Running Head STRATEGIC AUDIT TOYOTA COMPANY 1STRATEGIC AUD.docx

Running Head: STRATEGIC AUDIT: TOYOTA COMPANY
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STRATEGIC AUDIT: TOYOTA COMPANY
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Strategic Audit: Toyota Company
Dr. Mario Hayek
Debo A Ogunseinde
GLB/Strategic Management - 527
June 30, 2019
Table of Contents
I. Introduction 4-5
Toyota Company History 5-9
Toyota Company Worldwide: Acquisition 9
II. Industry Overview 10
Automotive Industry 11

Revenue Streams 12-13
Costs and Expense 13
III. External Environment 14
Political Impacts on Toyota Company 14-23
Economic Environmental Impacts on Toyota Company 24-29
Socio-Cultural Impacts on Toyota Company 30-33
Technology Impacts on Toyota Company 33-35
IV. Porter’s Five Forces 36
Competition in the Automotive Industry 52
The threat of New Entrants into the Automotive Industry
38-41
The threat of Substitute Products 41-44
Bargaining Power of Customers 44-46
Purchasing Power of Consumers 46-50
V. Toyota Company SWOT Analysis 52
VI. Internal Environmental Analysis 52
Strengths of Toyota Company 52-54
Weaknesses of Toyota Company 54-56
VII. Environmental and Industry Analysis 56
Opportunities of Toyota Company 56-57
Threats of Toyota Company 57-58
VIII. Environmental and Industry Conclusion 59
References: 60-64

I. Introduction
Toyota Company is a multinational Automotive Corporation
with its headquartereds in Toyota City, Aichi Prefecture Japan.
Toyota is among the top ten what number are they? automotive
companies in the world despite being the biggest what does this
mean? car manufacturing company which was founded back in
the 1930s. This company besides being the main car producer, it
involves itself please make sure to edit this paper; I expect
graduate degree work or partners with large industrial groups
which involve themselves in electronics, machinery, and
finance. In 1933, the founder of Toyota Company named
Kiichiro Toyoda begun the automotive division which was a
transformation from textile machinery production (Jürgens,
2015). In 1935, Toyota Company made its successful trial on
its own produced cars, upon its car launch, the production units
increased significantly due to the impacts of World War II.
In around 1970s???, the company had a total production unit of
about 10 million and it becomes isn’t this past tense???the main
supplier of cars in North America. From the 1960s to 1970s was
the self-expansion period for this company before starting to
face competition from other car producers in the market and the
new entrants. The main competitors of Toyota Company in the
Automotive industry include Ford Company, General Motors
Company, Volkswagen Company, Suzuki Company, Nissan
Company, Honda Company, Fiat Chrysler Automobile
Company, BMW and Mercedes Company (Jürgens, 2015).
Toyota Company is majorly a strong competitor for Ford,
Hyundai, as well as Volkswagen which are the other well-
known makers of cars in the automotive industry according
to…?. The main focus of Toyota is on sustainable expansion
besides the production of electric powered vehicles which are

environmentally friendly and in line with the global target of
curbing global warming which has a thread in the globe as far
as climate change is a concern (Jürgens, 2015). The greatest
market of Toyota Company is North America, followed by
Japan and finally, Asia closes the top three best markets for the
Toyota products. The Company has an approximate of 364,445
employees globally with 69 manufacturing plants and
institutions in the world according to the company's statistics of
2017. In this year, the company registered net revenue of 27,597
billion Japanese Yen. Recently, the President of Toyota
Company (Akio Toyoda) announces past tense??that the
company’s focus at the moment is its expansion in the world
automotive industry through diversification of its services,
making more investments in the manufacturing of electric
powered vehicles with an aim of conserving the environment
through reducing the toxic gases emission rates to the
atmosphere, and bringing new as well as enhanced versions of
Toyota Prius which was the first in the car selling market in
terms of quantity bought back in 1997 (Jussani, Heer, Ibusuki,
& de Moura Côrtes, 2015).
In this research paper, the qualitative, as well as quantitative
analysis of Toyota's generic as well as intensive growth
strategy, will be discussed in depth. The analysis of political,
economic, social-cultural, as well as technology impacts on the
growth of Toyota Company, will be covered also. Finally,
Porter’s Five Forces as they apply to Toyota Company will be
discussed alongside the SWOT Analysis of the company,
besides a conclusive statement of why we believe Toyota
Company implemented the generic and intensive growth
strategies (Jussani, Heer, Ibusuki, & de Moura Côrtes,
2015).Toyota Company History
Back in please be formal in your writing…1924, the Toyoda
Model G Automatic Loom was invented by Sakichi Toyoda, and
it worked under the jidoka principle. This principle states that a
machine stops itself when a problem occurs. This is the current
Toyota production system. The Looms were being built on small

scale production line, but in 1992, the Toyoda Model G.
Automatic Loom was purchased by the British company called
Platt Brothers. This raised revenue which enabled Kiichiro
Toyoda to establish Toyota Automobile Company which is the
current Toyota Company. The first car that Toyota Company
produced in 1936 was called Toyoda Standard Sedan AA. The
official production of Toyota automobile kicked off in 1933
(Jussani, Heer, Ibusuki, & de Moura Côrtes, 2015).Among the
first vehicles of Toyota Company apart from Toyoda Standard
Sedan AA were A1 passenger car and G1 truck which was
launched in 1935.In 1937, Toyota Motor was independently
established and its brand name was changed to Toyota Motor
from Toyoda which was adopted from the family of the
company founder Kiichiro Toyoda. The first car for Toyota
Company was sold at 3,350 Japanese Yen which was much
cheaper than the cars from Ford which were being sold at 3,750
Japanese Yen. There appeared consultations of the logo and the
name under which the company was to be registered towards the
end of 1936. In 1937 the Toyota name was agreed and was
officially registered as Toyota Motor Company in 1937 August.
Its headquarters were set to be in Toyota City, Aichi Prefecture
Japan which is also the current headquarters of the company
under the current chairman Takeshi Uchiyamada, vice chairman
Shigeru Hayakawa, and Akio Toyoda as the company president
(Kehr, & Proctor, 2017).The 1940s to 1950s In earlier 1947s,
the company's small-sized cars were being sold under the name
Toyopet which according to Japanese article was the company's
nickname as a result of the size of the company. The name
originated from the naming competition that was held by the
company in the same year 1947. In 1957, the company was
forced to drop the name Toyopet when it penetrated into the
American market. This was due to the fact that the name was
not marketable in the American market more especially the
North America section which happens to be the leading market
of the Toyota products. The association of this name with the
toys as well as pets made the company lost its market for this

brand. Other factors which contributed to the poor reception of
the Toyopet cars in the United States was because of its high
pricing as well as lack of horsepower. It's however important to
note that even if the Toyopet name was dropped in the
American market, it was still being used in other world markets
until the mid of the 1960s when the name officially dropped
from all market (Kehr, & Proctor, 2017).The 1960s to 1970sDue
to the reaction of the United States in the earlier 1960s of
placing stiff import tariffs of some vehicles including those
from Toyota Company, it forced the Toyota Company to start
building its production plants in the United States which was
completed by the late 1980s. for instance a tax duty on imports
of 25% which was placed by the United States made the
management of the company to facilitate the building process of
their production plant in the United States bearing in mind that
the United States on the northern section was and still is the
leading market for the vehicles besides other products from the
company. This made the company ensure that it maintains its
North American Market in particular. The Toyota Corona
marked the company's major sales in the United States market
after the Toyopet car had bad reception in the United States
market (Kehr, & Proctor, 2017).During this period of Toyota
Company history, the company experienced a faster rate of
expansion which made it start exporting automobiles in bulky to
foreign markets. In 1966, the company acquired Hino Motors,
Limited which meant to produce large trucks as well as buses. It
also acquired Nippondenso Company, Limited which was a
maker of electrical auto components. Finally, the last company
which was acquired by Toyota during this period was Daihatsu
motor Company limited. The company's reputation in the United
States was also boosted by the Corolla vehicle which it released
in 1968, and this was attributed to its low cost as well as its
fuel-efficient feature (Kehr, & Proctor, 2017).The 1980s In
1982, Toyota Motor Company merged with Toyota Motor Sales
Company, limited to form Toyota. In 1984, the Toyota Company
partnered with General Motors another automobile Company

from the United States which led to the formation of New
United Motor Manufacturing, Inc which is a dual brand
manufacturing plant in California. By 1986, the company had
produced 50 millionth vehicles with its annual domestic sales
exceeding two million units. Toyota had a significant expansion
on its entry into the 21st century where major innovations like a
luxury brand, Lexus of 1989 (Li, 2018).The 1990s to 2000s+
During this period, the Toyota Company started producing
larger as well as more luxurious vehicles into its car production
line. Such vehicles included full-sized pickups, the SUVs, and a
sport version which was called Camry Solara. The first mass-
produced hybrid powered vehicle globally the Prius was
produced by Toyota Company in the year 1997 which followed
by the listing of the company in both New York Stock Exchange
and London Stock Exchange in the year 1999. Its Scion launch
during this period was specifically targeting the youths in the
market. In 2005, the company released the first world luxury
hybrid car which given the brand name Lexus RX 400h (Li,
2018).However, from early 2006, the company faced financial
constraints as a result of dropping sales which resulted from the
global financial crisis of 2008 more especially in the Asian
market due to the Euro crisis. This was also worsened by the
international safety recall of about 8 million vehicles that took
place in the year 2010. This international safety recalls
momentarily stopped the manufacturing as well as selling of the
company’s top model vehicles hence negatively impairing its
revenue. The financial constraints also continued in 2014 when
the vehicle airbags which were produced by Takata supplier
posed some malfunctioning queries to the regulators of the
United States. This led to a recall of millions of cars produced
by Toyota alongside other Car production companies that used
the airbags from Takata suppliers in making the cars (Li,
2018).This recall was the most complex and the largest in the
United States vehicle regulation market. However, due to the
diversification of the company’s services globally in vehicle
production together with other products like rubber

manufacturing, synthetic resins, automatic looms, and more
other products made the Company to survive the monetary crisis
since it used these other services as an alternative to boost its
production as usual. The company has over the last three
decades; the company has used over 5000 billion Japanese Yen
in the marketing of its products and services according to the
company’s statistics released by the Company President in the
year 2017. A great percentage of this amount was spent on
online marketing mostly on social media platforms. Either
information technology took 50% of this capital share which
was used for marketing by the company. It's no doubt that
marketing significantly increased its sales more especially in
the foreign markets. This further acted as a strategy in
countering the market competition from other competitors in the
market (Li, 2018).Your history focus should be on the past
decade or so; you need to explain the strategies pursued and the
outcome of those strategies… also, how those strategies have
shaped the firms current competitive position in the marketII.
Industry Overview
Automotive Industry
According to the automotive industry overview, in 2013, almost
250 million and above vehicles were officially registered and
recognized in the United States why do we care about the
United States? This is a multinational company…. . This is as
per the automotive registration and regulatory body of the
United States. The economic interpretation of these registered
vehicles in relation to the population of United States of
America shows that it is an era in the United States as well as
other parts of the world where owning a vehicle is seen as
freedom, for instance, freedom of travel how is this relevant to
the analysis in this paper?. As per the statistics, averagely every
family in the United States has got one or more private cars. To
high-income families, every parent and the elder children have
got a private car. The increased demand for vehicles in the
world is made possible by the automotive industry where
Toyota Company plays a major role (Li et al. 2018).

The automotive industry has greatly advanced due to the
changes in technology. This is what is making it possible for
this industry to meet the high demand for automotive products
and services in the market. This industry comprises of various
companies as well as workers who usually manufactures
vehicles and deliver them to the selling and distributing
companies. There are other companies in this industry which
manufactures as well as sell vehicles at the same time. The
automotive industry is subdivided into two segments that are car
manufactures as well as a car parts manufacturer, and any
company in the automotive industry is classified in either of the
two segments. There has been an increase in the number of
automotive part suppliers in the industry in recent times as
compared to vehicle manufacturers. This is due to the fact that
the vehicles in the current generation are more complex in
relation to the past years' vehicles, more especially when
considering the parts as well as the electronics components that
are incorporated in the vehicle (Li et al. 2018).it seems tat you
are over-relying on this one reference…
What stats do you have in this paragraph??? You might recall
from one of the live sessions that I explained that you need to
focus on stats, data and analyses….
Considering the fact that car manufacturing is expensive, there
has been witnessed a smaller number of manufacturers in the
industry with only three leading manufacturers from the United
States which include Ford, General Motors and Chrysler
Companies. In the world automotive industry, the leading in the
industry includes Honda, Toyota, Nissan Motors, Volkswagen,
as well as Hyundai Companies respectively. Considering Toyota
for instance, it contributes to more than 17% of the Japanese
economy. According to the Japanese Budget Control Body,
Toyota is one of the key pillars of the Japanese economy right
from job creation to government taxation. This industry began
with German inventors, Karl Benz and Gottlieb Daimler who
developed an internal combustion engine vehicle that was
powered by gasoline back in the late 1800s (Li et al. 2018).

Because the vehicle was expensive to own, the industry
remained dormant until Henry Ford developed an assembly line
mass production which made the vehicles to be less expensive
hence people started owning vehicles. This boosted the
economy of United States by that time because the industry was
contributing almost 35% of the United States economy through
taxes and easy movement of workers from one city to another or
from one state to another. The industry also contributed to the
reduction of unemployment rates (Lo, J. (2016). According to
Auto Alliance, the industry has directly employed 1.5 million
United States citizens. According to the survey conducted by
the World Bank in collaboration with Auto Alliance in 2018, the
report indicated that the automotive industry together with its
services like transportation stands the third position in terms of
world economic support with annual average revenue of $19.5
trillion US dollars globally (Li et al. 2018).You are over-
focused on the US…. What percent of sales are from the US
market?Revenue StreamsThe automotive industry manufacturers
are subject to market demands of an enormous how
many?multinational pool of customers, but the economic
situations impact the overall industry sales what exactly does
this mean? How large is the impact in dollar amounts?. The car
lot jam perks up during the high season periods while during the
low seasons, the showrooms are normally empty what is the
decrease in numbers? Be specific. The driving habits of
customers normally shift according to economic cycle which
makes the product line to change more often with the
innovations, new models as well as technologies which are
evolving to meet the customer requirements besides enhancing
their satisfaction (Majid, 2017). Because the driver's tastes and
preferences, as well as finances, aren't avoid conjunctions in
formal writing constant, the automotive company's showrooms
will often be stocked with sports cars, economy vehicles, and
family as well as luxury cars always available for the purpose of
meeting the needs of the customers (Majid, 2017).The fuels
prices also influence the customers' demand for automobile

products. It should be noted that since the late 1970s, the price
of fuel started fluctuating with seasons according to the world
price market. This particularly contributed to the varying
degrees of customer preference according to fuel efficiency,
durability, and quality as well as engine power. For instance,
customers will prefer to go for crossovers which have got
features of SUV, traditional car, hybrids, as well as utilizing the
advantages of gasoline and alternative power sources like the
electric source. The top manufacturers like Toyota make proper
analysis on the customer's demand which helps them to carry
out an optimal mix which helps them to keep their profits on top
always (Mantovani, Tarola, & Vergari, 2017).For the purpose of
assisting the customer with automotive products purchases as
well as support sales, many automotive companies usually give
finance programs of low rates as well as attractive enticements,
which include cash backs and cash discounts. Other means
through which the automotive companies attract the customers
into the showrooms include warranties, covering defects as well
as repairs. Vehicle hire is another way through which some
companies in the automotive industry generate incomes. Finally,
automotive companies can generate revenues by selling new as
well as used cars to the government and to private institutions
like rental corporations (Mantovani, Tarola, & Vergari,
2017).Cost and ExpensesRunning an automotive industry
normally involves intensive capita and labor. Apart from labor,
automotive companies need to manage many costs as well as
expenses which are associated with materials, facilities,
equipment, product development, and employment. Much
capital is fueled to the vital raw materials like steel takes a lot
of revenue of the companies in the automotive industry. The
marketing and advertising expenses also take another big share
in the of the companies budgets for the purpose of maintaining a
competitive advantage in the market. Toyota Company uses
5,000 billion Japanese Yen for the three decades in sales and
marketing. The cost of labor also has got a big impact as far as
competitiveness and profitability of the companies in the

automotive industry are a concern (Matsuo, 2015). For instance,
when the workforce is well paid, their performance will also
increase automatically; this leads to increased productivity of
the company. Toyota spends around 20 billion Japanese Yen
annually in employees’ compensations besides ensuring that all
their needs are satisfied. One of the corporate strategies
embraced by Toyota Company is incorporating employees in
every decision that is made in the organization. These ensure
that the employees are also recognized for their contribution to
the success of the Company. This is the major reason as to why
Toyota Company is always flourishing in the automotive
industry since the employees who play a great role in
innovations are always appreciated; hence they always feel part
of the system (Matsuo, 2015).III. External Environment
With Toyota's strategic move of producing of hybrid cars which
are in line with it's just in time production policy, the company
has achieved a lot despite the factor it incorporated this strategy
alongside acquisition, there is a lot of external pressure that is
impacting the company's progress either positively or
negatively. However, by making use of PEST analysis, these
external forces can be identified together with the way they
affect the company's growth. The following section of the paper
will in details discuss the PEST (Political, Economic, Social
Culture, and Technology) analysis in relation to the company
opportunities as well as threats in the market and
accomplishment of its targets (Mehri, 2018).
Political
In the current business world, there is no multinational
organization that is immune to the different decisions made by
the various host governments where Toyota is inclusive avoid
mentioning obvious statements . The unstable market
conduction that Toyota has experienced since it was established
as a multinational company is as a result of consistent policies
of the host country and the frequent change in duty tariff as
well as smuggling. The current shifting in policies of the
government is also affecting Toyota Company. For example, the

in 2002, it was reported that the governments of Venezuela, as
well as Nigeria, were antagonistic to the innovations of hybrid
cars since they believed that the hybrid cars were fuel efficient
and they were going to reduce their dependence on oil with is
their key product in their economies as far as exportation is a
concern (Mehri, 2018). This basically prevented Toyota hybrid
market from growing in these two countries. In general terms,
Toyota Company has been experiencing favorable legal as well
as the political environment in the 69 countries where the
company's services are offered. However, in 1964, the Company
was entangled with the United States tax hike where a duty of
25% of light imported trucks was placed by the United States
government. This tax was called a chicken tax, although its
alliance with General Motors in 1982 to form New United
Manufacturing, Inc made Toyota break up the chicken tax hence
making it easy to bear (Monden, 2019).
Taxes
The corporate strategic acquisition of Toyota Auto Body in
1945, Hino Motors in 2001, as well as Toyota systems in 2019
by the Toyota Motor made its taxes to be reduced because it
reduced the four publicly traded companies itself inclusive to
one public traded company under the name Toyota Motors.
According to Auto Alliance data, the acquisition reduced the
general tax for the company by 8%, while its revenue increased
from an average of 9,071 billion Japanese Yen in 2000 to
27,597 billion Japanese Yen in 2017 (Monden, 2019). The
favorable tax conditions contributed to the growth of the
automotive industry in a tremendously way. Also, the
government of Japan has been greatly encouraging the growth
of the automotive industry through the reduced taxes of the
automotive parts imports as well as the free trade negotiations
with other foreign countries like Canada (Zhang, 2018). The
following tabulation shows the changes in revenue of Toyota
Company over the last decade.
Year
Annual Net Income (billion Japanese Yen)

2009
14,453
2010
14,563
2011
14,976
2012
15,890
2013
16,956
2014
19,643
2015
21,756
2016
24,932
2017
27,597
2018
29,945
Fig 1(a) Regression Graph make sure to place the output table
in an appendix…
Fig 1(b) Regression Analysis
The above Figures 1(a) and (b), shows the graphical regression
analysis with the value of r-squared being 0.9264 correct to four
decimal places when comparing the annual Toyota revenue
change over the ten years period in relation to tax conditions.
This correlation indicates that the general favoring tax
environment made the Toyota Company strategic move to be
successful and easier. Upon the acquisition and alliance
strategic embrace of the Toyota company, its taxes were broken
down through sharing among the involved companies like
General Motors (Wee, 2017). This significantly increased the

company revenue over the years as it can be seen from the
above graphical regression analysis correlation. The 35%
exemption of the automotive industry in Japan from export
duties made Toyota's corporate strategic move more profitable
to the shareholders as they enjoyed a home advantage as well as
away advantage of the alliance. How does this analysis help
uncover opportunities and threats?
Remember that you need 3-7 variables per section of the PEST
and of Porter’s 5 forces…
The Social and Political Climate
The social and political climate also impacted on Toyota
Company over its strategic move. In the analysis the impact of
political instability, the World War II will be considered. In
1945 during World War II, the rate of sales of Toyota Company
together with the production units was highly affected
negatively as a result of political instability. The table below
shows the unit sales of Toyota Company before, during and
after War World II, that is from 1940 to 1960. How does this
old data help you uncover opportunities and threats to be able to
develop strategies for the future???
Year
Annual Rate of Sales (Million)
1940 – 1942
10,000
1942 – 1944
7,000
1944 – 1946
3,000
1946 – 1948
2,456
1948 – 1950
1,690
1950 – 1952
1,567
1952 – 1954
3,687

1954 – 1956
6,956
1956 – 1958
9,993
1958 – 1960
13,457
Fig 2(a)
Fig 2(b)
From the above regression analysis, it's clear that the annual
unit of sales negatively correlates over the years. The r-squared
value is -0.05 which gives a very weak correlation between the
units of sales. The sales units were highest after and before the
Second World War II. With a minimum unit of sales occurring
from 1950-1952, this marked the climax of the Second World
War II. From the regression analysis above, the rate of sales
decreased by over 300% from 1940 to 1952 before surging to
over 400% when the 1952 and 1960 unit of sales are compared.
This indicates the vivid impact of political instability on Toyota
Company. But over the years, the company has enjoyed the
political stability of the host countries where their services have
been diversified to. The other regions where the company
experienced difficulty in attaining the sales target is in Yemen
and Syria where political instability has been experienced over
the years (Wang et al. 2017).
In terms of social-political factors that have to do with the
diplomatic relations between two countries, Toyota Company
has been a victim of circumstances in many instances when
Japan happens to be not in good terms with another country
diplomatically. I will consider two instances when Japan was
negatively impacted. The first stark which impacted Toyota is
on the poor relationships that existed between Japan and China,
this made China take any product that is related to China out of
favor. This came as a result of the dispute which existed

between the two countries over small uninhibited privately
owned islands in the East China Sea. This negatively impacted
the volume of Toyota in China. Secondly, in 2014, the Toyota
Company found itself in a political battle in Australia (Toma,
Marinescu, & Grădinaru, 2018). This controversy was in
relation to loyal commission policies which were introduced by
the Australian prime minister which were targeting big
enterprises where Toyota was inclusive which happened to be
carrying out manufacturing activities in Australia. This instance
made Toyota announce in 2017 that it will stop its
manufacturing activities in Australia since the policies were just
criticized and they were not in line with the international
policies regulating multinational businesses (Toma, Marinescu,
& Grădinaru, 2018).
Government Expenditure
As part of encouraging the growth of the automotive industry in
Japan, the government has increased its spending on
infrastructural development from 20,000 billion Japanese Yen in
2010 to 30,000 billion Japanese Yen in 2018. The table below
shows the percentage increase in government expenditure on
infrastructure development.
Year
Expenditure (Billion Japanese Yen)
2010
20,000
2011
20,500
2012
21,000
2013
23,200
2014
25,000
2015
26,300

2016
27,900
2017
28,600
2018
30,000
Fig 3(a)
Fig 3 (a)
From the above regression analysis, it's clear that the
government expenditure to the infrastructure development over
the years exhibits a positive correlation over the years with r-
squared being 0.9862. This indicates how committed the
government is toward the supporting of the automotive industry
in Japan whereby Toyota in one of the companies in the
automotive industry which is enjoying the benefits that result
from government expenditure in infrastructural development.
For easy transportation of parts as well as other materials
involved in vehicle manufacturing, the means of accessing the
industries is very vital. For this reason, the government is
highly supporting this industry hence making it easy for Toyota
Company to concentrate on its expansion and innovation plan
(Toma, Marinescu, & Grădinaru, 2018).
Again, you need to analyze 3-7 variables….Economic
Environmental Impacts
The economic environment had many factors that impacted
Toyota Company in its process of carrying out car
manufacturing activities. Some variables which were
encouraging from Toyota’s acquisition strategic embrace are the
decreasing unemployment rates in Japan and other countries
where the Company had its services being carried out. The
general increase in the salaries of employees working in the
automotive industry under Toyota Company, and both the
increasing GDP as well as the continued increasing trend of the

living standards of the communities surrounded by Toyota
Company indicated a significant economic contribution of
Toyota Company to the society (Sölvell, 2015).
Japan Unemployment Rate please check the fint of your titles
and sub-titles….they should be different; if you are having
trouble please use APA format in order to be consistent and
have a logical format for your paper.
From the Japan national Statistics survey that was conducted
from 2010 to 2018, it indicated that the unemployment rate has
reduced from 15.8% to 7.3% (as of June 2018). From the
findings on the report that was generated from the survey linked
the decreased rate of unemployment directly to the continued
expansion of the automotive industry in Japan where Toyota is
the leading Company in the industry. It's important to note that
the Toyota company has employed over 11.2% of the total
people who are employed in Japan. This illustrates how Toyota
is supporting Japan's economy either indirectly by the import
duties being received to the government revenue pool via the
automotive materials that they normally import from other
countries like the United States, or through the direct
contribution of taxes it pays to the government of Japan and the
labor force which it acquires from the Japanese which reflects
on how it helps in reducing the unemployment rates in Japan
(Sölvell, 2015). The tabulation below shows the statistics that
were retrieved from the Japan National Statistics records on the
trend in the unemployment rates in Japan.
Year
Unemployment Rate (%)
2010
15.80
2011
14.92
2012
13.20
2013
11.65

2014
10.36
2015
9.81
2016
8.93
2017
8.15
2018
7.30
Fig 4(a)
Fig 4(b)
The above figures show a regression analysis of the
unemployment rates trend in Japan and how the automotive
industry more especially Toyota is contributing towards curbing
the challenge. From the regression graphical analysis, it's clear
that the unemployment trend has a negative correlation from
2010 to 2018. The r-squared is 0.976, which indicates that the
unemployment rates in Japan are approaching zero rates which
are the desire of every country. According to the Japanese
Statistics National report, Toyota contributes up to 53.21% of
the unemployment reduction in Japan (Sisson, & Elshennawy,
2015). This increased in the rate of employment depicts the
success of the corporate strategy of Toyota of acquisition, the
acquisition led to the expansion of the company in the
Automotive industry, which further led to the creation of many
job opportunities for not only the Japanese citizens but also to
the rest of the world (Simão, & Lisboa, 2017).
On the economic benefits to Toyota Company, there are many
opportunities which are specifically beneficial to Toyota as a
company and over the years, the company has exploited these
economic opportunities which have helped it to attain its targets
besides being one of the global leading automotive companies

in the recent times. Some of these opportunities include weaker
Yen when compared to United States Dollar, the rapid
expansion of developing nations, as well as the steady
expansion of the United States Economy. The company has
highly benefited in terms of revenue growth over the years now.
Based on the weakness of Japan’s Yen in relation to the Dollar,
Toyota has for decades used the Yen weakness as an
opportunity to improve its automotive products exports. The
company has also for some time now used the stability and
gradual change of the United States economy to grow its
businesses in the United States. No wonder the United States is
the second largest market of Toyota Products after Japan
(Simão, & Lisboa, 2017). Finally, the rapid growth of
developing countries around the world more especially in
African countries have been used by Toyota company over the
decades as an opportunity of improving its revenue. The
company increases its revenues through increased supply of its
products to these countries as a result of high customers’ needs
of their products including the governments of these developing
countries. It’s through this exploitation of the opportunities that
are present economically that the company has maintained its
top position in the Japan automotive industry and the third in
the world automotive industry. The table below shows the trend
in the company's global exports for the last decade (Rüttimann,
& Stöckli, 2016).
Year
Unit Exports (Globally)
2009
12,476,390
2010
14,784,302
2011
17,290,589
2012

19,467.03
2013
23,563,786
2014
24,904,890
2015
26,645,323
2016
28,002,345
2017
32,488,002
2018
35,783,908
Fig 5 (a)
Fig 5(b)
From the above regression analysis if the Toyota Company
global exports for the last decade, it's clear from the regression
analytical graph that the company's exports are increasing with
time. The r-squared value of 0.6555 indicates that the
Company’s acquisition corporate strategy is successful since
it’s through the acquisition embrace that the company is able to
meet the demand of its customers worldwide. It’s important to
note that through acquisition, the units of production of the
Company increased, hence its ability to meet the world demand
(Rüttimann, & Stöckli, 2016).
Social Cultural Impacts
The social-cultural factors in the market environment have got
many impacts either positive or negative, as far as Toyota
Company development is a concern. Due to the fluctuating

prices of fuel in the, more customers of automotive products
usually choose small displacement engines because of its high
efficiency. From the Toyota sales record, for instance, around
140,000 Chevrolet Cruze which has got small displacement
engines were sold for only six months in 2010. This tendency of
customers inclining their desire to small displacement engine
vehicles usually influences the manufactures to increase their
small displacement engine production vehicles. For example, in
the current market, General Motors, as well as SAIC, are the
producers of the small displacement engines vehicles
(Rüttimann, & Stöckli, 2016).
The Toyota Company has got a projection of starting to
manufacture the small displacement engine car types in China.
This is attributed to the increasing purchasing power of cars
from the middle-class category in China. With the current
population of middle-class category individuals in China, it's
projected that China will be the leading or the expanding car
market globally. According to statistics, 23% of China's
population represents the middle-class individuals, and with the
current 1.386 billion population of China, 23% represents
around 318.78 million people. This population is almost
equivalent to the United States population, and which is the
second largest Toyota products market. Therefore, it shows that
if this China market will be efficiently utilized by Toyota
Company, China will be the leading market for its automotive
products (Prasad, & Warrier, 2016).
Also, considering the wealth of individuals in Beijing only, it
clearly indicates that more luxury cars will be needed in China.
For instance in Beijing only, there are more than 8,900
billionaires as well as more than 144,000 millionaires. Since
this is just a sample of one city in China, it means that there are
many more tycoons in China who will be in need of luxury cars,
with an assumption that every tycoon will be in need of more
than one luxury car, it makes China part of the region which
will make the acquisition corporate strategy more successful
because of the mass production that will be needed. The table

below shows the unit sales of the hybrid cars of Toyota
Company globally according to regions (Prasad, & Warrier,
2016). This information was retrieved from the annual reports
of the company from 2014 to 2018.
Region
Hybrid Cars Sold
Japan
5,400,104
North America
4,874,900
Asia
3,503,500
India
2,432,000
Others
1,234,502
Fig 6
From the regression graphical analysis above, it’s clear that the
number of cars sold in every region of the world is different
depending on the testes and preferences of the customers. The r-
squared = 0.986 which shows the correlation that exists in the
selectivity of the customers from various regions of the world
depending on the testes as well as the social class of the
customers (Prasad, & Warrier, 2016).
Lifestyle Change: Many individuals are changing their status in
the recent times due to issues like education and even marriages
which forces that they adopt cars of a specific design depending
with the lifestyle and status of an individual. The sudden change
in the lifestyle of an individual creates new demand for a
certain design and class of a car. There has been an increasing
trend in the demand for sports cars more especially in the
population with age bracket ranging between 20 to 30 years.
The below graph depicts the demand rate of sports cars
according to the Toyota sales records.

Fig 7
The above graphical analysis shows the effect of the lifestyle
changes as it relates to the age range and the car version
preference for four years. From the graph, it’s clear that the
lifestyle changes between ages 21 to 30. This is also the period
during which the needs of car version changing takes place.
This is important to especially to Toyota Company in
determining the capacity of the type of its products in various
parts of the world. In this case, the company needs to study the
demographic distribution of a given region before determining
the type of cars as well as the quantity to be manufactured
(Palmer, Tate, Wadud, & Nellthorp, 2018).
Technological Impacts
Technology is the main factor being embraced by every
organization that needs to be competitive in the market besides
increasing its revenue, Toyota has not been left behind. The
technological environment plays a critical role in the
acquisition of the corporate strategy of the company. Some
variables like information technology as well as the internet
have been greatly used in facilitating the success of the
company's corporate strategic move.
Increase in the Internet Use: Toyota is an innovation center, as
a result of this, almost every plant of Toyota has got a research
center where experts as well as engineers analyses various tests
which are aimed at coming up with new versions and models of
Toyota hence enhancing expansion and growth. In searching for
relevant information, the computers in the research room
require to be connected to the internet. In analyzing the research
results, the online analyzing software is of great importance in
facilitating the process. This makes it mandatory that the
internet is used to enhance the connection. Also in making
orders or confirming delivery, the internet must be involved
(Palmer, Tate, Wadud, & Nellthorp, 2018).
Information Technology: it’s important to note that Toyota was
the first company to come up with a hydrogen car. With the help

of information technology, the company has directed over 30
billion Japanese Yen annually on research and development,
with the aim of looking for a way of offering vehicles with an
alternative powering mechanism. The only way an alternative
vehicle powering mechanism can be offered in the current times
is through the use of electric power (Palmer, Tate, Wadud, &
Nellthorp, 2018). With the current hybrid Toyota cars,
information technology is playing a major role more especially
in the integration of the electronic system more especially on
the sensors as well as a remote system of the vehicle. Currently,
there are vehicles which make use of GPS trackers which purely
uses information technology principles. Below is an analytical
and regression analysis of internet use in Toyota Company since
2010.
Fig 8(a)
Fig 8(b)
From the above regression analysis, it's clear that the internet
user has a positive correlation with the number of years starting
from 2010. The r-squared = 0.9934 which indicates a strong
correlation and a sign of the highest degree of the embrace of
internet use within the Toyota plants worldwide (Mutingi,
Monageng, & Mbohwa, 2015).
IV. Porter’s Five Forces
The managers of Toyota Company make use of the Porter Five
Forces as a strategic management tool in analyzing and
understanding how the five competitive forces in the market
affect the profitability of the company. Either they use this tool
in developing a strategic move like the one being used by
Company that is an acquisition to enhance the competitive
advantage of Toyota Company besides enhancing its long-term
profitability in the automotive industry (Jindal, Sarangee,

Echambadi, & Lee, 2016). By making use of the acquisition
corporate strategic move, the company has always maintained a
healthy competitive advantage in the automotive industry which
proves the success of the strategic move of the company. This
can be ascertained further via the application of the five forces
of Porter as follows. Make sure to first identify all the
industries the company competes in…. then, make sure to
analyze each of those industries using Porter’s 5 forces
model…. Remember that the result of the analysis of each
industry should be it’s level of attractiveness so that later you
can make strategic suggestions…
With reference to Porter's article in the Harvard Business
assessment (2009), Porter indicates that the automotive industry
in the current times faces an extensive competition influenced
by the five market forces which have contributed to the limiting
of attractive returns for the competing companies in the industry
(Jindal, Sarangee, Echambadi, & Lee, 2016). This has impaired
the entry of new competitors in the market, hence the reason as
to why there are few corporations in the automotive industry
globally. Porter states that the most benefiting companies in the
industry are those which have developed a clear strategic move
like Toyota; this is the reason as to why Toyota is in a position
acquiring many companies in the industry through its
acquisition strategy. With respect to the Japanese National
Budget Control Council, the return on invested capital for the
automotive industry is averagely 15.5% to 17.5% annually. The
analysis that was done on the automotive industry in February
2018, the return on invested capital for the automotive industry
has an increasing trend, but only 60% of the companies in this
industry contribute to this increasing trend (Jindal, Sarangee,
Echambadi, & Lee, 2016).
In consideration of Toyota Company, its 3rd quarter of 2018, it
experienced a percentage hike on its return on invested capital
of 17.92% which is well above the industry average, and this
happened to be the highest return on investment of Toyota
Company over the last three years. This was attributed to the

embrace of its new acquisition strategy which enabled the
company to produce in large units hence meeting the demand of
the customers which translated to increased sales for the
company (Jindal, Sarangee, Echambadi, & Lee, 2016). This
further acted as a confirmatory for the success of its acquisition
corporate strategy. As per the United States Bureau of
Economic Analysis, it’s projected that for the financial years
2020 to 2025, the automotive industry will contribute between
2% to 4.4% of the total average world gross domestic product.
The five Porter force that will be considered in this discussion
includes, the threat of new entrants, bargaining power of
suppliers, bargaining power of buyers, the threat from substitute
products, and rivalry among the existing players. This model is
usually a holistic strategy framework and it took the strategic
decision away from just analyzing the present competition. It
mainly focuses on the Toyota Company can create a sustainable
competitive advantage in the automotive industry. It must be
noted apart from the Toyota Company management applying
this Porter model in developing strategic position within the
automotive industry, it can also apply it in exploring some of
the profitable opportunities in the sector as far as the customer
goods is a concern (Jindal, Sarangee, Echambadi, & Lee, 2016).
Fig 9The threat of New EntrantsSpecifically what are the
barriers to entry?The new entrants in the automotive industry
are usually more of innovation that is they come up with new
ways of operating in the market. These new entrants also come
into the industry with price leading strategies. This means that
Toyota Company is put under market challenge by these
corporations through the low pricing strategies, reduced costs,
as well as the provision of new value schemes to the customers.
Examples of these companies include Infiniti, Datsun,
Kawasaki, Subaru and many more others who are entering the
market. The pressure that they put on Toyota implies that it has
to control all these challenges besides creating efficient barriers
which can safeguard its competitive advantage in the industry

(Irawan et al. 2018). The following table shows the market
share of Toyota in comparison to some of these new entrants
which are showing a sign of effectively competing with Toyota
Company.Toyota Vs New Entrant in the MarketCompany2018
Revenue (Billions)Percentage of total2016 Revenue
(Billions)Percentage of
TotalToyota¥27,59763.81%¥25,89069.15%Datsun7,34016.97%5
,80015.49%Subaru4,55010.52%3,4509.21%Kawasaki3,7608.69
%2,3026.15%
Data derived from Toyota, Datsun, Subaru, and Kawasaki 10-K
reports (2016 & 2018)
Fig 10
From the above market share analysis, it’s clear that although
Toyota Company is the leading in the market share that isn’t
relevant…the question is ‘what does the future look like for the
automotive industry? what are the more profitable cars or
parts?’ you are trying to understand where to invest money in
this market…, the new entrants in the market are posing a some
challenges to it which have lead to its market share in 2016 to
be reduced from 69.15% to 63.81% in 2018 while the rest of the
companies which are classified under the new entrants category
exhibited a significant increase in the market share percentage
over the two considered year. Therefore, this indicates that even
if the new entrants into the market may seem to be insignificant,
they must not be underrated by Toyota Company, but instead it
should look for the way to counter their competition in the
market, for instance, applying their acquisition strategy to
quench their impacts in the market (Irawan et al. 2018).
Industry Growth Rates
In 2010, the Auto Alliance reported that the automotive industry
had an increase of around 2.5% of the world industry sales. Out

of this, Toyota contributed 0.8% of this sale increase as a result
of new market explore in the developing countries besides using
the opportunity of the gradual growth of United States economy
and the weakness of the Japanese Yen over the United States
dollar. Due to the higher market share that Toyota enjoyed over
the periods, the new entrants took it as an opportunity to
venture into the automotive industry. As a result of this, the
industry was observed to grow at a rate of 2.8% in terms of
production units in 2017 with the sales rate increasing by 2.7%
which is 0.2% more compared to the growth rate of 2010
(Irawan et al. 2018). You don’t care about Toyota!!! You are
interested in analyzing/assessing the industry….
However, in the 2017 sales rate, Toyota contributed only 0.6%
of the total of 2.7%. This was a result of new entrants into the
automotive industry market hence posing competition pressure
to Toyota. Through the application of acquisition strategy, this
year 2019 Toyota has acquired Toyota systems which were one
of the new entrants into the automotive industry. This acts as a
mean of countering the upcoming competition in the
industry(Itoh et al. 2018). According to the Auto Alliance sales
projection of the top companies in the automotive industry,
Toyota is showing a sign of increasing its sales significantly
this year as compared to last year. This shows how successful
the acquisition strategy of the company is.
Apart from acquisition, there are also other ways through which
Toyota can tackle the threats coming from the new entrants into
the market. Some of these ways include the innovation of new
products and services. The newly innovated products will give
Toyota new customers onto their products besides encouraging
the old customers to continue buying the Toyota products as
they will be assured of the efficiency of the products. Secondly,
the Toyota Company can embrace the creation of economies of
scale which will help in lowering the fixed cost per unit of the
company’s products, hence attracting the customers with low
costs of the products. Finally, the company can curb the new
entrants’ threats by the management making sure building

capacities as well as spending money on research and
development has been embraced in the company (Itoh et al.
2018).
The threat of Substitute ProductsThe automotive industry is one
of the industries which don't suffer from the competition of the
substitute products in the market. Therefore as far as this Porter
force is a concern, it doesn't have much impact on Toyota
Company. An individual might wonder why the automotive
industry is not facing a challenge from the aviation industry, the
answer is simple, and it's that, the aviation industry is an entity
of its own as it is the automotive industry. Other products that
can offer a substitute threat to the products of this industry are
the motorbikes. But again, since the motorbikes are under the
automotive industry, each automotive company has got a
department that is in charge of motorbikes production.
Therefore, motorbikes cannot be used as substitutes of the
products of the automotive industry (Itoh et al. 2018).The use of
trains has been a substitute product to the vehicle but it hasn't
so far shown any threat to Toyota product. The disadvantages of
the train are that, it's slow and not efficient as far as
environmental conservation is a concern because its engine is
diesel powered which upon combustion, it emits toxic gases to
the atmosphere like Carbon dioxide which contributes to ozone
layer depletion which further leads to global warming. The fact
the train is a public mean of transport, it's not reliable hence not
desired by many customers. Also, the fact that a train has got
only strategic terminals, it implies that cannot be used for point
to point delivery like public transport vehicles and personal cars
(Gangidi, 2019). The electric train, however, posses some little
threat as far as substitute products are a concern due to its fast
speed, but the only relieve for Toyota on this is that electric
trains are very expensive project to be undertaken by the
government and that it's not much adopted or embraced by
governments more especially on the developing nations
(Gangidi, 2019). The table below shows the number of
passengers who preferred to use the train for transportation

purposes compared to those who preferred private car and the
public vehicle in a survey that was carried out in Japan from
March 24rd 2018 to April 8th, 2018 by the Japanese Transport
Agency Board.Date Private CarPublic VehicleTrainTotal People
26th Feb 2018712193981,00328th Feb 2018610180558452nd
Mar 20189182161271,2614th Mar 2018811276471,1346th Mar
2018510341979488th Mar 2018695456821,233Fig 11
From the figure above, it’s evident that most individuals
preferred the use of private cars, which represented 66.89% of
the total individuals who were interviewed during the survey.
The second category was those who prefer having transportation
means using a public vehicle which represented 24.98% of the
total individuals who were interviewed. Then the last category
was those who preferred to use the train as a means of
transportation which represented 8.13% of the total individuals
who were interviewed (Futagami, & Helms, 2017). From this
analysis, it clearly shows that may it be diesel or electric train;
most of the customers prefer automotive products more
especially from Toyota Company which makes the threat from
the substitute products to be somehow negligible. But with the
current strategy of Toyota, these threats from substitute
products have not been neglected since the company is always
both service and product-oriented which helps it in
understanding the core need of its customers more than what the
customers are buying which finally enables it to increase the
switching cost for their customers (Futagami, & Helms, 2017).
Bargaining Power of Supplier
The higher percentage of companies in the automotive industry
Toyota inclusive purchases raw materials like vehicle airbags
from many suppliers. This force appreciates the fact that the
more powerful the seller becomes in relation to the buyer, the
more influence the seller has. Through advantageous pricing,
limitations in the products and services quality as well as
shifting some costs to the buyer more especially those that are
related to transportation, the influence enjoyed by the seller, in
this case, can be used to reduce the profits of Toyota Company

as a buyer in the market (Pouryeganeh, 2015).
From the market standings of Toyota Company currently, it’s
controlling over 50% of the automotive industry in Japan and
about 10% of the world market. This means that if the suppliers
of Toyota Company try to exercise their influence of bargaining
power or advantage pricing in to reduce the profits of Toyota,
the Company has the obligation to change the type of supplier
who will be favorable in terms of trade between the two parties
(Futagami, & Helms, 2017). For this reason, the suppliers tend
to stick to the terms of trade according to the agreement that
they might have made with Toyota to avoid losing the largest
market of their products in the world. For instance, Takata
suppliers made a big mistake of supplying the Toyota Company
with malfunctioning vehicle airbags which made Toyota and
other Companies in the automotive industry lose billions of
dollars for such a single mistake. Today, the Takata suppliers
are out almost out of the market because most of the automotive
companies shifted to other suppliers in the market. The
following tabulation shows the selling power of the top
automotive parts suppliers in the first quarter of 2019
automotive industry according to global market standings.
Company Name
Selling Power
Robert Bosch GmbH. Postfach 106050
$27.83 billion
Denso Corp
$15.45 billion
Continental AG. Vahrenwalder
$10.36 billion
Magna International Inc.
$9.98 billion
Hyundai Mobis
$5.56 billion
From the above statistical data analysis, the following
regression can be performed which can be a clear indication of

the selling power of the various automotive companies in the
world.
Fig 12
From the above statistical regression analysis, it indicates that
Robert Bosch GmbH. Postfach 106050 had a higher selling
power as compared to its top competitors with a market share of
$27.83 billion in the first quarter of 2019. The r-squared is
0.851 which shows a strong correlation between the suppliers
and the sales in the market. This selling power of the company
to some extent can be attributed to its threatening to forward
integrate to the customers where the sellers are left with no
option other than to adhere to the terms and conditions of trade
between the buyers and them that is the suppliers (Firdaus,
Amar, & Nohong, 2019). The Toyota Company has got
mechanisms in place which assists in tackling the bargaining
power of the suppliers. These include the presence of already
created an efficient supply chain with many suppliers, which
mean that it doesn’t depend on one supplier. Secondly, through
the experimentation with product designs by utilizing various
materials which help the company to shift to another material in
case the price of one material goes up, and finally, the company
has developed dedicated suppliers whose businesses depend
upon the firm (Firdaus, Amar, & Nohong, 2019). Purchasing
Power of Buyers
This is also another of Porter's force which acknowledges the
fact that, if the buyer is more powerful in relation to the seller,
and then the buyer will tend to be more influential in the
market. And that this influence can reduce the profits of the
seller via a reduction in the prices of the seller products and
services (Firdaus, Amar, & Nohong, 2019). The profits can be
reduced through increased favors to the buyers while trying to
entice them to buy the sellers’ products and services, for
instance, increased customer services as well as increased order
deliveries to the customers. However, Toyota Company has
never experienced the challenges of buyer power because of its

diversified number of customers all over Japan, North America,
Asia and other regions in the world. This allows it to be more
leeway, making it possible to ignore customer requests which
are impossible to be undertaken (Firdaus, Amar, & Nohong,
2019). For instance, the customer may request the product to a
country like Syria which is in war throughout. The Company
can look at the quantity of the vehicles requested, their return
on investment capital against the risks involved in delivering its
products to such a country and deny the other under conditions
that if the customers can import the company's products without
involving the company in any of the operations, it will be fine
with the company. The company takes such measures not
because it is satisfied with the customers, but because it just
avoids unnecessary risks (Filippini, & Forza, 2016).
Also, due to the diversification of the company's customers, it
doesn't depend on one customer to purchase its products; this
gives Toyota company the opportunity to refrain from giving
favors to the single customer as a strategy of customer retention
(Filippini, & Forza, 2016). The fragmented customer base also
allows more flexibility for the company to ignore difficult
customer requests. The following statistical analysis shows the
diversification of Toyota customers in Japan, the United States,
Asia and the World which protects it from the buyer bargaining
power.
Region
Percentage Toyota Company Customer Distribution
Japan
83.7%
United States
72%
Asia
63.2%
Globe
42.62%
The above information can be plotted in the statistical

regression analysis graph below. On average, Japan is the
leading in terms of customer distribution of the company with
83.7%, of the Toyota customers, United States is the second
with 72% of the Toyota customers index in the US, the third in
Asia, then finally the world market (Filippini, & Forza, 2016).
Fig 13
Averagely, from the above regression graphical analysis, Toyota
Company has got 54.3% market advantage of the automotive
industry a situation which exonerates it from the lowering
profits a situation that is forced by buyer power as well as the
backward integrate of buyers (Elbert, 2018).
Differences between Competitors make sure to analyze number
of competitors over the past decade, their market share, sales,
profitability and how these trends have impacted overall
industry profitability…. That will allow you to see the
attractiveness and where you might suggest they invest money
to better position themselves for the future
As a result of low switching overheads between the top
automotive industry competitors, the customers tend to exercise
a higher amount of bargaining power when it comes to their
selection of choices among the potential competitors. The
Companies which are in the top competitive position in the
automotive industry rely on the pricing power, besides the
innovations in the industry in differentiating themselves from
their potential competitors in the market (Elbert, 2018).
There are however various ways through which Toyota is
tackling the cases of bargaining power of buyers. Some of these
ways include building a diversified base of customers which
helps in curbing the bargaining power of customers besides
providing an opportunity to the company to restructure its total
revenue. Secondly, the company is gradually innovating new
products which help in limiting the bargaining power of
customers and finally, the continuous introduction of new

products into the market will help in reducing the defection of
existing customers of Toyota competitors (Edeling, & Himme,
2018).
Competitive Rivalry in Automotive Industry
The intensive competition which exists in the automotive
industry usually tends to drive down prices besides decreasing
the overall profitability of the company. From the Auto
Alliance, there are 7 main companies competing with Toyota
Company in the automotive industry. These companies include
Volkswagen Group, Daimler AG, BMW, Honda, General
Motors, Tesla Inc, and Ford Company (Edeling, & Himme,
2018). Although there are other companies approaching 80 in
the automotive industry in the world, these 7 are the one
offering direct competition to Toyota Company. Together, these
companies raise over $300.6 billion annually between there
estimated 3,480,700 employees across the world. In terms of
employees, Toyota has got over 1,268,000 employees as per the
2018 analysis and it’s ranked at the top of all the competitors
with the top 8 average number of employees being 435,088
(Debnath, 2015).
Considering the revenues of the company and its competitors,
the following analysis table can be generated.
Company Name
Average Annual Revenue
Toyota Company
$272.5 billion
Volkswagen Group
$268.6 billion
Daimler AG
$190.8 billion
BMW
$174.0 billion
Honda
$138.35 billion
General Motors
147.049 billion

Tesla Inc
$121.461 billion
Ford
$160.338 billion
From the above financial information of the following
regression graphical analysis can be done concerning the market
competition in terms of revenue of Toyota Company.
Fig 14
Fig 15
It's clear from the above statistical analysis that, the topmost
competitors for Toyota Company are Volkswagen Group and
Daimler AG automotive companies as per the regression
analysis above with annual revenues of $268.6 billion and
$190.8 billion respectively with Tesla Inc. being the least
competitors among the 8 considered automotive companies with
$121.461 billion (Debnath, 2015). Volkswagen Group and
Daimler AG automotive companies have been presented as the
major competitors due to their time to time innovations on
issues to do with automotive services development as well as
their relative competitive costs as far as their services in the
industry are a concern (Debnath, 2015). Some of the ways
through which Toyota tackles the intense rivalry among the
existing competitors in the industry include the building of
sustainable differentiation, building of scale to enhance better
competition, and partnering with the potential competitors to
expand the automotive industry market size instead of
competing for small markets.
V. SWOT Analysis
Toyota Company is a vital player in the automotive industry; it
has got several strengths which directly defines its powers in
the industry which includes the diversification of its services
around the world (Collins, 2017). Toyota Company has got both
tangible and intangible assets. For instance, Toyota has

diversified its operations to 69 economically stable countries in
the world which appears like the hotspots through which it
serves other customers in the world. As a result of Toyota's
innovation and self-growth plan, these diversified plans are
anticipated to dramatically increase to 80 plants in 80 countries
around the world (Collins, 2017). The penetration of Toyota
Company into the developing countries as well as developed
countries market has greatly contributed to its strength in the
industry. It’s also good to note that despite the strengths of
Toyota in the market, it has gone some weaknesses,
opportunities, as well as threads within the industry as they will
be discussed below.
VI. Internal Environmental Analysis notice how all of these
heading look the same; you need to differentiate between
headings, sub-headings etc.
Strengths of Toyota in the Industry
Strong Market Position and Brand Recognition
As stated in the above introduction if it was already stated there
is no need to state again…, Toyota Company has got a strong
market in terms of sales and competition besides customer
satisfaction in various nations in the world. The market share
for the company’s products that is Toyota and Lexus brands in
Japan was 46.5% in the financial year 2011/2012. In North
America, it enjoyed a market share of 15% even to the present
times. Its Asian market is 18.9% which excludes Japan and
China, and a 12.8% share in Europe. Currently, Toyota
Company is the leading in the world automotive industry market
followed by Volkswagen from Germany (Collins, Muthusamy,
& Carr, 2015). In the Chinese market, Toyota Company has got
above 9% market share with more than 14% share in Oceania,
Africa, and Middle East markets. In Central and South America,
the Company has an 8% and 9.5% market share respectively.
This strong market share allows the company to have a
significant competitive advantage in the market which further
helps it to record higher sales intensification in the local and
multinational markets. The below analytical graph illustrates

the worldwide automotive companies and their positions in the
world markets and sales volumes.
Fig 16
This was retrieved from Auto Alliance Industry Market Analysis
Records. It's clear that Toyota brand is the most recognized in
the automotive industry market followed by the Volkswagen
brand. It must be noted that the success of the Toyota brand in
the world is attributed to customer awareness, brand perception,
quality research with lots of innovations in the products of
Toyota Company, besides overall customer satisfaction besides
worldwide Company reputation. This shows the high loyalty to
the Toyota Company products (Collins, & Muthusamy, 2015).
Strong Focus on Research and Development
The Toyota Company has got a strong focus how did you
measure ‘strong’on research and development in the automotive
industry which is directly related to the innovations in the
industry. This is aimed at expanding the company’s product
portfolio besides improving the functionality, quality, as well as
standardization of all its products. The research and
development focus of Toyota is also specifically meant to
develop new products besides increasing the efficiency of the
existing ones. The research and development of Toyota
Company are being carried out in 14 designated locations in the
world. This strong focus on research and development have
greatly assisted the Toyota Company in coming up with newer
features which are incorporated to its products already in the
market besides bringing the new technologies in varied sections
(Chiarini, & Vagnoni, 2015). The innovative products which are
made as a result of the company's focus on research and
development help the Company to be the leading in terms of
sales in the market since the customers always like newly
products in the market. I see no analysis in this section…you
need to measure R&D, patents, etc relative to others in the
industry so that you can determine if this is a strength of the
company or now…..

Extensive Production and Distribution Network
Toyota Company has got a large production as well as a
distribution network. That is why it's a multinational company.
Its production besides its market is distributed globally hence a
large network of Toyota. In Japan and the world, the company
has got more than 50 manufacturing companies which are tasked
with the production of automotive related parts as well as
components (Camuffo, & Wilhelm, 2016). There are also
distribution hubs of these produced components in various
countries worldwide. For instance in financial year 2017/2018,
Toyota produced 13,875,398 vehicles cumulatively both in
Japan and outside Japan. Of these, 7,789,504 were produced in
Japan and 6,085,894 vehicles outside Japan. Despite the fact
that there might be diversification risks of the company’s
manufacturing plants, its large pool of customers through its
larger distribution networks helps the company to boost its
incomes.
Weaknesses of Toyota Company in the Automotive Industry
Declining Sales in key Geographic Segments
For the last decade, Toyota Company has witnessed a reduction
in its sales in key areas portions. In the financial year
2011/2012 for instance, there was a reduction in the Company’s
sale across North America, Asia, and Europe besides other
regions in the world which are the key markets of the
company’s products in the world (Brunner, 2017). The areas
where the declines were experience actually contribute to 60.8%
of the total company’s sales. This continuous decrease in the
sales of the company's products in its key selling portions puts
pressure on the profits of the company which can generally lead
to a negative impact on Toyota's Income.
Products Recalls Could Affect Brand Image
In recent times, Toyota Company has conducted a number of
product recalls which might negatively impact the company’s
products in the market. From the company annual reports of
2011, the company recalled about 111,000 models of Toyota
and Lexus brands of cars as a result of damaging elements of

the substrate as well as the shutdown of hybrid systems. During
the same year, the Toyota Company recalled over 182,000
vehicles in Japan following oil leakage as well as abnormal
noise (Bhatia, 2016). This led to the company's entrance into
the government records over the investigation of the recall of
these vehicles. The investigations were conducted through the
National Highways Traffic Safety Administration. The company
was subjected to a significant penalty that affected its
operational margins besides ruining the reputation of the
company on the face of the customer.
Poor Resources Allocation in Relation to Peers
Toyota Company has got a return on assets and return on equity
relatively low as compared to other companies in the
automotive industry. Companies like Honda as well as Nissan
Motors has got a higher return on equity compared to Toyota
since Honda has 4.8%, with Nissan Motors registering an ROE
of 8% but Toyota registered only 2.7% of ROE (Barron, Pereda,
& Stacey, 2017). This indicates that the Toyota Company might
not be using the stakeholders’ resources as required which
implies that it’s not generating high returns for its stakeholders.
This poor allocation of stakeholders’ equity might hurt the
stakeholder’s value and confidence in the long term.
VII. Environmental and Industry Analysis
Opportunities of Toyota Company in Automotive Industry
Glowing Global Automotive Industry
The economic downturn following the Euro Crisis negatively
impacted the automotive industry in the year 2008 and 2009.
The strong ricochet however of 2011 which continued to 2012
have highly revived the automotive industry which was in its
lowest state economically. As per the MarketLine, the world
automotive production industry rose by 9% in the 2012 financial
year. This recovery of the automotive industry, therefore,
provided Toyota Company since then a great opportunity to
acquire more customers which have to lead to and will always
ensure that Toyota Company has an increased income (Ariffin,
& Sahid, 2018).

Strong Outlook for the Global New Car Market
Although the automotive industry experienced somehow a
gradual growth from 2008 to 2012, the automotive market
industry experienced an acceleration in 2012 to 2016 periods.
From the market projections, the industry acceleration will
always continue to increase in the same trend, thus a strong
outlook of the global automotive industry market together with
the new innovations of Toyota Company and products launches
also provides a growth opportunity for the company as far as the
market is a concern. There is also opportunity in the continuous
growth of automotive products in the developing countries
markets.
Threats of Toyota Company in Automotive Industry
Intense Competition
The global automotive industry market is highly competitive;
this creates pressure on Toyota Company from various
manufacturers in the industry. It’s projected that as a result of
continued globalization and consolidation in the global
automotive industry, the competition will be intensified further
with new entrants into the industry as well as the establishment
of new features of the products in the industry. Although Toyota
has highly invested in innovation, competition from other
automotive companies is also projected to be very high. Some
of the features that are the likely key determinants of the
tomorrow automotive market include fuel efficiency, pricing,
the liability of the products, as well as safety measures. This
projected competition may lead to lower vehicle unit sales as
well as increased stocks which will negatively impact the
Toyota Company financials (Adjei, & Adjei, 2017).
Fig 17
From the above automotive industry market competition
analysis, it shows a stiff competition in the market. Although
Toyota is the leading in the market share, it must embrace

innovations as well as enacting strategic moves which will
enable it to maintain its top position in the industry.
Appreciating Japanese Yen is also a Major Concern
The fluctuations in foreign currency exchange rates are one of
the sensitive areas of great concern of Toyota Company. This is
primarily targeted fluctuations in the value of Japanese Yen, the
United States Dollar as well as Euro (Aoki, & Wilhelm, 2017).
The continued strengthening of the Japanese Yen against the
United States Dollar besides the continuous fluctuations in the
foreign currencies is of a great threat to Toyota Company for
this will have an adverse impact on the Company’s reported
operating results which further impacts the company
valuation.VIII. Industry and Environmental Conclusion
In conclusion, Toyota Company specializes in automotive
products starting from parts to the final products which are
vehicles of various models. This company enjoys a healthy
automotive industry market due to its continuous innovations
besides being customer oriented. Their products depict highly
advanced use of technology. This has resulted in a preference of
customer across the work on Toyota's products. Currently,
Toyota is the leading in the automotive industry in the world,
with its main market being Japan, North America, and Asia.
Like any organization which is in business, Toyota Company
faces some environmental forces which impact its operation
positively or negatively as discussed above.

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SUMMARY OUTPUT
Regression Statistics
Multiple R 0.638382169
R Square 0.407531794
Adjusted R Square 0.322893479
Standard Error 3400.830789
Observations 9
ANOVA
dfSSMSFSignificance F
Regression 155688373.655688373.64.814979990.064269
Residual 780959550.411565650.06
Total 8136647924
CoefficientsStandard Errort StatP-valueLower 95%Upper
95%Lower 95.0%Upper 95.0%
Intercept -934744.4428509.7777-2.1813840630.06550672-
194800978520.21-194800978520.21
1942481.7219.52268352.1943062660.06426892-
37.38871000.789-37.38871000.789
RESIDUAL OUTPUT

Observation Predicted 10000Residuals
11680.45319.6
22643.8356.2
33607.2-1151.2
44570.6-2880.6
55534-3967
66497.4-2810.4
77460.8-504.8
88424.21568.8
99387.64069.4
SUMMARY OUTPUT
R Square 0.986201692
Observations 8
ANOVA
Regression 185571488.185571488.1428.8359358.25E-07
Residual 61197261.905199543.6508
Total 786768750
Intercept -2850146.429138855.1092-20.52604658.6966E-07-
3189913-2510380-3189913-2510380
20101427.38095268.9277832620.708354248.2525E-
071258.7211596.0411258.7211596.041
RESIDUAL OUTPUT
Observation Predicted 20000Residuals
120316.66667183.3333333
221744.04762-744.047619
323171.4285728.57142857
424598.80952401.1904762
526026.19048273.8095238
627453.57143446.4285714

728880.95238-280.952381
830308.33333-308.3333333
SUMMARY OUTPUT
R Square 0.968109174
Observations 8
ANOVA
Regression 145.3648214345.36482143182.1418841.03E-05
Residual 61.4943785710.249063095
Total 746.8592
Intercept 2104.181071155.130644913.563929129.963E-
061724.592483.7721724.592483.772
2010-1.0392857140.077006972-13.495995111.0259E-05-
1.22771-0.85086-1.22771-0.85086
RESIDUAL OUTPUT
Observation Predicted 15.8Residuals
114.17750.7425
213.138214290.061785714
312.09892857-0.448928571
411.05964286-0.699642857
510.02035714-0.210357143
68.981071429-0.051071429
77.9417857140.208214286
86.90250.3975
SUMMARY OUTPUT
R Square 0.642871979

Observations 9
ANOVA
Regression 15.93071E+145.93071E+1412.60081420.009347
Residual 73.29463E+144.70661E+13
Total 89.22534E+14
Intercept -63093382091783767924-3.5370846870.00950697-
1.1E+10-2.1E+09-1.1E+10-2.1E+09
20093143965.932885683.44483.549762560.0093467210496575
23827410496575238274
RESIDUAL OUTPUT
ObservationPredicted 12476390Residuals
110033315.394750986.615
213177281.324113307.683
316321247.25-16301780.22
419465213.184098572.818
522609179.112295710.886
625753145.05892177.9532
728897110.98-894765.9791
832041076.91446925.0886
935185042.84598865.1562
SUMMARY OUTPUT
Multiple R0.996703
R Square0.993417
Adjusted R Square0.99232
Standard Error0.010612
Observations8
ANOVA
Regression10.1019720.101972905.4458.94E-08
Residual60.0006760.000113
Total70.102648

Intercept-98.61673.298775-29.8959.29E-08-106.689-90.5449-
106.689-90.5449
20100.0492740.00163830.090618.94E-
080.0452670.0532810.0452670.053281
RESIDUAL OUTPUT
ObservationPredicted 0.45Residuals
10.4729170.007083
20.522190.00781
30.571464-0.00146
40.620738-0.01074
50.670012-0.01001
60.719286-0.00629
70.76856-0.00356
80.8178330.017167
SUMMARY OUTPUT
R Square 0.926399609
Observations 10
ANOVA
Regression 1274057982.9274057982.9100.69507458.2715E-06
Residual 821773297.992721662.248
Total 9295831280.9
Intercept -3649758.406365714.5307-9.9798014568.61727E-06-
4493097.63-2806419-4493098-2806419
Year 1822.612121181.631069610.034693548.27146E-
061403.770122241.4541403.772241.454
RESIDUAL OUTPUT
ObservationPredicted Annual Net Income (billion Japanese
Yen) Residuals

111869.345452583.654545
213691.95758871.0424242
315514.5697-538.569697
417337.18182-1447.181818
519159.79394-2203.793939
620982.40606-1339.406061
722805.01818-1049.018182
824627.6303304.369697
926450.242421146.757576
1028272.854551672.145455
Student: Gauchan-Susant-20190628-2315
Student Submission File: <assg-04.cpp>
Programming Assignment 04
Due Date: 06/28/2019
Grade: 0/100
Grading Rubrics
---------------
yes - successfully compiles
yes - successfully runs
yes - uses command line arguments as requested
no - outputs information asked for in assignment, outputs hit
ratios
each time step as shown.
no - runs all test cases without crashes or runtime errors

no - passes test cases
yes - correctly identifies a page "hit", nothing done for a hit
memory reference.
no? - simple FIFO page replacement working treating memory
as circular buffer
yes - LRU page replacement algorithm correctly identifying and
replacing least recently used page from memory on miss
no - formatting and style sufficiently conform to class coding
standards
yes - program and function headers are present, function
headers
document parameters and return values
no - program indentation is correct, 2 spaces for each level,
used spaces and not tabs, indentaiton is consistent and
correct
Comments
--------
Unfortunately this program is a duplicate of a program
submitted
by other students for this assignment.
Program compiles with some warnings (unused variables).
Program runs
but appears that on at least some test cases program crashes in
my environment,
most likely due it looks like to some memory access issues in
the program.

Looking at first fifo simulation, looks like the simulation was
correct and
final contents of frames were correct. Did not match the output
to calculate
the hit ratio, though did report number of page faults at end,
which looked
correct. However the second fifo test crashes at time 5 for me in
my environment
(gdb) r pagestream.sim fifo 4
Program received signal SIGSEGV, Segmentation fault.
0x00005555555553c7 in fifo (framesize=4, numref=12,
pagestream=0x7fff00000005) at assg-04.cpp:51
51 cout<<"Page : "<<pagestream[time]<<endl; //print page
(gdb) p time
$1 = 5
(gdb) p pagestream
$2 = (int *) 0x7fff00000005
(gdb) p pagestream[time]
Cannot access memory at address 0x7fff00000019
In the debugger, reporting crash on line 51 of your submitted
program
Ok I see the issue. You may or may not see this crash in your
compiler/environment because it is a memory
creation/management
issue. You create a badly named array simply called temp
at the top of your fifo() function like this:
int n=numref,m=framesize,pagefault=0,k,j,time; //temp
variables
int temp[m];// to store frames allocated
I don't know why C/C++ compiler doesn't complain about this,

but this
is a no no. You are iniitalizing the temp array here with a non
constant
value. It is unsafe to create statically allocated arrays like this,
and compilers really should be able to detect and not allow this.
When createing an array, if you create it statically, always use
a constant value, like
int temp[MAX_PAGE_REFERENCES];
This will fix the crash. If you really need to create an array
based on
a value you determine at runtime, you need to learn to use
dynamically
allocated memory. This would also word and would be safe:
int* temp = new int[framesize];
The issue is subtle, but the way you have it the compiler
allocates
size for the array somewhere during compile time. But the size
of
m or the framesize is unknown, so it is actually allocating a 0
sized
array (I think). So when you initialize temp to -1, you actually
end up writing over other parts of memory because temp was
not
correctly allocated for you here.
I see though that though the first fifo test with 3 frames was
correct,
your second test failed at time 3 when you incorrectly put page
1 into
the 4th frame. You may have a bug here where not handling the
different
number of frames for the simulation correctly.

The first lru test looked correct, though again not matching the
output, you
do calculate a hit ratio at the end and display it. In fact it looks
like all
of your lru simulations are correct, thoush hit ratio is
miscalculated in
some cases.
Program style is unacceptable and does not meet class style
guidelines.
This is one reason you are required to do these assignment on
your own,
so that you learn about these issues. Program has no
indentation
as submitted. You need to use 2 spaces no tabs for all
indentation,
and learn to use your IDE/editor settings to create correct
indentation for you.
Your variable names need to be better. Why are you renaming
numref and framesize
to n and m? This just makes your code incomprehensible with
lots of
unreadable single letter variables. One cannot easily
determine the intention of your program without going through
and
working out what the variables are used for and then renaming
them to
something meaningful. Use meaningful variable names, and
avoid single
letter variables for anything except maybe for a index/counter
for a loop
only.
Program Compilation

-------------------
Attempting to compile student submission: <assg-04.cpp>
$ g++ -g -std=c++11 -Wall -Werror assg-04.cpp -o p4
assg-04.cpp: In function ‘void fifo(int, int, int*)’:
assg-04.cpp:43:5: warning: unused variable ‘n’ [-Wunused-
variable]
int n=numref,m=framesize,pagefault=0,k,j,time; //temp
variables
^
assg-04.cpp: In function ‘void lru(int, int, int*)’:
assg-04.cpp:102:19: warning: unused variable ‘nop’ [-Wunused-
variable]
int i,pagefault=0,nop=numref,time;
^~~
Program Execution Test Summaries
--------------------------------
Files student-pagestream-fifo-3.res and pagestream-fifo-3.res
differ
Files student-pagestream-fifo-4.res and pagestream-fifo-4.res
differ
Files student-pagestream-lru-3.res and pagestream-lru-3.res
differ
Files student-pagestream-lru-4.res and pagestream-lru-4.res
differ
Files student-test-pagestream-fifo-4.res and test-pagestream-
fifo-4.res differ
Files student-test-pagestream-fifo-6.res and test-pagestream-
fifo-6.res differ
Files student-test-pagestream-lru-4.res and test-pagestream-lru-
4.res differ
Files student-test-pagestream-lru-6.res and test-pagestream-lru-
6.res differ

Test/Simulation Results
-----------------------
=========================== pagestream.sim fifo 3
============================
Student Output for pagestream.sim:
--------------------------------
Time : 0
Page : 2
Frame 1 : 2
Frame 2 : 0
Frame 3 : 0
Time : 1
Page : 3
Frame 1 : 2
Frame 2 : 3
Frame 3 : 0
Time : 2
Page : 2
Frame 1 : 2
Frame 2 : 3
Frame 3 : 0
Time : 3
Page : 1
Frame 1 : 2
Frame 2 : 3
Frame 3 : 0
Time : 4

Page : 5
Frame 1 : 5
Frame 2 : 3
Frame 3 : 0
Time : 5
Page : 2
Frame 1 : 5
Frame 2 : 2
Frame 3 : 0
Time : 6
Page : 4
Frame 1 : 5
Frame 2 : 2
Frame 3 : 4
Time : 7
Page : 5
Frame 1 : 5
Frame 2 : 2
Frame 3 : 4
Time : 8
Page : 3
Frame 1 : 3
Frame 2 : 2
Frame 3 : 4
Time : 9
Page : 2
Frame 1 : 3
Frame 2 : 2
Frame 3 : 4
Time : 10

Page : 5
Frame 1 : 3
Frame 2 : 5
Frame 3 : 4
Time : 11
Page : 2
Frame 1 : 3
Frame 2 : 5
Frame 3 : 2
Total Page Faults 9
Results of diff from correct answer:
------------------------------------
Time : 0 Time: 0
Page : 2 Page: 2
Frame 1 : 2 Frame1: 2
> Hit ratio: 0 / 12
(0)
>
Time : 1 Time: 1
Page : 3 Page: 3
> Hit ratio: 0 / 12
(0)
>
Time : 2 Time: 2
Page : 2 Page: 2

> Hit ratio: 1 / 12
(0.0833333)
>
Time : 3 Time: 3
Page : 1 Page: 1
Frame 3 : 0 | Frame3: 1
> Hit ratio: 1 / 12
(0.0833333)
>
Time : 4 Time: 4
Page : 5 Page: 5
> Hit ratio: 1 / 12
(0.0833333)
>
Time : 5 Time: 5
Page : 2 Page: 2
> Hit ratio: 1 / 12
(0.0833333)
>
Time : 6 Time: 6
Page : 4 Page: 4

> Hit ratio: 1 / 12
(0.0833333)
>
Time : 7 Time: 7
Page : 5 Page: 5
> Hit ratio: 2 / 12
(0.166667)
>
Time : 8 Time: 8
Page : 3 Page: 3
> Hit ratio: 2 / 12
(0.166667)
>
Time : 9 Time: 9
Page : 2 Page: 2
> Hit ratio: 3 / 12
(0.25)
>
Time : 10 Time: 10
Page : 5 Page: 5

> Hit ratio: 3 / 12
(0.25)
>
Time : 11 Time: 11
Page : 2 Page: 2
> Hit ratio: 3 / 12
(0.25)
Total Page Faults 9 <
=========================== pagestream.sim fifo 4
============================
Student Output for pagestream.sim:
--------------------------------
Time : 0
Page : 2
Frame 1 : 2
Frame 2 : 0
Frame 3 : 0
Frame 4 : 0
Time : 1
Page : 3
Frame 1 : 2
Frame 2 : 3
Frame 3 : 0

Frame 4 : 0
Time : 2
Page : 2
Frame 1 : 2
Frame 2 : 3
Frame 3 : 0
Frame 4 : 0
Time : 3
Page : 1
Frame 1 : 2
Frame 2 : 3
Frame 3 : 0
Frame 4 : 1
Time : 4
Page : 5
Frame 1 : 2
Frame 2 : 3
Frame 3 : 0
Frame 4 : 1
Time : 5
Results of diff from correct answer:
------------------------------------
Time : 0 Time: 0
Page : 2 Page: 2
> Hit ratio: 0 / 12
(0)

>
Time : 1 Time: 1
Page : 3 Page: 3
> Hit ratio: 0 / 12
(0)
>
Time : 2 Time: 2
Page : 2 Page: 2
> Hit ratio: 1 / 12
(0.0833333)
>
Time : 3 Time: 3
Page : 1 Page: 1
> Hit ratio: 1 / 12
(0.0833333)
>
Time : 4 Time: 4
Page : 5 Page: 5

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