It is truly immeasurable how much hope for immense progress the world's preeminent invention of the Automatic Loom by Sakichi Toyoda brought to the Japanese industry back in those days. This glorious invention, however, was not made overnight. This accomplishment was achieved after he overcame several formidable obstacles that he encountered in the way of this invention.
Sakichi achieved his cherished theory that one should devote oneself to one industry, and Kiichiro Toyoda, his eldest son, achieved Sakichi's dream for manufacturing automobiles and laid the foundation for today's Toyota Motor Co., Ltd. (currently Toyota Motor Corporation) . Specialty steel was one of the major obstacles among a great number of obstacles he encountered after starting to tackle the production of automobiles. To solve this problem, he had to directly address the research for specialty steel for automobiles, which was said to be an undeveloped area in Japan at that time.
In those days when Japanese industries were being reorganized into military-oriented industries and the consumption of specialty steel was significantly constricted by a string of restrictions, it became very difficult to procure specialty steel for automobiles and even if any specialty steel was procured, it was impossible to make any special request for steel quality that would directly concern with the quality of the finished products.
Kiichiro ' s conscience as an engineer and his insight as an industrialist did not accept such a situation. Consequently, he came up with a grand design for further expanding the steel manufacturing department that had been established on the premises of Toyoda Automatic Loom Works, Ltd. (currently Toyota Industries Corporation) and constructing a full-scale steel mill in Ueno Village (currently Tokai City), which faced the Ise Bay.
Thus, on March 8, 1940, the Steel Department was spun off and Toyoda Steel Works was independently established. This is our Company.
The foundations of today ' s prosperity of our Company and various Toyota group companies were built up by Sakichi and Kiichiro and also Risaburo Toyoda, the first president of our Company, who was then the principal conductor of all Toyota companies and the very person who fully understood and financially assisted Kiichiro.
The tireless spirits of these founders and economic foundations cultivated based on such spirits have been inherited by various Toyota group companies including our Company, and the spirits continuously pulsate in their businesses, and their businesses will further continue their fruitful growth in the years to come.