Welcome to the Daily 5 report for Tuesday, June 10.
Akio Toyoda, after an unprecedented four terms running the Japan Automobile Manufacturers Association, is returning to lead Japan's car industry at the helm of an even bigger umbrella group tasked with rekindling Japanese competitiveness and car culture.
The Toyota Motor Corp. boss, who stepped down as JAMA chairman at the end of 2023, was appointed chairman of the Automobile Business Association of Japan on June 10.
Toyoda will be the frontman for one of the world's biggest automotive and manufacturing industries during a time of unprecedented change and upheaval.
The Automobile Business Association of Japan is a broad industry alliance encompassing JAMA and a host of intertwined industries, including the energy and insurance sectors. Other businesses involved include trucking organizations, motorcycle federations, parts makers, auto auctions, rubber industry associations and machinery and tool makers, driving schools, you name it. Toyoda's goal is a more unified front in dealing with policy and regulation. His mission, as he put it: "To make cars a part of Japanese culture."
Meanwhile, American carmakers looking to expand sales in Japan could consider using Toyota Motor Corp.'s domestic sales network, according to a senior executive of the Japanese carmaker.
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While U.S. carmakers have 163 sales locations in Japan, Toyota has more than 4,000, Chief Technology Officer Hiroki Nakajima said in an interview published June 9 on the company's media site. "When U.S. manufacturers bring cars to Japan, for example, using Toyota's sales network to deliver them is an option," Nakajima said.
And be sure you check out the latest news on the burning ship in the Pacific, how the rare earth metals talks are going in London, and our story on supplier Detroit Axle's lawsuit against the Trump administration.
That's it for today. Have a great rest of your day.
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— Wes Raynal, assistant web editor
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