BookTitleToyota Tsusho 70-Year History

Summary

Toyota Tsusho 70-Year History

and the jurisdiction of the proposal system was transferred from the GeneralAffairs Department.4 Response to Financial DeregulationAs a result of the financial deregulation that began in Japan in the 1980s, thediversification and globalization of financing techniques accelerated. In linewith the development of the financial markets, Toyoda Tsusho and its successor,Toyota Tsusho, diversified their fundraising methods to include issuing domesticunsecured convertible bonds, commercial papers, and overseas Euro-denominatedwarrant bonds, increasing the ratio of direct financing.The company’s first unsecured convertible bond was issued in 1985, and, inFebruary 1987 in the euro market the company issued its first dollar-denominatedeuro warrant bonds of US$70 million. This raised over 10 billion yen. In 1987,domestic commercial papers were issued to raise approximately 20 billion yen.In July 1987, Toyota Tsusho Finance International was established inAmsterdam, the Netherlands, to specialize in financial strategies. The purposewas fundraising in the euro market and trilateral trade, intermediation of fundsbetween overseas subsidiaries, and fund management.In addition, exchange dealings centered on the company’s International FinanceSection were strengthened in line with the increase in exchange reservationbusiness. A system capable of 24-hour currency exchange transactions wasintroduced, and export bills were purchased and remittances from overseasprocessed in real time.Convertible bondWarrant bond signing ceremony in London(February 1987)Section 2 Establishment of Internal Systems1 Systemization of Employee Education and Training in JapanIn 1980, Toyoda Tsusho began the systemization of employee education andtraining. With the three pillars of (1) self-development, (2) on-the-job training(OJT), and (3) off-the-job training (Off JT) as part of group education, departmentdeputy general manager and section manager training, newly appointed sectionmanager and assistant manager training, fourth- and seventh-year mid-levelemployee training, new employee training, etc., was established. Special educationprograms to train staff to be dispatched overseas and to provide language trainingwere likewise prepared, based on an in-house recruitment system used since 1984.Overseas trainees were dispatched to the Trade Training Center, and languagetrainees were dispatched to universities in Hong Kong, China, and the formerSoviet Union.In the self-development promotion system, a program by correspondenceeducation was offered at half the cost, and various courses for management,general business, OA education, qualification acquisition, language learning, andmore, were set up. In addition, in-house courses in English, Chinese, Russian,and Spanish were provided to facilitate the study of languages for general tradingcompany employees.Management ability study session2 Establishment of a Company Benefits System in JapanWorking environments and employee benefits gradually improved beginning inManagement abilities activity announcementHistory79