TMP Chairman Alfred V. Ty expressed gratitude to the Toyota community and stakeholders for their unwavering support in advancing the company’s vision of not only producing mobility products and services but also contributing significantly to nation-building.

Acknowledging the stewardship of the outgoing TMP President, Ty emphasized Okamoto’s exemplary leadership during challenging times. “Even amidst the darkest days of the pandemic, Mr. Okamoto steered Team Toyota Philippines with unwavering resolve, launching new models, maintaining workforce integrity, and standing in solidarity with our customers, dealers, suppliers, and partners,” Ty shared.

By 2022, TMP has already recovered to pre-COVID operating levels. Ending his four-year term on a high note in 2023, Okamoto led TMP to a new historical record high sale, coupled with having one of the highest manufacturing quality and efficiency standards in the Southeast Asian region.

Welcoming the new TMP President, Ty underscored Hashimoto’s wealth of experience gained from 24 years in the manufacturing industry, spanning various critical functions such as global sales and business planning, Asia distribution, and human resource management.

The turnover of leadership comes as TMP continues to grow its business with new mobility solutions and automotive value chain innovations. TMP is also preparing for the local production of the IMV 0 (Zero), the Company’s third Completely Knocked Down (CKD) model and game-changing light commercial vehicle unveiled last year.

Hashimoto urges for stronger collaboration in the automotive industry and seeks to harness the fullest potential of the Philippine human capital. “As [local] manufacturing remains at the core of its business, Toyota can have the best of both worlds of hardware for production quality and software for [highly skilled] workforce,” he said.

“Under your leadership, we look forward to the introduction of the Next-Generation Tamaraw, a step-up in our drive towards electrified and connected mobility and the further upliftment of the lives of Filipinos,” Ty added.

The automotive industry is now fully recovered from COVID-19, posting total sales of 430,000 units in 2023 and surpassing the 410,000 units recorded in 2019. Given its major impact in driving the economy, this recovery signals the country’s return to motorization that was stalled by the pandemic.

Toyota meanwhile continues to be the Philippines’ most popular car brand for the 22nd consecutive year. The company set a new all-time sales record in 2023, with sales breaching the 200,000-unit mark.

In line with the return to normalcy of manufacturing, sales, and distribution operations, TMP’s cumulative contributions totaled P 60 billion in the form of taxes and duties.