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June 21, 2023

Toyota faces down activist investors over climate lobbying

Koji Sato: The new Toyota CEO declared in February when unveiling his management team “We must drastically change the way we do business, from manufacturing to sales and service” (Photo: Kiyoshi Ota/Bloomberg)
Koji Sato: The new Toyota CEO declared in February when unveiling his management team “We must drastically change the way we do business, from manufacturing to sales and service” (Photo: Kiyoshi Ota/Bloomberg)

Toyota witnessed opposition at its June annual meeting, as some shareholders expressed unhappiness with the car giant’s climate lobbying and a lack of independence at board level. Electric vehicles could make up almost a fifth of cars sold this year, while car manufacturers face future bans on new petrol car...

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