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[DOC] Letter to Toyota Chairman Fujio Cho from Trillium Asset Management & Domini Social Investments regarding Toyota group investments in Burma
Author: Susan Baker Martin, Trillium Asset Management & Adam Kanzer, Domini Social Investments, Published on: 14 November 2007
We are writing to Toyota Motor Corporation because Toyota’s business ties to the military regime in Burma present a notable material risk to the reputation of the Toyota brand and long-term shareholder value... Toyota Motor Corporation’s trading partner, Toyota Tsusho, manufactures and sells vehicles in Burma through its joint venture partnership with Suzuki Motor Corporation and the Myanmar Auto & Diesel Engine Industries (MADI). MADI is the military government-run enterprise under the Ministry of Industry. As Toyota Tsusho’s largest shareholder, your 21.57% ownership represents a significant interest in its operations. Given the present turmoil in Burma, we question whether it is possible for Toyota to maintain a material interest in Toyota Tsusho and its joint venture with MADI without supporting the military regime and its egregious abuses of human rights... We request a report from our company providing evidence of its efforts to condemn the military crackdown, and steps it will take to reduce the risk of harming the Toyota brand and long term shareholder value.
[The Business & Human Rights Resource Centre invited Toyota to respond to this letter; Toyota has not responded.]