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Toyota Motor Finance Chairman, General Manager, and other executives change their original General Manager to Chairman

芊芊551
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Today, Toyota Motor Finance (China) Co., Ltd. (referred to as Toyota Motor Finance) announced that its chairman, directors, and senior management have undergone changes through shareholder resolutions and regulatory approvals. Regarding the personnel adjustment mentioned above, how will it affect its future strategic planning and development direction? The reporter interviewed Toyota Motor Finance, but as of the time of publication, no response has been received from the other party.
According to the announcement, in accordance with the shareholder decision issued by Toyota Financial Services Co., Ltd., a wholly-owned shareholder of Toyota Motor Finance, and with the latest qualification approval from the Beijing Regulatory Bureau of the State Administration of Financial Supervision and Administration (referred to as the "Beijing Regulatory Bureau"), the General Manager of Toyota Motor Finance Co., Ltd., Ryu Ishii, was promoted to Chairman, and the General Manager was changed from Ryu Ishii to Ryu Meng Xuefeng.
The reporter learned that the approval for the change of Toyota Motor Finance General Manager mentioned above has been publicly announced by the Beijing Regulatory Bureau. In addition to this batch of approvals, the Beijing regulatory authority also approved the appointment qualifications of Sun Yingyan, the Deputy General Manager of Toyota Motor Finance, as the Chief Risk Officer, Su Yi as the Director and Deputy General Manager of Toyota Motor Finance, Chen Jinliang as the Director and Deputy General Manager of Toyota Motor Finance, and the appointment qualifications of the Chairman of Toyota Motor Finance. The Beijing regulatory authority has not yet announced the approval. The changes in senior management personnel of Toyota Motor Finance are as follows:
According to public information, Toyota Motor Finance was established in 2005, headquartered in Beijing, and is a company mainly engaged in monetary and financial services. The registered capital of the company is 4.1 billion yuan, and it is wholly owned and controlled by Toyota Financial Services Co., Ltd. The reporter learned that with Japanese car companies such as Toyota experiencing poor sales in China in the past two years, Toyota Auto Finance has also been under certain performance pressure.
According to media reports such as 21st Century Business Herald, Honda's sales in the Chinese market have been declining since reaching a peak of 1.627 million units in 2020. In 2021 and 2022, Honda sold 1.561 million and 1.373 million units respectively, and in 2023, it continued to decline by 10.1% year-on-year to 1.23 million units; Toyota's sales in the Chinese market have been declining for two consecutive years, and the decline has expanded. In 2022, the decline was 0.2%, and in 2023, this number expanded to 1.7%, reaching 1.9076 million vehicles.
According to data released by Enterprise Warning, Toyota's financial performance has been on a downward trend in recent years. In 2022, Toyota Motor Finance recorded total assets of 30.259 billion yuan, a year-on-year decrease of 15.31%; Realized during the period, with a revenue of 1.135 billion yuan, a year-on-year decrease of 23.99%; Realized a net profit of 538 million yuan, a year-on-year decrease of 38.75%. The reporter learned that Toyota Motor Finance's revenue in 2020 and 2021 were 1.763 billion yuan and 1.493 billion yuan respectively; During the same period, the net profit was 988 million yuan and 878 million yuan, respectively. An industry expert said that with another decline in Toyota's sales in China in 2023, it may to some extent affect Toyota's financial performance.
The reporter learned that in October last year, the State Administration for Financial Supervision and Administration issued a notice on financial support for the recovery and expansion of consumption, which provided strong support for promoting automobile consumption. The relevant measures include optimizing automobile loan policies, simplifying the automobile loan process, and enriching the supply of automobile financial products.
Under the favorable policies mentioned above, Toyota Motor Finance has solved many pain points faced by customers during the car purchase process by launching low down payment product solutions, zero and low interest rate financial solutions, and 12-60 flexible repayment options, meeting different personalized needs. And through the digital automotive financial service model, empower financial services with technological means, improve service quality and efficiency, and enhance service experience.
Toyota Motor Finance has stated that in the future, Toyota Financial Services will continue to stimulate financial vitality through practical actions, helping the sustainable development of the automotive industry. Nowadays, with the adjustment of executives such as the chairman and general manager, what impact will it bring to the development of Toyota's automotive finance? China Net Finance will continue to pay attention to it.
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