loom Works into the automotive manufacturing business creates Toyota Motor Corporation, the largest automobile manufacturer in the world. Toyota Motor Corporation Limited. (TMC) was founded as a separate company from the Toyoda Automobile Loom company, a leading manufacturer of weaving machines. Sakichi Toyoda, known as the king of investors, is the labor chief of Toyota Automobile Loom. In 1950, the auto giant faced its one and only strike. This event, however, gave Toyota an important philosophy, applied to its management and work system, which helped Toyota achieve mutual growth and success in both domestic and foreign markets. Today, this philosophy is very significant for the structure of Toyota. Toyota's production system was improved in the late 1950s, creating the "Toyota Production System". This system has become the key factor in reducing inventories and defects in the factories of Toyota and its suppliers. It also strengthened Toyota's entire business worldwide. In 1947 it launched its first small car, the "Toyopet". Toyota began operations outside Japan in 1959 in Brazil and continued to develop a network of overseas factories. Toyota celebrated its 60th anniversary in August 1997. It believes that its domestic production can provide customers with the productions they need, giving it stability and longevity. development of the term. It also has development facilities and a global design and research network, consisting of markets in Japan, Europe and North America. Toyota is ranked eighth in the 2007 World Top 500 Companies Toyota Mot...... middle of paper .. ....g industry in Malaysia. Sendirian Automotive Industries Berhad (AISB) is the leading OEM manufacturer of exhaust systems and reinforced instrument panels. AISB is committed to research and development (R&D) and a culture of excellence. The Japanese Sankei industry entered into a permanent research and development partnership with AISB in 1985. Additionally, AISB has applied Toyota Production System (TPS) initiatives to improve efficiency. The AISB is also associating with 7 TA partners; mainly global exhaust manufacturers from Japan and the United States for the technical development of the exhaust system. Toyota Boshoku UMW Sdn. Bhd. (TBU), is a joint venture company with Toyota Boshoku Corporation, Japan. Using Just-in-Time (JIT) method, TBU focuses on manufacturing and assembling high-quality and interior parts, economical car seats, door covers for all Toyota cars and Hino commercial vehicles assembled by ASSB.