Toyota Industries Chief Apologizes to Shareholders for Test Fraud

Economy

Takahama, Aichi Pref., June 11 (Jiji Press)--Toyota Industries Corp. President Koichi Ito apologized to shareholders on Tuesday for irregularities in engine testing.

"We are very sorry for the great inconvenience caused to shareholders and many other stakeholders," Ito said at a general shareholders meeting in Takahama, Aichi Prefecture.

"We will do our best not to repeat such wrongdoing," he said.

Meanwhile, a stockholder questioned the effectiveness of "token" measures to prevent similar misconduct, while another owner voiced concern over proposed assistance for preventive efforts from Toyota Motor Corp., which was newly found to have been involved in vehicle data-rigging to obtain type approval, necessary for mass production.

At the meeting, the company-proposed nominations of seven board members, including the reappointment of Ito, were approved.

[Copyright The Jiji Press, Ltd.]

Jiji Press