Largest Japanese automobile manufacturer and one of the largest automotive companies in the world.
It was established in 1933 as a division of the Toyoda Automatic Loom Works, Ltd., and in 1937 it was incorporated as the Toyota Motor Co., Ltd. Toyota later established many related companies, including Toyoda Machine Works, Ltd. (1941), and Toyota Auto Body, Ltd. (1945). In the 1960s and '70s the company expanded rapidly, exporting large numbers of cars to foreign markets. Following consolidations among many of its business units, the company took the name Toyota Motor Corp. in 1982. It has assembly plants and distributors in many foreign countries, and it owns subsidiaries that produce cars and car parts, trucks, steel, synthetic resins, and industrial equipment. Its brands include Toyota and Lexus.