Toyota Motor Corp. Chief Executive Officer Akio Toyoda says he is starting to question long-ingrained practices at the Japanese carmaker after cutting travel by 80 percent and spending less time in meetings as part of measures to guard against the spread of the coronavirus.
The grandson of Toyota’s founder, who has spent recent weeks at a company training facility, said on Tuesday he is now questioning genchi genbutsu, a Japanese phrase that translates roughly into "go and see for yourself.” The principle was built on the idea that problems can be solved more quickly and efficiently by going to where they exist and analyzing root causes.
"We’re taking a fresh look at the assumptions of genchi genbutsu,” Toyoda, 64, said after announcing Toyota’s financial results and forecast for an 80 percent decline in operating profit for the fiscal year through March. The outbreak has forced automakers to shut factories and showrooms, leading to a plunge in vehicle sales.