BookTitleToyota Tsusho 70-Year History

Summary

Toyota Tsusho 70-Year History

Energy-Sector ReorganizationIn the 1990s, gasoline prices dropped due to energy deregulation, andcompetition intensified. Toyota Tsusho thus reviewed its gas station business, andpromoted partnerships with other industries while scrapping some stations.In overseas, the company established oil divisions in Singapore in 1990 and inthe U.K. in 1991 and began oil trading. However, in 1993 Toyota Tsusho withdrewfrom the U.K.In the field of coal?another pillar of the energy sector?Toyota Tsushodeveloped the Camberwell Coal Mine in New South Wales, Australia, through ajoint venture with Mitsubishi Materials Corp. and began operations in May 1991.Responding to Increased Use of Plastics in AutomobilesSeeing an increase in demand for the use of plastics in automotive parts toreduce vehicle weight, Toyota Tsusho began handling more engineering plasticssuch as polypropylene (PP) resin. The company also expanded its areas of tradeto meet the needs for lighter, thinner, and recyclable parts such as bumpers andinstrument panels.In response to the increasing overseas production by Toyota Group companies,Toyota Tsusho secured a production base for composite resins in Thailand in1995 and in China in 1998. The Chemicals Department extended the company’snonautomotive work to ODA (official development assistance) projects and begandevelopingfertilizersforAfrica.6 Business Development of the Textile and General MerchandiseDivisionReorganization of the Consumer Products and Services DivisionToyota Tsusho had been developing businesses in the fields of generalmerchandise, textiles, and food independently, but in September 1991, thecompany integrated the Materials Department and Textile Department as theTextile and General Merchandise Division. In March 1993, the Food Departmentwas incorporated into the Textile and General Merchandise Division, makingit a four-department structure consisting of the Food Department, and GeneralMerchandise Department and Textiles Departments 1 and 2.Office-related products handled by the General Merchandise Department102