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Toyota and MUFG

Toyota Motor Corporation is one of the largest companies in Japan which started in 1933 as a part of the Toyoda Automatic Loom Works Limited. The company was founded by Toyoda Sakichi. The company became the largest automotive company in the world for first time in 2008. Toyota is headquartered in Toyota City which is an industrial city of Nagoya, Japan.

MUFG (Mitsubishi UFJ Financial Group) has established in 2005. The company is the merger and integration of numerous financial institutions of Japan with having history of more than 350 years. The company the history of MUFG evolves from the establishment of Konolke Exchange Bureau in 1656 to the creation of MUFG in 2005 (Mitsubishi UFJ Financial Group, 2019).

Corporate Governance

The corporate governance system of Toyota is based on fulfilling the company’s vision. This includes decision making systems, management and boards of directors and their responsibilities development. Provision of quality and highly affordable products and services is part of the corporate governance of Toyota Motors (Corporation, 2019).

Corporate governance of MUFG covers the ultimate purpose of the organization, major approaches, role and duties of concern bodies (directors), committees, shareholders and stakeholders relationships, and the way of information disclosure.

Company Structure

The organizational structure of Toyota is based on company’s global business operations. The company corporate structure is designed in the way that support company’s strategic direction (Corporation, 2019). The main characteristics of Toyota structure are; Global Hierarchy, Geographic Divisions, and Product based Divisions.

The company structure of MUFG is designed well detailed and established. The main purpose of the enhanced company structure is to meet every business and customer’s requirement in the most credible way (Mitsubishi UFJ Financial Group, 2019).

Differences in Financial Reporting

Format

The formats of financial reporting has several purposes. Here, shape the overall balance sheet of the firm.

Measurement

All financial statement are used for measuring financial performance where balance sheet conveys the financial position of firm at a particular periods while income statement is used to measure the financial performance at a specific period.

Disclosure

Financial information are also disclosed for more purpose than investment. The difference mainly include defaults disclosure and information disclosure. Information are disclosed for investment purposes while default disclosure is done to convey the accurate picture of firm in case of any default.

Conclusion

In the conclusion, Japan is one of the well-established countries in the world with having an impressive GDP rate. The country is highly suitable for investments and business expansion for any company or firm. In terms of organizational analysis of Toyota and MUFG, both of the companies are well-established and have effective organizational structure and strong corporate governance that ensure their success in every aspect.

References

Mitsubishi UFJ Financial Group. (2019). Mitsubishi UFJ Financial Group. Retrieved 8 August 2019, from https://www.mufg.jp/english/index.html

Corporation, T. (2019). Toyota Motor Corporation Official Global Website. Toyota Motor Corporation Official Global Website. Retrieved 8 August 2019, from https://global.toyota/en/