Fortune magazine has named Toyota Industries Corp. (TICO, Irvine, Calif.) to its top 50 list of the World's Most Admired Companies.
This is the first time that TICO has appeared on the Global top 50 All-Star list ranking as the 36th most admired company, tied with Lowe's. TICO achieved an additional honor, earning the number one spot in the motor vehicle parts industry ranking, moving up from last year's number two position.
According to Fortune, Toyota is the leading supplier of lift trucks in the United States and worldwide. The majority of lift trucks sold in the United States by TICO's subsidiary Toyota Material Handling, U.S.A., Inc. (TMHU) are manufactured at the Toyota Industrial Equipment Manufacturing (TIEM) Columbus, Ind. plant.
Toyota Motor Corp. (TMC) also was featured in the Fortune survey, rated number two on the World's Most Admired Companies list.
Fortune created a list of 351 companies in 30 industries with revenues greater than $8 billion. Hay Group sent surveys to 8,645 executives and directors at those companies, as well as to analysts. Respondents were asked to rate companies in their industry on a scale of 0 to 10, on nine different attributes including: innovation, use of corporate assets, globalness, quality of management, employee talent, financial soundness, long-term investment, social responsibility and quality of products/services. The average of those scores was used for country and industry rankings. Respondents were also asked to rank their top ten companies across all industries. The All-Star list is based on that result.
Source: Toyota Material Handling, U.S.A., Inc.