Word: katsuaki
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Dates: during 2000-2009
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...being sacrificed to preserve earnings: Honda announced today that it was pulling out of Formula One racing to focus on its core business. Toyota, which has seen its stock drop more than 50% since the beginning of the year, established an Emergency Profit Improvement Committee chaired by company president Katsuaki Watanabe. Since forming the committee last month, Toyota has planned cuts to production, as well as layoffs for 50% of its contract workers by the end of March and a 10% reduction in winter bonuses for managers...
...weak dollar dumps cold water on some of Japan's largest corporations and exporters, since a higher yen value makes exports from the likes of Sony and Sharp to Toyota and Honda less competitive. On Thursday, Toyota Motor Corp. president Katsuaki Watanabe said that his company will need to maintain profit growth, since it forecast record profit for this fiscal year when the dollar was about 113 yen. For every yen the dollar drops, Toyota's operating profit falls...
After a 41-year apprenticeship at Toyota Motor, Katsuaki Watanabe became its president in June. Best known for a cost-cutting initiative that squeezed suppliers and saved nearly $10 billion over five years, Watanabe, 63, takes charge at a time when Toyota (2004 sales: 7.5 million vehicles) is on track to eclipse General Motors as the world's largest carmaker. He spoke to TIME's WILLIAM GREEN and MICHIKO TOYAMA at his company's headquarters in Toyota City, Japan...
...KATSUAKI WATANABE Everyone should be dissatisfied with the present situation and should constantly try to improve or change things. It's important to realize that there is always something more we need to aim at. That's what needs to be recognized by every individual. When you're growing, you're satisfied with the status quo, and that's no good...
...Motors, FUJIO CHO, 68, who has served as president since 1999; in Toyota City, Japan. Under Cho, Toyota dramatically expanded its overseas operations and led the industry in innovations like hybrid cars, while posting extraordinary growth in sales, profits and market share. He will be replaced in June by Katsuaki Watanabe, 62, a 40-year company veteran with expertise in parts procurement and cost-cutting...