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Vol. 51 February 2021

Printed in Japan in 2021

2-1, Toyoda-cho, Kariya-shi, Aichi-ken 448-8671, JapanTelephone: +81-(0)566-22-2511Facsimile: +81-(0)566-27-5650www.toyota-industries.com

TOYOTA INDUSTRIES GROUP MAGAZINE

February2021

Vol.51

TOYOTA INDUSTRIES GROUP MAGAZINE

EDITOR-IN-CHIEFEisuke Ueno

PRODUCTIONFBI Communications, Inc.

Entries of the Photo Contest

Photo Theme: Happiness

TALK 2021 Vol. 51TALK 2021 Vol. 51 0201

Introduction

More than a month has passed since we welcomed in the new year in 2021. Last year was a time of turmoil in which the COVID-19 pandemic had a major impact on our lives, society, and economies. Even now, the coronavirus is still sweeping across the globe and more contagious variants have been identified. This means that each of us must make our utmost efforts to prevent further infections and maintain our health until effective vaccines and treatments become widely available.

Under these trying conditions, I am pleased to report that the business results of the TICO Group have been picking up since the last half of FY2021. We are achieving these results thanks mainly to each and every member of the TICO Group fulfilling his or her respective role by flexibly responding to the dramatically evolving circumstances in each country and to customer needs. I would like to express my appreciation to everyone for their hard work.

Work with Your Fellow Associates to Identify What We Should Change and What Should Remain Unchanged

As I just noted, 2020 was a year with a multitude of changes following the outbreak of COVID-19. That said, I should point out that

change is nothing new and has been occurring with breathtaking speed long before the coronavirus. In this sense, the current pandemic has served as an accelerant. The times and environments are always in a state of flux. This should be regarded as absolutely normal. The real issue then is whether we are responding accurately to these changes. The greatest difficultly in doing so is that some things must be changed yet other things must be left unchanged. But how can we distinguish between these?

From reading various books, it seems that ancient and modern Eastern and Western societies have the similar teaching that wisdom can be used to make such distinctions. If so, then how exactly do we acquire such wisdom? Even if one tries his or her best, probably nobody but a handful of specially gifted people will ever reach the point of acquiring such wisdom. Fortunately, the TICO Group has numerous associates who work together closely. This means that even if we as individual persons are unable to keep up in terms of wisdom and abilities, we can probably somehow succeed if we all help each other. On this note, I ask that you engage in candid discussions with open hearts and ponder seriously about matters, and that leaders decide and implement these matters. Sometimes we will succeed, while at other times we will fail. But we have to keep trying. I feel there is no other way than to continuously repeat this process.

Harmony between Humans and Technology Are the Watchwords for the Near Future

Recently, I went to a lecture featuring a prominent guest scholar. The topic was about society in the near future where AI and autonomous driving come into practical use. The discourse was upbeat as the scholar proclaimed, “As AI evolves, even though the bulk of our work will be taken over by AI, people will then be free to play active roles in such fields as the arts, science, and culture.” He also stated that “When autonomous driving becomes a reality, highways can be divided into high-speed lanes and normal lanes. If we oversleep and are rushed for time, for example, we can pay an extra fee to use high-speed lanes.”

However, looking at this scholar’s assumptions from a less-sanguine perspective, I believe the number of people actually capable of utilizing their abilities in the field of arts is likely to be

limited. What’s more, it wouldn’t surprise me if the high-speed lanes become lanes exclusively for the wealthy. I also thought about the danger that this situation could ultimately lead to further inequalities in society. As envisioned by him, the advance of technology should in theory lead to the greater happiness of people. However, history has taught us time and again that this is not always the case.

Alfred Nobel, a prominent Swedish chemist, inventor, and businessperson, deeply regretted that his invention of dynamite had come to be widely used as a tool of war. In his will, Nobel called for the creation of the Nobel Prize utilizing his own heritage.

Figure 1 shows the changes in TICO’s past and present working environments in Japan.

Although there are differences by country, this shows changes in the working environment of the general manufacturing industry. I believe that your workplaces have something in common.

Our environment has changed drastically due to advances in technology, innovations in the workplace, and changes in society. Communication has become easier regardless of location or time. Support for work through automation and IT on the manufacturing floor has increased efficiency and reduced the physical burden on workers. Conversely, being connected digitally at all times can be a mental strain. Blindly implementing automation on the manufacturing floor can also result in over-reliance on machines that ends up jeopardizing the safety of workers. To the present, efforts have been made to establish rules and improve morals in step with such advances in technology. I think that the humans who handle these have become more proficient and maintained a good balance. With COVID-19 as a catalyst, I sense that the advance of technology is now accelerating rapidly and that this balance is beginning to crumble. I don’t know how AI and science and

technology will progress in the future. However, greater harmony between human proficiency and the evolution of technology will probably become even more essential.

Looking at the Future from a Medium- to Long-Term Perspective to Contribute to the Happiness of Numerous People

There is no doubt that people in many countries are currently being forced into inconvenient and less enjoyable lives. Some people are even facing dire financial situations. But take a look back at the long history of humans. You all know there were times when circumstances were even more bleak. Our parents or grandparents witnessed tragic wars that engulfed the entire world as people experienced turbulent times that were incomparably harsher than during the COVID-19 pandemic. Although we face the serious issue of widening inequalities, the total amount of material affluence today is increasing. Convenience is also rising in step with advances in IT. I think our role is to further increase this affluence by improving

productivity and to contribute to the happiness of as many people as possible.

Looking back, TICO was founded from the Textile Machinery Business. Subsequently, TICO’s main business has evolved with the times to encompass the Automobile Business and the Materials Handling Equipment Business. Likewise, as shown in Figure 2 BT Industries (currently TMHE) engaged in the importing and sales of lift trucks at the time of its founding. Today, it manufactures and sells lift trucks while working together with Vanderlande to strengthen its Logistics Solutions Business. Vanderlande itself initially engaged in the modification and manufacture of textile machinery. Uster, which manufactures and sells yarn quality inspection equipment that is essential in the textile machinery industry, initially manufactured and sold electric alarms and telephone equipment. In this way, although the products and services we offer change with the times, our role is to continually contribute to enriching lifestyles and promoting a compassionate society. I am convinced this approach is something we must never change. We are living in times where it is difficult to see what lies ahead. Nevertheless, let’s look at the future from a medium- to long-term perspective, rather than from a short-term viewpoint, and think about and implement the best ways we can contribute to the happiness of many people.

(On a personal note, I have visited Uster in Switzerland on numerous occasions because I was directly involved in the process of merging and integrating that company into our Group. With the COVID-19 pandemic, I’ve had more time to stay at home and greater opportunities to watch movies. The other day I watched the Dutch movie De Zaak Menten (English title: The Body Collector) and was surprised to see the city of Uster in this film. The city appeared briefly in the movie as a refuge for Nazi criminals. This gave me a strange feeling to say the least. I wonder if anyone has any idea why the city of Uster was chosen for this scene.)

In Conclusion

TALK magazine gives me the opportunity to have a glimpse at everyone’s activities throughout the world, so I naturally read each issue with keen interest. I particularly look forward to seeing the Photo Contest section, which occasionally surprises me. “Pachinko Restorations,” which appeared in Vol. 50, was one such surprise. I never imagined one of our associates in the United States was restoring old antique Japanese pachinko machines and using them as pop art! I play cutting-edge, digital pachinko machines once in a while, so I was really surprised to see these older models.

In addition, we receive many memorable photos from associates that introduce their work, life, hobbies, family, and spectacular landscapes. Seeing these photos always makes me grateful for the happy twist of fate that these people came to join the TICO Group. I also occasionally think about what each of them is doing now. You can find emotion, imagination, wonder, and something appealing in each photo. Looking at these pictures reminds me of the rich diversity found throughout the world. I also marvel at the unique individuality of each member working in the TICO Group as well as their families. At the same time, I believe that ultimately human beings fundamentally share the same values, feel the same things, and are all connected. That’s probably why I empathize so much with these photographs.

Web meeting held among Group companies in China, in which some members participated from home, enabling a variety of materials to be shared instantly at anytime and anywhere.

In some assembly lines of the Engine Division, work procedures are displayed sequentially on a monitor.

Battery mounting process of the RAV4 PHEV. TICO developed a device for mounting an onboard battery from under the floor of a vehicle.

QC circle convention in 1969. Presentations were made by handwritten slides using an OHP, so information was available only on the spot and taking notes was essential.

Engine assembly line in 1955. Whether it was because the specifications were standardized or there were only a small number of components, an instruction manual doesn’t appear in this photo.

Vehicle engine installation process in 1976. The engine is installed and adjusted manually.

Then Now

President’s Message for 2021

Looking at the Future from a Medium- to Long-Term PerspectiveAkira OnishiPresidentToyota Industries Corporation

Alfred Nobel

Figure 1 Changes in the TICO Working Environment (Then and Now)

TALK 2021 Vol. 51TALK 2021 Vol. 51 0201

Introduction

More than a month has passed since we welcomed in the new year in 2021. Last year was a time of turmoil in which the COVID-19 pandemic had a major impact on our lives, society, and economies. Even now, the coronavirus is still sweeping across the globe and more contagious variants have been identified. This means that each of us must make our utmost efforts to prevent further infections and maintain our health until effective vaccines and treatments become widely available.

Under these trying conditions, I am pleased to report that the business results of the TICO Group have been picking up since the last half of FY2021. We are achieving these results thanks mainly to each and every member of the TICO Group fulfilling his or her respective role by flexibly responding to the dramatically evolving circumstances in each country and to customer needs. I would like to express my appreciation to everyone for their hard work.

Work with Your Fellow Associates to Identify What We Should Change and What Should Remain Unchanged

As I just noted, 2020 was a year with a multitude of changes following the outbreak of COVID-19. That said, I should point out that

change is nothing new and has been occurring with breathtaking speed long before the coronavirus. In this sense, the current pandemic has served as an accelerant. The times and environments are always in a state of flux. This should be regarded as absolutely normal. The real issue then is whether we are responding accurately to these changes. The greatest difficultly in doing so is that some things must be changed yet other things must be left unchanged. But how can we distinguish between these?

From reading various books, it seems that ancient and modern Eastern and Western societies have the similar teaching that wisdom can be used to make such distinctions. If so, then how exactly do we acquire such wisdom? Even if one tries his or her best, probably nobody but a handful of specially gifted people will ever reach the point of acquiring such wisdom. Fortunately, the TICO Group has numerous associates who work together closely. This means that even if we as individual persons are unable to keep up in terms of wisdom and abilities, we can probably somehow succeed if we all help each other. On this note, I ask that you engage in candid discussions with open hearts and ponder seriously about matters, and that leaders decide and implement these matters. Sometimes we will succeed, while at other times we will fail. But we have to keep trying. I feel there is no other way than to continuously repeat this process.

Harmony between Humans and Technology Are the Watchwords for the Near Future

Recently, I went to a lecture featuring a prominent guest scholar. The topic was about society in the near future where AI and autonomous driving come into practical use. The discourse was upbeat as the scholar proclaimed, “As AI evolves, even though the bulk of our work will be taken over by AI, people will then be free to play active roles in such fields as the arts, science, and culture.” He also stated that “When autonomous driving becomes a reality, highways can be divided into high-speed lanes and normal lanes. If we oversleep and are rushed for time, for example, we can pay an extra fee to use high-speed lanes.”

However, looking at this scholar’s assumptions from a less-sanguine perspective, I believe the number of people actually capable of utilizing their abilities in the field of arts is likely to be

limited. What’s more, it wouldn’t surprise me if the high-speed lanes become lanes exclusively for the wealthy. I also thought about the danger that this situation could ultimately lead to further inequalities in society. As envisioned by him, the advance of technology should in theory lead to the greater happiness of people. However, history has taught us time and again that this is not always the case.

Alfred Nobel, a prominent Swedish chemist, inventor, and businessperson, deeply regretted that his invention of dynamite had come to be widely used as a tool of war. In his will, Nobel called for the creation of the Nobel Prize utilizing his own heritage.

Figure 1 shows the changes in TICO’s past and present working environments in Japan.

Although there are differences by country, this shows changes in the working environment of the general manufacturing industry. I believe that your workplaces have something in common.

Our environment has changed drastically due to advances in technology, innovations in the workplace, and changes in society. Communication has become easier regardless of location or time. Support for work through automation and IT on the manufacturing floor has increased efficiency and reduced the physical burden on workers. Conversely, being connected digitally at all times can be a mental strain. Blindly implementing automation on the manufacturing floor can also result in over-reliance on machines that ends up jeopardizing the safety of workers. To the present, efforts have been made to establish rules and improve morals in step with such advances in technology. I think that the humans who handle these have become more proficient and maintained a good balance. With COVID-19 as a catalyst, I sense that the advance of technology is now accelerating rapidly and that this balance is beginning to crumble. I don’t know how AI and science and

technology will progress in the future. However, greater harmony between human proficiency and the evolution of technology will probably become even more essential.

Looking at the Future from a Medium- to Long-Term Perspective to Contribute to the Happiness of Numerous People

There is no doubt that people in many countries are currently being forced into inconvenient and less enjoyable lives. Some people are even facing dire financial situations. But take a look back at the long history of humans. You all know there were times when circumstances were even more bleak. Our parents or grandparents witnessed tragic wars that engulfed the entire world as people experienced turbulent times that were incomparably harsher than during the COVID-19 pandemic. Although we face the serious issue of widening inequalities, the total amount of material affluence today is increasing. Convenience is also rising in step with advances in IT. I think our role is to further increase this affluence by improving

productivity and to contribute to the happiness of as many people as possible.

Looking back, TICO was founded from the Textile Machinery Business. Subsequently, TICO’s main business has evolved with the times to encompass the Automobile Business and the Materials Handling Equipment Business. Likewise, as shown in Figure 2 BT Industries (currently TMHE) engaged in the importing and sales of lift trucks at the time of its founding. Today, it manufactures and sells lift trucks while working together with Vanderlande to strengthen its Logistics Solutions Business. Vanderlande itself initially engaged in the modification and manufacture of textile machinery. Uster, which manufactures and sells yarn quality inspection equipment that is essential in the textile machinery industry, initially manufactured and sold electric alarms and telephone equipment. In this way, although the products and services we offer change with the times, our role is to continually contribute to enriching lifestyles and promoting a compassionate society. I am convinced this approach is something we must never change. We are living in times where it is difficult to see what lies ahead. Nevertheless, let’s look at the future from a medium- to long-term perspective, rather than from a short-term viewpoint, and think about and implement the best ways we can contribute to the happiness of many people.

(On a personal note, I have visited Uster in Switzerland on numerous occasions because I was directly involved in the process of merging and integrating that company into our Group. With the COVID-19 pandemic, I’ve had more time to stay at home and greater opportunities to watch movies. The other day I watched the Dutch movie De Zaak Menten (English title: The Body Collector) and was surprised to see the city of Uster in this film. The city appeared briefly in the movie as a refuge for Nazi criminals. This gave me a strange feeling to say the least. I wonder if anyone has any idea why the city of Uster was chosen for this scene.)

In Conclusion

TALK magazine gives me the opportunity to have a glimpse at everyone’s activities throughout the world, so I naturally read each issue with keen interest. I particularly look forward to seeing the Photo Contest section, which occasionally surprises me. “Pachinko Restorations,” which appeared in Vol. 50, was one such surprise. I never imagined one of our associates in the United States was restoring old antique Japanese pachinko machines and using them as pop art! I play cutting-edge, digital pachinko machines once in a while, so I was really surprised to see these older models.

In addition, we receive many memorable photos from associates that introduce their work, life, hobbies, family, and spectacular landscapes. Seeing these photos always makes me grateful for the happy twist of fate that these people came to join the TICO Group. I also occasionally think about what each of them is doing now. You can find emotion, imagination, wonder, and something appealing in each photo. Looking at these pictures reminds me of the rich diversity found throughout the world. I also marvel at the unique individuality of each member working in the TICO Group as well as their families. At the same time, I believe that ultimately human beings fundamentally share the same values, feel the same things, and are all connected. That’s probably why I empathize so much with these photographs.

Web meeting held among Group companies in China, in which some members participated from home, enabling a variety of materials to be shared instantly at anytime and anywhere.

In some assembly lines of the Engine Division, work procedures are displayed sequentially on a monitor.

Battery mounting process of the RAV4 PHEV. TICO developed a device for mounting an onboard battery from under the floor of a vehicle.

QC circle convention in 1969. Presentations were made by handwritten slides using an OHP, so information was available only on the spot and taking notes was essential.

Engine assembly line in 1955. Whether it was because the specifications were standardized or there were only a small number of components, an instruction manual doesn’t appear in this photo.

Vehicle engine installation process in 1976. The engine is installed and adjusted manually.

Then Now

President’s Message for 2021

Looking at the Future from a Medium- to Long-Term PerspectiveAkira OnishiPresidentToyota Industries Corporation

Alfred Nobel

Figure 1 Changes in the TICO Working Environment (Then and Now)

TALK 2021 Vol. 51TALK 2021 Vol. 51 0403

Introduction

More than a month has passed since we welcomed in the new year in 2021. Last year was a time of turmoil in which the COVID-19 pandemic had a major impact on our lives, society, and economies. Even now, the coronavirus is still sweeping across the globe and more contagious variants have been identified. This means that each of us must make our utmost efforts to prevent further infections and maintain our health until effective vaccines and treatments become widely available.

Under these trying conditions, I am pleased to report that the business results of the TICO Group have been picking up since the last half of FY2021. We are achieving these results thanks mainly to each and every member of the TICO Group fulfilling his or her respective role by flexibly responding to the dramatically evolving circumstances in each country and to customer needs. I would like to express my appreciation to everyone for their hard work.

Work with Your Fellow Associates to Identify What We Should Change and What Should Remain Unchanged

As I just noted, 2020 was a year with a multitude of changes following the outbreak of COVID-19. That said, I should point out that

change is nothing new and has been occurring with breathtaking speed long before the coronavirus. In this sense, the current pandemic has served as an accelerant. The times and environments are always in a state of flux. This should be regarded as absolutely normal. The real issue then is whether we are responding accurately to these changes. The greatest difficultly in doing so is that some things must be changed yet other things must be left unchanged. But how can we distinguish between these?

From reading various books, it seems that ancient and modern Eastern and Western societies have the similar teaching that wisdom can be used to make such distinctions. If so, then how exactly do we acquire such wisdom? Even if one tries his or her best, probably nobody but a handful of specially gifted people will ever reach the point of acquiring such wisdom. Fortunately, the TICO Group has numerous associates who work together closely. This means that even if we as individual persons are unable to keep up in terms of wisdom and abilities, we can probably somehow succeed if we all help each other. On this note, I ask that you engage in candid discussions with open hearts and ponder seriously about matters, and that leaders decide and implement these matters. Sometimes we will succeed, while at other times we will fail. But we have to keep trying. I feel there is no other way than to continuously repeat this process.

Harmony between Humans and Technology Are the Watchwords for the Near Future

Recently, I went to a lecture featuring a prominent guest scholar. The topic was about society in the near future where AI and autonomous driving come into practical use. The discourse was upbeat as the scholar proclaimed, “As AI evolves, even though the bulk of our work will be taken over by AI, people will then be free to play active roles in such fields as the arts, science, and culture.” He also stated that “When autonomous driving becomes a reality, highways can be divided into high-speed lanes and normal lanes. If we oversleep and are rushed for time, for example, we can pay an extra fee to use high-speed lanes.”

However, looking at this scholar’s assumptions from a less-sanguine perspective, I believe the number of people actually capable of utilizing their abilities in the field of arts is likely to be

limited. What’s more, it wouldn’t surprise me if the high-speed lanes become lanes exclusively for the wealthy. I also thought about the danger that this situation could ultimately lead to further inequalities in society. As envisioned by him, the advance of technology should in theory lead to the greater happiness of people. However, history has taught us time and again that this is not always the case.

Alfred Nobel, a prominent Swedish chemist, inventor, and businessperson, deeply regretted that his invention of dynamite had come to be widely used as a tool of war. In his will, Nobel called for the creation of the Nobel Prize utilizing his own heritage.

Figure 1 shows the changes in TICO’s past and present working environments in Japan.

Although there are differences by country, this shows changes in the working environment of the general manufacturing industry. I believe that your workplaces have something in common.

Our environment has changed drastically due to advances in technology, innovations in the workplace, and changes in society. Communication has become easier regardless of location or time. Support for work through automation and IT on the manufacturing floor has increased efficiency and reduced the physical burden on workers. Conversely, being connected digitally at all times can be a mental strain. Blindly implementing automation on the manufacturing floor can also result in over-reliance on machines that ends up jeopardizing the safety of workers. To the present, efforts have been made to establish rules and improve morals in step with such advances in technology. I think that the humans who handle these have become more proficient and maintained a good balance. With COVID-19 as a catalyst, I sense that the advance of technology is now accelerating rapidly and that this balance is beginning to crumble. I don’t know how AI and science and

technology will progress in the future. However, greater harmony between human proficiency and the evolution of technology will probably become even more essential.

Looking at the Future from a Medium- to Long-Term Perspective to Contribute to the Happiness of Numerous People

There is no doubt that people in many countries are currently being forced into inconvenient and less enjoyable lives. Some people are even facing dire financial situations. But take a look back at the long history of humans. You all know there were times when circumstances were even more bleak. Our parents or grandparents witnessed tragic wars that engulfed the entire world as people experienced turbulent times that were incomparably harsher than during the COVID-19 pandemic. Although we face the serious issue of widening inequalities, the total amount of material affluence today is increasing. Convenience is also rising in step with advances in IT. I think our role is to further increase this affluence by improving

productivity and to contribute to the happiness of as many people as possible.

Looking back, TICO was founded from the Textile Machinery Business. Subsequently, TICO’s main business has evolved with the times to encompass the Automobile Business and the Materials Handling Equipment Business. Likewise, as shown in Figure 2 BT Industries (currently TMHE) engaged in the importing and sales of lift trucks at the time of its founding. Today, it manufactures and sells lift trucks while working together with Vanderlande to strengthen its Logistics Solutions Business. Vanderlande itself initially engaged in the modification and manufacture of textile machinery. Uster, which manufactures and sells yarn quality inspection equipment that is essential in the textile machinery industry, initially manufactured and sold electric alarms and telephone equipment. In this way, although the products and services we offer change with the times, our role is to continually contribute to enriching lifestyles and promoting a compassionate society. I am convinced this approach is something we must never change. We are living in times where it is difficult to see what lies ahead. Nevertheless, let’s look at the future from a medium- to long-term perspective, rather than from a short-term viewpoint, and think about and implement the best ways we can contribute to the happiness of many people.

(On a personal note, I have visited Uster in Switzerland on numerous occasions because I was directly involved in the process of merging and integrating that company into our Group. With the COVID-19 pandemic, I’ve had more time to stay at home and greater opportunities to watch movies. The other day I watched the Dutch movie De Zaak Menten (English title: The Body Collector) and was surprised to see the city of Uster in this film. The city appeared briefly in the movie as a refuge for Nazi criminals. This gave me a strange feeling to say the least. I wonder if anyone has any idea why the city of Uster was chosen for this scene.)

In Conclusion

TALK magazine gives me the opportunity to have a glimpse at everyone’s activities throughout the world, so I naturally read each issue with keen interest. I particularly look forward to seeing the Photo Contest section, which occasionally surprises me. “Pachinko Restorations,” which appeared in Vol. 50, was one such surprise. I never imagined one of our associates in the United States was restoring old antique Japanese pachinko machines and using them as pop art! I play cutting-edge, digital pachinko machines once in a while, so I was really surprised to see these older models.

In addition, we receive many memorable photos from associates that introduce their work, life, hobbies, family, and spectacular landscapes. Seeing these photos always makes me grateful for the happy twist of fate that these people came to join the TICO Group. I also occasionally think about what each of them is doing now. You can find emotion, imagination, wonder, and something appealing in each photo. Looking at these pictures reminds me of the rich diversity found throughout the world. I also marvel at the unique individuality of each member working in the TICO Group as well as their families. At the same time, I believe that ultimately human beings fundamentally share the same values, feel the same things, and are all connected. That’s probably why I empathize so much with these photographs.

Figure 2 Origins of Some TICO Group Companies

BT Industries was founded in 1946 outside Stockholm but soon moved to Mjölby where today’s Swedish warehouse truck manufacturing and the TMHE headquarters are located. Initially, the company sold products from other manufacturers but soon started to produce its first hydraulic hand pallet trucks and won the patent for the standard Europallet.

Toyota Material Handling Europe (former BT Industries) The origins of Vanderlande lie in the

Dutch town of Veghel, where the company was established in 1949. It was initially refurbished and later produced machines for the textile industry before moving into the manufacture of hoisting apparatus, cranes, and conveyor belts for bulky materials and barrels of oil. A significant development came in 1963 when Vanderlande began to develop and build customized transport systems, which marked the start of a successful global organization.

VanderlandeThe origins of Uster date back to 1875. It was initially a company that developed and manufactured electrical products such as electric alarms, telephones, and telephone exchanges. Later, the company changed owners and moved into the textile industry to become the global leader for quality management systems.

Uster Technologies AG

“Pachinko Restorations” by Mark Faiman, TMH, U.S.A.

TALK 2021 Vol. 51TALK 2021 Vol. 51 0403

Introduction

More than a month has passed since we welcomed in the new year in 2021. Last year was a time of turmoil in which the COVID-19 pandemic had a major impact on our lives, society, and economies. Even now, the coronavirus is still sweeping across the globe and more contagious variants have been identified. This means that each of us must make our utmost efforts to prevent further infections and maintain our health until effective vaccines and treatments become widely available.

Under these trying conditions, I am pleased to report that the business results of the TICO Group have been picking up since the last half of FY2021. We are achieving these results thanks mainly to each and every member of the TICO Group fulfilling his or her respective role by flexibly responding to the dramatically evolving circumstances in each country and to customer needs. I would like to express my appreciation to everyone for their hard work.

Work with Your Fellow Associates to Identify What We Should Change and What Should Remain Unchanged

As I just noted, 2020 was a year with a multitude of changes following the outbreak of COVID-19. That said, I should point out that

change is nothing new and has been occurring with breathtaking speed long before the coronavirus. In this sense, the current pandemic has served as an accelerant. The times and environments are always in a state of flux. This should be regarded as absolutely normal. The real issue then is whether we are responding accurately to these changes. The greatest difficultly in doing so is that some things must be changed yet other things must be left unchanged. But how can we distinguish between these?

From reading various books, it seems that ancient and modern Eastern and Western societies have the similar teaching that wisdom can be used to make such distinctions. If so, then how exactly do we acquire such wisdom? Even if one tries his or her best, probably nobody but a handful of specially gifted people will ever reach the point of acquiring such wisdom. Fortunately, the TICO Group has numerous associates who work together closely. This means that even if we as individual persons are unable to keep up in terms of wisdom and abilities, we can probably somehow succeed if we all help each other. On this note, I ask that you engage in candid discussions with open hearts and ponder seriously about matters, and that leaders decide and implement these matters. Sometimes we will succeed, while at other times we will fail. But we have to keep trying. I feel there is no other way than to continuously repeat this process.

Harmony between Humans and Technology Are the Watchwords for the Near Future

Recently, I went to a lecture featuring a prominent guest scholar. The topic was about society in the near future where AI and autonomous driving come into practical use. The discourse was upbeat as the scholar proclaimed, “As AI evolves, even though the bulk of our work will be taken over by AI, people will then be free to play active roles in such fields as the arts, science, and culture.” He also stated that “When autonomous driving becomes a reality, highways can be divided into high-speed lanes and normal lanes. If we oversleep and are rushed for time, for example, we can pay an extra fee to use high-speed lanes.”

However, looking at this scholar’s assumptions from a less-sanguine perspective, I believe the number of people actually capable of utilizing their abilities in the field of arts is likely to be

limited. What’s more, it wouldn’t surprise me if the high-speed lanes become lanes exclusively for the wealthy. I also thought about the danger that this situation could ultimately lead to further inequalities in society. As envisioned by him, the advance of technology should in theory lead to the greater happiness of people. However, history has taught us time and again that this is not always the case.

Alfred Nobel, a prominent Swedish chemist, inventor, and businessperson, deeply regretted that his invention of dynamite had come to be widely used as a tool of war. In his will, Nobel called for the creation of the Nobel Prize utilizing his own heritage.

Figure 1 shows the changes in TICO’s past and present working environments in Japan.

Although there are differences by country, this shows changes in the working environment of the general manufacturing industry. I believe that your workplaces have something in common.

Our environment has changed drastically due to advances in technology, innovations in the workplace, and changes in society. Communication has become easier regardless of location or time. Support for work through automation and IT on the manufacturing floor has increased efficiency and reduced the physical burden on workers. Conversely, being connected digitally at all times can be a mental strain. Blindly implementing automation on the manufacturing floor can also result in over-reliance on machines that ends up jeopardizing the safety of workers. To the present, efforts have been made to establish rules and improve morals in step with such advances in technology. I think that the humans who handle these have become more proficient and maintained a good balance. With COVID-19 as a catalyst, I sense that the advance of technology is now accelerating rapidly and that this balance is beginning to crumble. I don’t know how AI and science and

technology will progress in the future. However, greater harmony between human proficiency and the evolution of technology will probably become even more essential.

Looking at the Future from a Medium- to Long-Term Perspective to Contribute to the Happiness of Numerous People

There is no doubt that people in many countries are currently being forced into inconvenient and less enjoyable lives. Some people are even facing dire financial situations. But take a look back at the long history of humans. You all know there were times when circumstances were even more bleak. Our parents or grandparents witnessed tragic wars that engulfed the entire world as people experienced turbulent times that were incomparably harsher than during the COVID-19 pandemic. Although we face the serious issue of widening inequalities, the total amount of material affluence today is increasing. Convenience is also rising in step with advances in IT. I think our role is to further increase this affluence by improving

productivity and to contribute to the happiness of as many people as possible.

Looking back, TICO was founded from the Textile Machinery Business. Subsequently, TICO’s main business has evolved with the times to encompass the Automobile Business and the Materials Handling Equipment Business. Likewise, as shown in Figure 2 BT Industries (currently TMHE) engaged in the importing and sales of lift trucks at the time of its founding. Today, it manufactures and sells lift trucks while working together with Vanderlande to strengthen its Logistics Solutions Business. Vanderlande itself initially engaged in the modification and manufacture of textile machinery. Uster, which manufactures and sells yarn quality inspection equipment that is essential in the textile machinery industry, initially manufactured and sold electric alarms and telephone equipment. In this way, although the products and services we offer change with the times, our role is to continually contribute to enriching lifestyles and promoting a compassionate society. I am convinced this approach is something we must never change. We are living in times where it is difficult to see what lies ahead. Nevertheless, let’s look at the future from a medium- to long-term perspective, rather than from a short-term viewpoint, and think about and implement the best ways we can contribute to the happiness of many people.

(On a personal note, I have visited Uster in Switzerland on numerous occasions because I was directly involved in the process of merging and integrating that company into our Group. With the COVID-19 pandemic, I’ve had more time to stay at home and greater opportunities to watch movies. The other day I watched the Dutch movie De Zaak Menten (English title: The Body Collector) and was surprised to see the city of Uster in this film. The city appeared briefly in the movie as a refuge for Nazi criminals. This gave me a strange feeling to say the least. I wonder if anyone has any idea why the city of Uster was chosen for this scene.)

In Conclusion

TALK magazine gives me the opportunity to have a glimpse at everyone’s activities throughout the world, so I naturally read each issue with keen interest. I particularly look forward to seeing the Photo Contest section, which occasionally surprises me. “Pachinko Restorations,” which appeared in Vol. 50, was one such surprise. I never imagined one of our associates in the United States was restoring old antique Japanese pachinko machines and using them as pop art! I play cutting-edge, digital pachinko machines once in a while, so I was really surprised to see these older models.

In addition, we receive many memorable photos from associates that introduce their work, life, hobbies, family, and spectacular landscapes. Seeing these photos always makes me grateful for the happy twist of fate that these people came to join the TICO Group. I also occasionally think about what each of them is doing now. You can find emotion, imagination, wonder, and something appealing in each photo. Looking at these pictures reminds me of the rich diversity found throughout the world. I also marvel at the unique individuality of each member working in the TICO Group as well as their families. At the same time, I believe that ultimately human beings fundamentally share the same values, feel the same things, and are all connected. That’s probably why I empathize so much with these photographs.

Figure 2 Origins of Some TICO Group Companies

BT Industries was founded in 1946 outside Stockholm but soon moved to Mjölby where today’s Swedish warehouse truck manufacturing and the TMHE headquarters are located. Initially, the company sold products from other manufacturers but soon started to produce its first hydraulic hand pallet trucks and won the patent for the standard Europallet.

Toyota Material Handling Europe (former BT Industries) The origins of Vanderlande lie in the

Dutch town of Veghel, where the company was established in 1949. It was initially refurbished and later produced machines for the textile industry before moving into the manufacture of hoisting apparatus, cranes, and conveyor belts for bulky materials and barrels of oil. A significant development came in 1963 when Vanderlande began to develop and build customized transport systems, which marked the start of a successful global organization.

VanderlandeThe origins of Uster date back to 1875. It was initially a company that developed and manufactured electrical products such as electric alarms, telephones, and telephone exchanges. Later, the company changed owners and moved into the textile industry to become the global leader for quality management systems.

Uster Technologies AG

“Pachinko Restorations” by Mark Faiman, TMH, U.S.A.

0605 TALK 2021 Vol. 51TALK 2021 Vol. 51

Toyota Industries Compressor Parts America, Co., U.S.A.November 9, 2020

Tailift Qingdao, ChinaNovember 11, 2020

Vanderlande, the NetherlandsNovember 26, 2020

NewsMakers Materials Handling EquipmentDevelops, manufactures, and markets industrial vehicles, such as lift trucks, and other equipment and systems related to the transportation, storage, and sorting of goods.

CorporateTICO Group Headquarter Functions

AutomobileDevelops and manufactures automobiles and automobile-related products, such as vehicles, engines, car air-conditioning compressors, and car electronics components.

Textile MachineryDevelops, manufactures, and markets products such as spinning machinery and weaving machinery since TICO was founded.

Group photo at the grand opening ceremony

From left: Director of Technical Service and Parts Department Michael Church and Purchasing Clerk Stacy Altman

CDP Climate Change 2020 “A List” logo CDP Water Security 2020 “A List” logo

Business CSR Activities

Toyota Textile Machinery, Inc., U.S.A.December 1, 2020

Assembles and Donates Bikes for Kids

Sales activities livestreamed online

Ceremony to congratulate Patrick Schäfer

The current COVID-19 pandemic and difficulty of in-person communication has prompted Tailift Qingdao to adapt to expand sales, sales activities, and sales channels by using the Internet. From managing directors to the overseas sales team, domestic sales team, spare parts team, and service team, the organization has conducted multiple online sales livestreaming efforts since early 2020. The overseas team participated in the China Import and Export Fair (Canton Fair) by livestreaming twice. Likewise, the domestic sales team, spare parts team, and service team participated in social media livestreaming. During the online streaming, the teams introduced Tailift Qingdao products and took online orders.

TTM purchased 11 bicycles for children. Its associates volunteered to assemble the bikes, which were then donated to several local non-profit organizations (NPOs). These NPOs have identified low-income children in need of bicycles and will deliver the bicycles to them.

Expanding Sales by LivestreamingBy Venus Chan

By Mark D. Bullock

Awards

A new TICA plant started production of automotive AC inverters for the Toyota Tacoma. This marked the first time the Electronics Division has produced electronics products at its own plants outside Japan. With the COVID-19 pandemic preventing business trips from Japan, the team relied on web cameras to prepare for production. The line-off ceremony was also held in a similar format, attended by TICA President Ken Suito and TACG President Hiroto Ikeno.

Begins Production of AC InvertersBy Hiroaki Nonoyama

TD Deutsche Klimakompressor GmbH, GermanyNovember 17, 2020

TDDK President Kazushige Murao congratulated TDDK trainee Patrick Schäfer for his excellent results on his apprenticeship final exams. Schäfer received the top exam results among participants in the State of Saxony (where TDDK is located). At the same time, TDDK was recognized as an Excellent Company for Professional Training for its work supervising his apprenticeship and helping him down the first steps on his career path and toward this success. TDDK’s team of trainers has been supervising professional apprenticeships for more than 15 years and is very proud to support trainees like Schäfer in various technical fields.

TDDK Recognized for Excellence in Professional Training

By Janette Bergmann

Events

Toyota Industries Management (China) Co., Ltd., ChinaOctober 26, 2020

The TICO Group China Safety and Environment Liaison Meeting was held online to heighten safety and environmental management practices at participating locations. Safety and environment managers from TIK, TACK, YST, Taillift, Zhejiang Aichi, TIMC as well as the Safety Department and PE & Environment Department from Japan took part. The first part of the meeting shared the latest safety and environmental trends in China and focused on how to proceed with future safety and environmental initiatives in the region. The second section shared best practices and safety and environmental initiative issues at sites with a view to resolving them.

TICO Group China Safety and Environment Liaison Meeting

By Kazutaka Narukawa

TICO announced that it was selected as an “A List” company in a CDP* survey on climate change and water security. In the results released December 8, 2020, the UK-based international environmental NGO gave TICO high marks for initiatives including activities to reduce greenhouse gas emissions, mitigate climate change, and conserve water resources. This is the third time that TICO has been selected as an “A List” company in the “Climate Change” category, making the grade each year since 2018, and the second time the company has been selected in the “Water Security” category, the last time being in 2018.

By Plant Engineering & Environment Dept.

Toyota Industries Corporation, JapanDecember 8, 2020

Receives Highest Rating in CDP Survey

PAX MX2 airport passenger checkpoint solution

Vanderlande launched its new and innovative PAX MX2 airport passenger checkpoint solution. The dual-lane screening concept improves performance, reduces the required footprint, and optimizes resources to help airport operators optimize their equipment and expenditures in an environment where new and advanced technologies such as CT screening are making their way to checkpoint areas. The dual-lane design delivers the efficiency of two conventional automated screening lanes of the same length by allowing passengers to divest and collect belongings on either side of the screening machine. The system increases throughput in these areas to allow CT scanners to operate at full capacity while using minimal floor space and enabling efficient use of staff.

By Katja Jansen

Vanderlande, the NetherlandsNovember 10, 2020

Introduces PAX MX2 to Optimize Security Screening at Airports

Screenshot of the meeting

AIRTRAX Pocket

Vanderlande has installed its advanced AIRTRAX Pocket at the Tilburg warehouse of de Bijenkorf*1, making it the first large-scale system of its kind in the Netherlands. The omni-channel solution is now fully operational. The pocket sorter supports three areas on site: B2C orders, B2B store orders, and e-commerce returns in the storage area. Vanderlande’s AIRTRAX Pocket is an innovative and reliable solution for transporting, sequencing, and storing goods. There are approximately 48,000 pockets within the Tilburg system. The solution offers de Bijenkorf a loading capacity of 8,000 pockets per hour. The pocket sorter will allow de Bijenkorf to handle around 95% of its 210,000 SKUs*2.

By Katja Jansen

Delivers Innovative AIRTRAX Pocket

*1 De BijenkorfThe most renowned chain of high-end department stores in the Netherlands

*2 Stock-keeping unitA number by which a retail merchant identifies information including the brand, style, and size of merchandise.

*CDP is an international NGO established in 2000 in the UK that aims to promote the reduction of greenhouse gas emissions, conservation of water resource, and protection of forests by companies and governments.

0605 TALK 2021 Vol. 51TALK 2021 Vol. 51

Toyota Industries Compressor Parts America, Co., U.S.A.November 9, 2020

Tailift Qingdao, ChinaNovember 11, 2020

Vanderlande, the NetherlandsNovember 26, 2020

NewsMakers Materials Handling EquipmentDevelops, manufactures, and markets industrial vehicles, such as lift trucks, and other equipment and systems related to the transportation, storage, and sorting of goods.

CorporateTICO Group Headquarter Functions

AutomobileDevelops and manufactures automobiles and automobile-related products, such as vehicles, engines, car air-conditioning compressors, and car electronics components.

Textile MachineryDevelops, manufactures, and markets products such as spinning machinery and weaving machinery since TICO was founded.

Group photo at the grand opening ceremony

From left: Director of Technical Service and Parts Department Michael Church and Purchasing Clerk Stacy Altman

CDP Climate Change 2020 “A List” logo CDP Water Security 2020 “A List” logo

Business CSR Activities

Toyota Textile Machinery, Inc., U.S.A.December 1, 2020

Assembles and Donates Bikes for Kids

Sales activities livestreamed online

Ceremony to congratulate Patrick Schäfer

The current COVID-19 pandemic and difficulty of in-person communication has prompted Tailift Qingdao to adapt to expand sales, sales activities, and sales channels by using the Internet. From managing directors to the overseas sales team, domestic sales team, spare parts team, and service team, the organization has conducted multiple online sales livestreaming efforts since early 2020. The overseas team participated in the China Import and Export Fair (Canton Fair) by livestreaming twice. Likewise, the domestic sales team, spare parts team, and service team participated in social media livestreaming. During the online streaming, the teams introduced Tailift Qingdao products and took online orders.

TTM purchased 11 bicycles for children. Its associates volunteered to assemble the bikes, which were then donated to several local non-profit organizations (NPOs). These NPOs have identified low-income children in need of bicycles and will deliver the bicycles to them.

Expanding Sales by LivestreamingBy Venus Chan

By Mark D. Bullock

Awards

A new TICA plant started production of automotive AC inverters for the Toyota Tacoma. This marked the first time the Electronics Division has produced electronics products at its own plants outside Japan. With the COVID-19 pandemic preventing business trips from Japan, the team relied on web cameras to prepare for production. The line-off ceremony was also held in a similar format, attended by TICA President Ken Suito and TACG President Hiroto Ikeno.

Begins Production of AC InvertersBy Hiroaki Nonoyama

TD Deutsche Klimakompressor GmbH, GermanyNovember 17, 2020

TDDK President Kazushige Murao congratulated TDDK trainee Patrick Schäfer for his excellent results on his apprenticeship final exams. Schäfer received the top exam results among participants in the State of Saxony (where TDDK is located). At the same time, TDDK was recognized as an Excellent Company for Professional Training for its work supervising his apprenticeship and helping him down the first steps on his career path and toward this success. TDDK’s team of trainers has been supervising professional apprenticeships for more than 15 years and is very proud to support trainees like Schäfer in various technical fields.

TDDK Recognized for Excellence in Professional Training

By Janette Bergmann

Events

Toyota Industries Management (China) Co., Ltd., ChinaOctober 26, 2020

The TICO Group China Safety and Environment Liaison Meeting was held online to heighten safety and environmental management practices at participating locations. Safety and environment managers from TIK, TACK, YST, Taillift, Zhejiang Aichi, TIMC as well as the Safety Department and PE & Environment Department from Japan took part. The first part of the meeting shared the latest safety and environmental trends in China and focused on how to proceed with future safety and environmental initiatives in the region. The second section shared best practices and safety and environmental initiative issues at sites with a view to resolving them.

TICO Group China Safety and Environment Liaison Meeting

By Kazutaka Narukawa

TICO announced that it was selected as an “A List” company in a CDP* survey on climate change and water security. In the results released December 8, 2020, the UK-based international environmental NGO gave TICO high marks for initiatives including activities to reduce greenhouse gas emissions, mitigate climate change, and conserve water resources. This is the third time that TICO has been selected as an “A List” company in the “Climate Change” category, making the grade each year since 2018, and the second time the company has been selected in the “Water Security” category, the last time being in 2018.

By Plant Engineering & Environment Dept.

Toyota Industries Corporation, JapanDecember 8, 2020

Receives Highest Rating in CDP Survey

PAX MX2 airport passenger checkpoint solution

Vanderlande launched its new and innovative PAX MX2 airport passenger checkpoint solution. The dual-lane screening concept improves performance, reduces the required footprint, and optimizes resources to help airport operators optimize their equipment and expenditures in an environment where new and advanced technologies such as CT screening are making their way to checkpoint areas. The dual-lane design delivers the efficiency of two conventional automated screening lanes of the same length by allowing passengers to divest and collect belongings on either side of the screening machine. The system increases throughput in these areas to allow CT scanners to operate at full capacity while using minimal floor space and enabling efficient use of staff.

By Katja Jansen

Vanderlande, the NetherlandsNovember 10, 2020

Introduces PAX MX2 to Optimize Security Screening at Airports

Screenshot of the meeting

AIRTRAX Pocket

Vanderlande has installed its advanced AIRTRAX Pocket at the Tilburg warehouse of de Bijenkorf*1, making it the first large-scale system of its kind in the Netherlands. The omni-channel solution is now fully operational. The pocket sorter supports three areas on site: B2C orders, B2B store orders, and e-commerce returns in the storage area. Vanderlande’s AIRTRAX Pocket is an innovative and reliable solution for transporting, sequencing, and storing goods. There are approximately 48,000 pockets within the Tilburg system. The solution offers de Bijenkorf a loading capacity of 8,000 pockets per hour. The pocket sorter will allow de Bijenkorf to handle around 95% of its 210,000 SKUs*2.

By Katja Jansen

Delivers Innovative AIRTRAX Pocket

*1 De BijenkorfThe most renowned chain of high-end department stores in the Netherlands

*2 Stock-keeping unitA number by which a retail merchant identifies information including the brand, style, and size of merchandise.

*CDP is an international NGO established in 2000 in the UK that aims to promote the reduction of greenhouse gas emissions, conservation of water resource, and protection of forests by companies and governments.

0807 TALK 2021 Vol. 51TALK 2021 Vol. 51

NewsMakers

Participants learned how to detect fraudulent activities.

TINA Internal Audit held an online training on fraud concepts and prevention for Toyota Material Handling Midwest (TMHMw). Selected team leaders of the company and executive team members including TMHMw President Chris Frazee, the CFO, and the vice presidents participated in the virtual training. TINA Internal Audit Senior Manager Alexie De Jesus led the fraud awareness training. Topics included the highlights of the Association of Certified Fraud Examiners (ACFE) fraud study in the 2020 Report to the Nation, knowing fraud perpetrators, identifying weaknesses and red flags, the fraud triangle, fraud detection, and internal controls. The training also presented actual incidents of fraud.

Holds Fraud Training for Leadership Team and Managers

By Alexie De Jesus

Group photo

The TMHM Plant in the city of Artur Nogueira, São Paulo, Brazil produced its 10,000th lift truck. Employees celebrated the achievement and took a commemorative group photo. Since it opened in October 2013, the plant has played a key role in streamlining and expanding business operations in Brazil. TMHM associates will continue to work together to produce great lift trucks that are loved by customers.

Achieves Cumulative Production of 10,000 Units

By Sandro Gianello

Toyota Material Handling Mercosur Indústria e Comércio de Equipamentos Ltda, BrazilNovember 16, 2020

News Closer Look

Toyota’s FCEV MiraiThe world’s first mass-produced fuel cell electric vehicle (FCEV) debuted in Japan in 2014 under the name Mirai and underwent a full model change in December 2020. An FCEV is a type of electric-powered vehicle that generates electricity through a chemical reaction that uses hydrogen from a fuel tank and oxygen from the atmosphere. The vehicle has zero emissions, a short refueling time of about three minutes, and a long driving range (850 km/528 miles). The model name “Mirai” means “future” in Japanese.

Mirai Employs TICO TechnologyTICO has developed and produced products for FCEVs starting with the first Mirai by using compression technology created in the development of compressors for car air conditioners and turbochargers for engines.

TICO developed and produced a fuel cell (FC) air compressor that sucks and compresses the air (oxygen) essential for power generation and sends it to the FC for the first model of the Mirai. The FC air compressor TICO developed for the new model is 24% more efficient, 45% smaller, and 35% lighter.

FC Air Compressor

Fuel cell unit. The new fuel cell system and hydrogen tank layout have been revised to achieve both greater power and a longer driving range.

Polyelectrolytemembrane

Flow ofelectrons

FC stack (electricity generator)

Take in, compress, and send air (oxygen) to FC stack

Air Compressor

Hydrogen Circulation Pump

Circulate unreacted hydrogen back to FC stack

H2OO2

H2

H2O H2OPositive electrode

Negativeelectrode

H2OWater

H2Hydrogen

O2Oxygen

Electricitygeneration

TICO technology was adopted for the hydrogen circulation pump, which recovers hydrogen remaining after the chemical reaction in the FC and sends it to the FC for power generation. This model is 32% smaller and 41% lighter than the previous model.

Hydrogen Circulation Pump

Toyota Industries North America, Inc., U.S.A.December 18, 2020

TICO Technology Features in Second Generation Mirai

H+ H+ H+ H+ H+

e-e-e-e-

H+

Net sales

Operating profit

Profit before income taxes

Profit attributable to owners of the parent

A Net sales decreased JPY 100.8 billion to JPY 1,523.6 billion compared with the same period of the previous �scal year, while operating pro�t declined JPY 21.9 billion to JPY 79.1 billion.

B Third quarter (October 1 to December 31, 2020) net sales and operating pro�t both outperformed those in the same period of the previous �scal year. Although the COVID-19-induced slowdown of the global economy contributed to decreases in sales and pro�ts, both recorded steady recoveries.

C The forecast for net sales and operating pro�t for the full �scal year has been revised upward to JPY 2,100.0 billion (up JPY 100.0 billion from prior announcement) and JPY 110.0 billion (up JPY 25.0 billion).

FY2021

1st half(1Q+2Q)

957.0

30.2

65.2

48.1

8.9

0.3

0.6

0.4

3Q

Total(April 1 -

December 31, 2020)

Change vs FY2020 FY2021 Forecast(Apr. 1, 2020 - Mar. 31, 2021)

1st half(1Q+2Q) 3Q Current plan Previous plan

(Oct 29, 2020)

Total(April 1 -

December 31)

566.5

48.9

79.6

61.7

5.5

0.4

0.8

0.6

1,523.6

79.1

144.8

109.8

14.4

0.7

1.4

1.0

2,100.0

110.0

175.0

135.0

19.8

1.0

1.7

1.3

2,000.0

85.0

140.0

105.0

18.9

0.8

1.3

1.0

-145.9

-41.3

-42.8

-34.1

-1.4

-0.4

-0.4

-0.3

(-13.2%)

(-57.8%)

(-39.7%)

(-41.5%)

45.0

19.5

17.4

14.7

0.4

0.2

0.2

0.1

(8.6%)

(66.2%)

(28.0%)

(31.2%)

-100.8

-21.9

-25.4

-19.5

-1.0

-0.2

-0.2

-0.2

(-6.2%)

(-21.7%)

(-14.9%)

(-15.1%)

A AB C

TICO Group Consolidated Financial Results for Third Quarter of Fiscal Year 2021 USD amounts have been translated from the Japanese yen using

the average exchange rate during the fiscal year for your reference.

How to read the figures

JPY billion USD billion

0807 TALK 2021 Vol. 51TALK 2021 Vol. 51

NewsMakers

Participants learned how to detect fraudulent activities.

TINA Internal Audit held an online training on fraud concepts and prevention for Toyota Material Handling Midwest (TMHMw). Selected team leaders of the company and executive team members including TMHMw President Chris Frazee, the CFO, and the vice presidents participated in the virtual training. TINA Internal Audit Senior Manager Alexie De Jesus led the fraud awareness training. Topics included the highlights of the Association of Certified Fraud Examiners (ACFE) fraud study in the 2020 Report to the Nation, knowing fraud perpetrators, identifying weaknesses and red flags, the fraud triangle, fraud detection, and internal controls. The training also presented actual incidents of fraud.

Holds Fraud Training for Leadership Team and Managers

By Alexie De Jesus

Group photo

The TMHM Plant in the city of Artur Nogueira, São Paulo, Brazil produced its 10,000th lift truck. Employees celebrated the achievement and took a commemorative group photo. Since it opened in October 2013, the plant has played a key role in streamlining and expanding business operations in Brazil. TMHM associates will continue to work together to produce great lift trucks that are loved by customers.

Achieves Cumulative Production of 10,000 Units

By Sandro Gianello

Toyota Material Handling Mercosur Indústria e Comércio de Equipamentos Ltda, BrazilNovember 16, 2020

News Closer Look

Toyota’s FCEV MiraiThe world’s first mass-produced fuel cell electric vehicle (FCEV) debuted in Japan in 2014 under the name Mirai and underwent a full model change in December 2020. An FCEV is a type of electric-powered vehicle that generates electricity through a chemical reaction that uses hydrogen from a fuel tank and oxygen from the atmosphere. The vehicle has zero emissions, a short refueling time of about three minutes, and a long driving range (850 km/528 miles). The model name “Mirai” means “future” in Japanese.

Mirai Employs TICO TechnologyTICO has developed and produced products for FCEVs starting with the first Mirai by using compression technology created in the development of compressors for car air conditioners and turbochargers for engines.

TICO developed and produced a fuel cell (FC) air compressor that sucks and compresses the air (oxygen) essential for power generation and sends it to the FC for the first model of the Mirai. The FC air compressor TICO developed for the new model is 24% more efficient, 45% smaller, and 35% lighter.

FC Air Compressor

Fuel cell unit. The new fuel cell system and hydrogen tank layout have been revised to achieve both greater power and a longer driving range.

Polyelectrolytemembrane

Flow ofelectrons

FC stack (electricity generator)

Take in, compress, and send air (oxygen) to FC stack

Air Compressor

Hydrogen Circulation Pump

Circulate unreacted hydrogen back to FC stack

H2OO2

H2

H2O H2OPositive electrode

Negativeelectrode

H2OWater

H2Hydrogen

O2Oxygen

Electricitygeneration

TICO technology was adopted for the hydrogen circulation pump, which recovers hydrogen remaining after the chemical reaction in the FC and sends it to the FC for power generation. This model is 32% smaller and 41% lighter than the previous model.

Hydrogen Circulation Pump

Toyota Industries North America, Inc., U.S.A.December 18, 2020

TICO Technology Features in Second Generation Mirai

H+ H+ H+ H+ H+

e-e-e-e-

H+

Net sales

Operating profit

Profit before income taxes

Profit attributable to owners of the parent

A Net sales decreased JPY 100.8 billion to JPY 1,523.6 billion compared with the same period of the previous �scal year, while operating pro�t declined JPY 21.9 billion to JPY 79.1 billion.

B Third quarter (October 1 to December 31, 2020) net sales and operating pro�t both outperformed those in the same period of the previous �scal year. Although the COVID-19-induced slowdown of the global economy contributed to decreases in sales and pro�ts, both recorded steady recoveries.

C The forecast for net sales and operating pro�t for the full �scal year has been revised upward to JPY 2,100.0 billion (up JPY 100.0 billion from prior announcement) and JPY 110.0 billion (up JPY 25.0 billion).

FY2021

1st half(1Q+2Q)

957.0

30.2

65.2

48.1

8.9

0.3

0.6

0.4

3Q

Total(April 1 -

December 31, 2020)

Change vs FY2020 FY2021 Forecast(Apr. 1, 2020 - Mar. 31, 2021)

1st half(1Q+2Q) 3Q Current plan Previous plan

(Oct 29, 2020)

Total(April 1 -

December 31)

566.5

48.9

79.6

61.7

5.5

0.4

0.8

0.6

1,523.6

79.1

144.8

109.8

14.4

0.7

1.4

1.0

2,100.0

110.0

175.0

135.0

19.8

1.0

1.7

1.3

2,000.0

85.0

140.0

105.0

18.9

0.8

1.3

1.0

-145.9

-41.3

-42.8

-34.1

-1.4

-0.4

-0.4

-0.3

(-13.2%)

(-57.8%)

(-39.7%)

(-41.5%)

45.0

19.5

17.4

14.7

0.4

0.2

0.2

0.1

(8.6%)

(66.2%)

(28.0%)

(31.2%)

-100.8

-21.9

-25.4

-19.5

-1.0

-0.2

-0.2

-0.2

(-6.2%)

(-21.7%)

(-14.9%)

(-15.1%)

A AB C

TICO Group Consolidated Financial Results for Third Quarter of Fiscal Year 2021 USD amounts have been translated from the Japanese yen using

the average exchange rate during the fiscal year for your reference.

How to read the figures

JPY billion USD billion

1009 TALK 2021 Vol. 51TALK 2021 Vol. 51

TICO Group associates from around the world were invited to submit photos under the theme “Happiness.” The TALK coordinators voted on the entries and selected the top eight. Here are the winning entries. Submissions that narrowly missed the cut are featured on the cover.Photo Contest

Pure Joy

Duane Mathes, Bastian Solutions (U.S.A.)

My First Train Ride

Jolly Ride Adoption Day

Girish Kumar, KTTM (India)

Mathias Schaffranka, TDDK (Germany)

Jennifer Kain, Raymond (U.S.A.)

Air Hugs

My son Franz was excited and overwhelmed by his �rst train ride. Seeing him so happy, of course, makes me happy, too.

This is the �rst time in her life she had been to the beach and played in the sea.

Happiness is going on a long ride with your loved ones.

After 1,173 days in foster care in our home, we are of�cially a family. What a Christmas gift!

Judge’s commentEverything must have been fresh for her, especially going to the beach for the first time.

Judge’s commentChildren’s love of trains is universal! He looks really happy.

Lucie Draper, MACI (U.S.A.)

This is my visit to my elderly mother during the pandemic. She couldn’t hug us so we bought her a stuffed animal to hug.

Judge’s commentEven in these difficult times there are many ways to find happiness.

Judge’s commentIt’s like a scene from a movie! Cool!

Patrizia Neri, TMHMI (Italy)

It's wonderful to see happiness in the eyes of kids when they are in nature. This is from the Dolomites with love (and happiness).

Judge’s commentSurrounded by such incredible nature, we can easily understand his excitement!

Judge’s commentWhat a magnificent Christmas gift. It is clear how much you wanted this day to come.

To Travel Is to Live Happiness on the Mountain

Antonio “Tony” Cruz, MACI (U.S.A.)

Every time I whisper “You’re so beautiful” to my granddaughter Emelia, she smiles like this.

Judge’s commentYour granddaughter is so precious, but you don’t look like a grandpa at all. You look really young!

Oh Grandpa!!

Sanjukumar, TIEI (India)

We traveled with best friends to Murdeshwar Temple. This is a breathtaking view of the 37-meter-tall (123 feet) Sri Shiva idol.

Judge’s commentReal-world travel experience is more compelling than online experience!

Honorable Mention

1009 TALK 2021 Vol. 51TALK 2021 Vol. 51

TICO Group associates from around the world were invited to submit photos under the theme “Happiness.” The TALK coordinators voted on the entries and selected the top eight. Here are the winning entries. Submissions that narrowly missed the cut are featured on the cover.Photo Contest

Pure Joy

Duane Mathes, Bastian Solutions (U.S.A.)

My First Train Ride

Jolly Ride Adoption Day

Girish Kumar, KTTM (India)

Mathias Schaffranka, TDDK (Germany)

Jennifer Kain, Raymond (U.S.A.)

Air Hugs

My son Franz was excited and overwhelmed by his �rst train ride. Seeing him so happy, of course, makes me happy, too.

This is the �rst time in her life she had been to the beach and played in the sea.

Happiness is going on a long ride with your loved ones.

After 1,173 days in foster care in our home, we are of�cially a family. What a Christmas gift!

Judge’s commentEverything must have been fresh for her, especially going to the beach for the first time.

Judge’s commentChildren’s love of trains is universal! He looks really happy.

Lucie Draper, MACI (U.S.A.)

This is my visit to my elderly mother during the pandemic. She couldn’t hug us so we bought her a stuffed animal to hug.

Judge’s commentEven in these difficult times there are many ways to find happiness.

Judge’s commentIt’s like a scene from a movie! Cool!

Patrizia Neri, TMHMI (Italy)

It's wonderful to see happiness in the eyes of kids when they are in nature. This is from the Dolomites with love (and happiness).

Judge’s commentSurrounded by such incredible nature, we can easily understand his excitement!

Judge’s commentWhat a magnificent Christmas gift. It is clear how much you wanted this day to come.

To Travel Is to Live Happiness on the Mountain

Antonio “Tony” Cruz, MACI (U.S.A.)

Every time I whisper “You’re so beautiful” to my granddaughter Emelia, she smiles like this.

Judge’s commentYour granddaughter is so precious, but you don’t look like a grandpa at all. You look really young!

Oh Grandpa!!

Sanjukumar, TIEI (India)

We traveled with best friends to Murdeshwar Temple. This is a breathtaking view of the 37-meter-tall (123 feet) Sri Shiva idol.

Judge’s commentReal-world travel experience is more compelling than online experience!

Honorable Mention

Articles about Toyota Industries Group companies are provided by local TALK and TICOM coordinators. Some articles may have been edited or shortened due to space restrictions. TALK is published by the Public Affairs Department of Toyota Industries Corporation.

We ask for your cooperation with our reader survey.

Vol. 51 February 2021

Printed in Japan in 2021

2-1, Toyoda-cho, Kariya-shi, Aichi-ken 448-8671, JapanTelephone: +81-(0)566-22-2511Facsimile: +81-(0)566-27-5650www.toyota-industries.com

TOYOTA INDUSTRIES GROUP MAGAZINE

February2021

Vol.51

TOYOTA INDUSTRIES GROUP MAGAZINE

EDITOR-IN-CHIEFEisuke Ueno

PRODUCTIONFBI Communications, Inc.

Entries of the Photo Contest

Photo Theme: Happiness