Tag: Japanese

  • Interesting Facts You Probably Didn’t Know About Sony

    As one of the largest manufacturers of consumer and professional electronic products, the largest video game console company and the largest video game publisher in the world, it should come as no surprise that Sony has started with selling rice cookers. But fully failed on the market. There are nuggets of information that you perhaps haven’t heard of. Here’s a short collection of the 6 most interesting facts about Sony.

    Interesting Facts About Sony

    1. The Story behind Sony
    2. Sony Walkman revolutionized the Music world
    3. The Story of Sony PlayStation
    4. Sony Bizarre Creations
    5. Sony is famous for Innovations
    6. Sony’s Staff Uniforms in the 70s and 80s

    15 Facts About Sony

    The Story behind Sony

    Akio Morita and Masaru Ibuka are the one who made Sony.
    Akio Morita and Masaru Ibuka are the one who made Sony.

    Sony was founded by Akio Morita and Masaru Ibuka in 1946. Initially, the company was called TTK or Tokyo Tsushin Kogyo. But later the name “Sony” was chosen for the brand as a mix of two words: one was the Latin word sonus, which is the root of sonic and sound, and the other was sonny, a common slang term used in 1950s America to call a young boy. While on the contrary, “sonny boys” is a loan word used in 1950s Japan to call smart and presentable young men.

    There was a student because of whom Sony became what it is today. But do you know how it started to focus its efforts to make its audio reception and quality better? All the credit can be given to an opera student at the Tokyo Academy of Art. This student complained to the founders about the bad quality of its first batch of sound recorders. The founders were impressed with him and happy about the critique. They eventually hired the boy to make an improvement in the product.

    Sony Walkman revolutionized the Music world

    Sony Walkman - Facts about Sony
    Sony Walkman

    The idea of Walkman was never something that any executive at Sony was keen for. This was a product that revolutionized music world. It changed the way we hear music. This was the reason it went on ‘to be sold’ for 31 years. The Walkman was sold as “Soundabout” in the US, “Stowaway” in the United Kingdom, and “Freestyle” in Australia.

    The reason behind this was that overseas sales companies thought the name as Japanese-English. Sony America initially suggested the name “Sony Disco Jogger”.

    Sony is not just a company that makes for the living rooms but has also produced electronics for those who are behind bars. This issue is known as the prison-issue Walkman SRF-39FP. FP stands for Federal Prison.

    It comes with a transparent body. A see-through case prevents the inmates from hiding any contraband inside. But despite their inability to store devices. These small boxes were capable to pick up radio signals through the walls along with a battery backup of 40 hours.

    The company started producing pocket radios in the late 1950s and claimed it was the world’s smallest radio. However, the problem which the company faced was the radios were too big to fit in shirt pockets. To get around this obstacle, custom-made shirts with larger pockets were ordered for its salesmen, to make the radios look pocket-fit.


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    The Story of Sony PlayStation

    Sony PlayStation - Facts about Sony
    Sony PlayStation

    Nintendo actually signed an agreement with Sony to manufacture an add-on device that could play CDs (Compact Disks) for their Nintendo console. But there were some complications between Nintendo and Sony over software licensing for the newly developed add-on device. So, the partnership fell off all of a sudden.

    Then, Sony went ahead and worked on the new console on its own. It was 1994 when Sony released the first PlayStation console. And, the rest is history.

    Sony Bizarre Creations

    Sony Chorocco

    One of the bizarre creations that Sony could never make it to the market was Chorroco, a mini plastic VW campervan that sat on the vinyl record and played music through its speaker as it drove around it.

    In 1998, Sony made a fool of itself by releasing a camcorder with night vision. What was so special about this? The camera could be used to see through the clothes. Anyone who wore dark clothes would be exposed. It used Infra-Red light. The company however recalled the product despite selling over 70,000 pieces.

    Sony is famous for Innovations

    Sony was famous for its inventions. They always looked towards developing newer things. Sony was the developer of compact disks and floppy disks in association with other companies. Sony had some impacts on the development of flask drives.


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    Sony’s Staff Uniforms in the 70s and 80s

    Issey Miyake is one of the famous fashion designers of Japan known for his technology-driven clothing designs.
    Issey Miyake is one of the famous fashion designers of Japan known for his technology-driven clothing designs.

    Let me tell you one of the fun facts about Sony. Sony had implemented a dress code during the late ’70s and early ’80s. Issey Miyake, a fashion designer in Japan, designed the uniform for all the staff of Sony.

    Interestingly, the iconic black turtlenecks worn by Steve Jobs were also designed by Issey Miyake. And, getting inspired by the idea of Sony uniform, Steve Jobs actually tried to implement a new dress code for his Apple employees as well. But nobody liked the idea of a uniform at Apple.

    Conclusion

    It would be hard to find anyone that doesn’t know about Sony or has not even heard of it. If you have read the post above, then you will know that Sony has gone through a lot of breakthroughs and setbacks.

    Despite being surrounded by naysayers, Sony is making highly innovative technologies and products available to us on a consistent basis. We hope they will continue to do so.

    FAQs

    What is unique about Sony?

    Sony is an electronics manufacturer who has gone above what many other electronic companies value, as such Sony has brought us many great inventions which have benefited mankind. Sony continues to innovate and be a world-class leader in reliable electronics, with that elegant and ergonomic Sony style.

    What is Sony famous for?

    Sony designs and sells electronic equipment, consumer electronics products, home entertainment products, mobile communication devices and imaging products and services.

    How did Sony get its name?

    Sony, which became the official name for the company in January 1958, was derived from the Latin word “sonus” (sound) and was conceived to be an international and not a Japanese term.

    Which country made Sony?

    Sony is a Japanese company.

    Why did Sony fail?

    The high price tag is undoubtedly a major flaw in Sony’s phones. They have poor battery life and charging speed. Low specs even for flagships. Poor sound quality and damn signal plus weird design.

    Who founded Sony?

    Sony was founded by Akio Morita and Masaru Ibuka in 1946.

    What was first product of Sony?

    The TR-55 was the first product to be labeled with the brand name as Sony.

  • Success Story of Yamaha Motor – How it Started & Became a Market Leader

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Yamaha Motor.

    Indian’s love for two-wheelers is not unknown. As per reports by ReaserchAndMarkets, com, the sales volume of two-wheelers in India is expected to rise to 24.89 Million units by 2024, from 21.19 Million Units in 2019. India is one of the largest Motorcycle Markets in the world. Another 2019 report claims that the two-wheeler market in India is mostly dominated by motorcycles, as motorcycles occupy two-thirds of the two-wheeler market segment in India, followed by scooters and mopeds.

    When it comes to two-wheelers, one Japanese brand that Indians are really loving is Yamaha. Yamaha Motor forayed into India in 1985, and since then the company has become a popular name in the Indian two-wheeler market. Here is the Story of Yamaha Motor.

    Company Name Yamaha Motor
    Headquarters Shizuoka, Japan
    Sector Automotive
    Founders Genichi Kawakami
    Founded 1955
    Website yamaha-motor.com

    About Yamaha Motor
    Yamaha Motor – Startup Story
    Yamaha Motor- Founder and CEO
    Yamaha Motor – Tagline and Logo
    Yamaha Motor – Revenue Model
    Yamaha Motor – Competitors
    Yamaha Motor- Growth & Future Plans

    About Yamaha Motor

    Though well known in India as a two-wheeler manufacturer, Yamaha Motors is more than a two-wheeler manufacturer. Apart from scooters and motorcycles, Yamaha Motors manufactures motorized products and marine vehicles as well. Yamaha’s wide range of products includes scooters, motorcycles, motorized bicycles, sailboats, water scooters, fishing boats, outboard motors, 4-wheeler ATVs(All -Terrain-Vehicles), racing cars, water pumps, drones.

    Yamaha Corporation which was the parent organization of Yamaha Motors, and still is a major shareholder in Yamaha Motors offers a wide range of products and services too. Yamaha Corporation products include various network devices, unified communication solutions, automobile interior components, and various electronic components and devices.


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    Yamaha Motor – Startup Story

    The history of Yamaha Motor dates back to 1897 when Nippon Gakki Co. was formed. Nippon Gakki Co. was established as a reed organ (a kind of musical instrument) manufacturer by Torakusu Yamaha. In 1900, the company also started manufacturing pianos. Nippon Gakki Co was renamed Yamaha Corporation in 1987 after the name of its founder Torakusu Yamaha. Starting as a manufacturer of musical instruments, Yamaha grew to become one of the leading manufacturers of electronic items as well.

    During World War 2, Nippon Gakki Co. was manufacturing aircraft propellers and other war-related equipment. After the war ended, and Japan regained its sovereignty in 1952, the then President of  Nippon Gakki Co., Genichi Kawakami started to look for ways to put the machines the company used during world war to some good use. After going through several ideas, it was decided that Nippon Gakki Co. will now start manufacturing motorcycles. Motorcycle engineers at Nippon Gakki started developing its first motorcycle by taking inspiration and references from German manufacturer DKW. In 1954, Nippon Gakki’s first prototype of the “YA-1″ motorcycle was complete. In February 1955, Nippon Gakki Co.’s YA-1 motorcycles were out in the market for sale.

    On July 1st, 1955, the Motorcycle division was separated from Nippon Gakki Co. and was renamed Yamaha Motor Co. Ltd.

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    Yamaha Motor- Founder & CEO

    Founder, Yamaha

    Genichi Kawakami was the eldest son of Kaichi Kawakami who was the President of Yamaha (then Nippon Gakki Co.) since 1927. Genichi graduated from Takachiho College of Commerce. Genichi joined the Nippon Gakki Co. in 1937. Genichi was the person behind the inception of Yamaha Motors. He served as the president of Yamaha Corporation(then Nippon Gakki Co.) from 1950 to 1977 and again from 1980 to 1983. Genichi wrote several books on music and is also the man behind starting Yamaha Music Schools. Yamaha Music Schools is present across 40 countries now. Genichi quoted “If you’re going to do something, be the best.” and his works were guided by this very philosophy.

    Currently, Yoshihiro Hidaka is the CEO of Yamaha Motor. Yoshihiro joined Yamaha Motor in 1987 and took charge as a CEO in 2018.


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    Yamaha Motor’s tagline is, ‘Revs your Heart‘.

    Logo, Yamaha

    Yamaha’s logo depicts three tuning forks. The logo as per Yamaha’s official site represents the three main pillars of Yamaha’s business i.e, Technology, Production, and Sales. The Tuning Forks also marks Yamaha’s leadership in the field of Music. The three tuning forks symbolize Melody, Harmony, and Rhythm, which are the three essential elements of music.    

    Yamaha Motor – Revenue Model

    Yamaha Motor’s main sources of revenue include:

    • Revenue from the sale of products like two-wheelers, boats and marine vehicles, drones, engines, robotic products, golf cars, snowblowers, electric wheelchairs, etc. Yamaha Motors also sells various biking apparel and accessories.
    • Revenue from the sale of spare parts.
    • Revenue from After-sales service.
    • Revenue from financial services like sales finance and leases related to the company’s products.

    Yamaha Motor products are available through dealers. In India alone, Yamaha Motor has over 2200 customer touchpoints and more than 500 dealers. Customers can book the vehicles online. Yamaha’s spare parts and engines can be bought online.


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    Yamaha Motor – Competitors

    The top competitors of Yamaha Motor are Honda, Harley Davidson, Royal Enfield, and Ducati.

    Honda

    Honda is the top competitor of the company Yamaha. The company is headquartered in Minato-ku, Tokyo, Japan, and was founded in 1947. As of 2019, Honda became the world’s largest manufacturer of motorcycles, as well as the world’s largest manufacturer of internal combustion engines.

    Suzuki

    Suzuki Motor Corporation is one of the top competitors of the company Yamaha. The company is headquartered at Hamamatsu-shi, Shizuoka, and was founded in 1909. Suzuki deals in automobiles, motorcycles, ATVs, marine engines, etc.

    Harley Davidson

    American motorcycle manufacturer Harley Davidson. It is not only one of the largest motorcycle manufacturers but also has a loyal fan following.

    Royal Enfield

    Indian multinational motorcycle manufacturing brand Royal Enfield is one of the oldest global motorcycle brands that are still in production. The first Royal Enfield was manufactured in 1901.

    Ducati

    Audi-owned Ducati is yet another popular motorcycle manufacturer.

    Yamaha Motor – Growth & Future Plans

    Yamaha Motor is one of the largest sellers of motorcycles and water vehicles. Yamaha Motor today sells its products in 180 countries and regions outside Japan. The company has 132 consolidated subsidiary companies, 4 non-consolidated subsidiaries, and 28 affiliates as of December 2021.  Yamaha Motor is maintaining a constant increase in revenue. In 2018 Yamaha Motors reported annual revenue worth $15.226 Billion. While in 2019, the annual revenue increase by 0.59% to reach $15.316 Billion. However, the company too suffered due to the Covid 19 led crisis, which led to a decrease in annual revenue. In 2020, Yamaha Motor’s revenue stood at $13.83 Billion, and in 2021, it stood at $11.724 billion, which is a sharp 9.7% decline from the previous year.

    In India, Yamaha Motor reported a 33% growth in sales in December 2020, as compared to December 2019. In January 2021, also Yamaha reported a 53.57% growth in sales as compared to January 2020. From July 2020 to December 2020, Yamaha Motors India reported 40.61 % Month-on-Month Growth. In the year ending 31st December 2020, India Yamaha Motor reported revenue of over 500 Cr in  INR.

    Regarding the future plans of the company, Yamaha Motor India wants to capture around 9% of the two-wheeler market segment from its current 4% share. To achieve this Goal, Yamaha Motor India is working to strengthen its product portfolio and introduce new products in the 125cc scooter and 150cc and 250cc motorcycle categories.  Besides opening new retail outlets, Yamaha Motors India is also planning to organize more on-ground activities to let its customers test-drive and take a feel of the company’s products.  

    Globally, Yamaha Motors has loftier plans. The company is taking steps to reduce Co2 emissions during production. It is also planning to introduce a range of electric vehicles. Long-term plans include the development of unmanned transportation and agricultural equipment and newer and innovative forms of mobility.

    FAQs

    Yamaha Motor is based in which Country?

    Yamaha Motor is a Japanese Company.

    Are Yamaha Bikes made in India?

    In India, Yamaha has 3 manufacturing plants, one each in Surajpur (UP), Faridabad(Haryana), and Kanchipuram (Tamil Nadu). The two-wheelers and spare parts manufactured in these plants are used domestically in India and are also exported.

    Who is the CEO of Yamaha Motor?

    Yoshihiro Hidaka is the CEO of Yamaha Motor

  • Toyota Motors Plans to Design Special Electric Vehicles

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    Toyota Motor Corporation is a Japanese multinational manufacturer headquartered in Toyota, Aichi, Japan.  In 2017, Toyota’s corporate structure consisted of 364,445 employees worldwide and, as of December 2019, was the tenth-largest company in the world by revenue.

    Toyota is the largest automobile manufacturer in Japan, and the second-largest in the world behind Volkswagen, based on 2018 unit sales. Toyota was the world’s first automobile manufacturer to produce more than 10 million vehicles per year, which it has done since 2012, when it also reported the production of its 200 millionth vehicle.

    Toyota Motor – Company Highlights

    Startup Name Toyota Motor Corporation
    Headquarters Toyota City, Japan
    Industry Automotive
    Founders Kiichiro Toyoda
    Founded August 28, 1937
    CEO Akio Toyoda
    Website www.global.toyota

    Toyota Motor – About and How it works?
    Toyota Motor – Logo and its meaning
    Toyota Motor – Founder and History
    Toyota Motor – Mission
    Toyota Motor – Business Model
    Toyota Motor – Revenue and Growth
    Toyota Motor – Funding and Investors
    Toyota Motor – Investments
    Toyota Motor – Acquisitions
    Toyota Motor – Competitors
    Toyota Motor – Challenges Faced
    Toyota Motor – Future Plans

    Toyota Motor – About and How it works?

    Toyota Motor Corporation (Toyota), incorporated on August 27, 1937, conducts business in the automotive industry. The Company also conducts business in finance and other industries. The Company’s segments include Automotive, Financial Services and others. Toyota sells its vehicles in approximately 190 countries and regions. Toyota’s markets for its automobiles are Japan, North America, Europe and Asia.

    Toyota produces automobiles, and related parts and components through approximately 50 overseas manufacturing companies in over 30 countries and regions besides Japan. Toyota’s manufacturing facilities include plants in Japan, the United States, Canada, the United Kingdom, France, Turkey, Thailand, China, Taiwan, India, Indonesia, South Africa, Australia, Argentina and Brazil.

    The Company’s Financial Services segment consists of providing financing to dealers and their customers for the purchase or lease of Toyota vehicles. Toyota’s financial services also provide retail instalment credit and leasing through the purchase of instalment and lease contracts originated by Toyota dealers. Toyota’s subsidiary, Toyota operates financial services companies in approximately 40 countries and regions, which support its automotive operations across the globe. Toyota Motor Credit Corporation is Toyota’s principal financial services subsidiary in the United States.

    The other segment includes the design, manufacturing and sale of housing, telecommunications and other businesses. Its information technology related businesses include a Web portal for automobile information.

    Toyota Motor – Logo and its meaning

    The overlapping of the two perpendicular ovals inside the outer oval symbolize “T” for Toyota, as well as a steering wheel, representing the vehicle itself. The outer oval symbolizes the world embracing Toyota.

    Toyota Logo
    Toyota Logo

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    Toyota Motor – Founder and History

    Kiichiro Toyoda is the founder of Toyota Motor.

    Founder of Toyota Motor Corporation
    Founder of Toyota Motor Corporation

    In 1933 Toyoda Kiichiro founded what later became the Toyota Motor Corporation as a division of the Toyoda Automatic Loom Works, Ltd. (later Toyota Industries Corporation, now a subsidiary), a Japanese manufacturer founded by his father, Toyoda Sakichi.

    Its first production car, the Model AA sedan, was released in 1936. The following year the division was incorporated as the Toyota Motor Company, Ltd., headed by Kiichiro. (The company’s name was changed to Toyota, which has a more pleasing sound in Japanese.) Toyota subsequently established several related companies, including Toyoda Machine Works, Ltd. (1941), and Toyota Auto Body, Ltd. (1945).

    Toyota Motor – Mission

    Toyota’s corporate mission is “to make ever-better cars, to build a future where everyone has the freedom to move.” This mission statement is a combination of the company’s official statements regarding the mission of its business: “to build a future where everyone has the freedom to move” and “to make ever-better cars.” Toyota’s corporate mission statement has the following key elements that reflect the enterprise and the purpose and goals of its business:

    1. Make ever-better cars
    2. Build an inclusive future
    3. Freedom to move for everyone

    Toyota Motor – Business Model

    Toyota’s operation has been analysed based on those 4Vs below :

    • Volume of Processes : Toyota manufactures numerous vehicles (8,736.5 thousand units in 2012, Toyota Production figures) and for such high output, there’s greater degree of repeatability in the process. The high volume of output has allowed Toyota in systematization of activities and Toyota believes in developing deep expertise in specialities among its workforce as an essential requirement to its product-development system. Such high volume process output helps Toyota gain economies of scale and thus reduces the unit cost of its production.
    • Variety of Processes : Toyota carefully chooses a variety to balance market demands and operational efficiency. The company is present in all the segments of automotive and at least 70 different models of vehicles are sold by Toyota (Automotive, 2014) making the portfolio with a wide range of products and this accounts for a higher variety of processes. High variety of processes enables Toyota to match a wider range of customer demands and be more flexible in the eyes of customers. This, however, accounts for higher unit costs and makes the process relatively complex but Toyota has advanced other productions methods to control such aspects.
    • Variation of Processes : With predictably constant demand, it’s easier to allocate resources to a level that is capable of meeting the demand Slack et al. (2012). The variation in demand for Toyota’s products is low in the past few years and the company’s production has integrated Just in Time production techniques to fulfil those demands. Low variation enables Toyota to implement stable, routine and predictable operation processes.
    • Visibility of Processes : Process visibility indicates how much of the processes are exposed to its customers Slack et al. (2012). Toyota has low process visibility, as most of its operation process is ‘factory-like’. Low process visibility means there’s a time lag between production and consumption of Toyota products but it enables the company for high staff utilization and enjoys low unit cost for its products. Few of its processes such as those of sales centre and test drive facilities, however, have some kind of contact with customers allowing limited visibility.

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    Toyota Motor – Revenue and Growth

    The Toyota Motor Corporation’s net revenue contracted by one percent year-on-year and dipped to just under 30 trillion Japanese yen in the fiscal year ended March 2020. This figure is approximately equal to 278 billion U.S. dollars. Toyota’s revenue for the twelve months ending September 30, 2020 was $241.196B, a 13.59% decline year-over-year.

    Year Annual Revenue Percentage change
    2019 $272.031B +2.88%
    2018 $264.416B +3.02%

    Toyota Motor – Funding and Investors

    Toyota Motor Corporation has raised a total of $243.6M in funding over 2 rounds. Their latest funding was raised on Jun 28, 2018 from a Post-IPO Equity round.

    Date Round Amount Investor
    Jun 28, 2018 Post-IPO Equity $201.6M GT Capital Holdings
    Apr 14, 1982 Funding Round $42M

    Toyota Motor – Investments

    Toyota Motor Corporation has made 27 investments. Their most recent investment was on Feb 25, 2020, when Pony.ai raised $462M.

    Amount Organization Name Round Amount
    Feb 25, 2020 Pony.ai Series B $462M
    Jan 16, 2020 Joby Aviation Series C $590M
    Dec 4, 2019 May Mobility Series B $50M
    Oct 24, 2019 OPTIMIND Series A ¥1B
    Oct 15, 2019 LeapMind Series C ¥3.5B
    Jul 24, 2019 Didi Chuxing Corporate Round $600M
    Jun 28, 2019 MONET Technologies Corporate Round ¥499.9M
    Apr 19, 2019 Uber Advanced Technologies Group Corporate Round $1B
    Aug 27, 2018 Uber Corporate Round $500M
    Aug 21, 2018 Getaround Series D $300M

    Toyota Motor – Acquisitions

    Toyota Motor Corporation has acquired 3 organizations. Their most recent acquisition was Daihatsu on Feb 12, 2016.

    Acquiree Name Date Amount About Acquiree
    Daihatsu Feb 12, 2016 Daihatsu is the surviving Japanese internal combustion engine manufacturers
    Cascade Corporation Mar 28, 2013 $760M Manufacturers of materials handling load engagement devices
    Hino Ottawa-Gatineau Oct 28, 2010 A Japanese manufacturer of commercial vehicles

    Toyota Motor – Competitors

    Toyota Motor Corporation’s top competitors include FCA US, Mitsubishi Motors, Opel, Volkswagen, Nissan USA, PSA Group, Hyundai Motor, BMW Group, Ford Motor, General Motors and Daimler.

    Toyota Motor – Challenges Faced

    • Toyota’s sales in its home market are going through a phase of stagnation.
    • Any weakness in the Japanese yen provides a competitive advantage to Toyota’s overseas business. Therefore, the company’s margins from the overseas business are highly dependent on the currency movement of the Japanese yen against major currencies, including the US dollar and the euro. Continuous strength in the yen against these currencies can significantly affect Toyota’s profitability.
    • Despite being an Asian automaker, Toyota is unable to stay ahead of GM in the Chinese market.
    • With increasing environmental awareness across the globe, a delay in Toyota’s ability to deliver mainstream eco-friendly vehicles may restrict its future growth prospects.

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    Toyota Motor – Future Plans

    The demand for electric and hybrid cars is growing vastly. You might have heard of the self-driving vehicles running on the roads these days. That is a rough example of what modern technology demands from the automakers. Inbuilt software running the automobile is the need of the hour. The automotive industries are now racing for innovations to keep up the repo in the market. The modern era is the time of transformation. And that is what Toyota is battling for.

    The manufacturers now understand that electric cars are the future. The company is now designing special electric vehicles in a partnership with Subaru. Toyota now has the dedication to built electric cars. Toyota future plans will help to increase global sales. They are now in a joint venture with the various battery supplying companies.

    They not only have to design electric vehicles but also have to match the market needs. Numerous electric car manufacturing vehicles are in this race. The demand for electric cars is increasing all around the globe. The experts working on Toyota future plans will have to put all efforts possible. It is so to increase sales and reach the set target.

    The automakers are working on hybrid and plug-in hybrid models as well. According to industry knowledge, the count of electric vehicles will still be less than hybrid cars. Electric vehicles are not the only focus for the company. They also want to increase global sales in hybrid vehicles. The company will design and manufacture electric vehicles as per the market demands. But the game will still be on the hybrid and plug-in hybrid cars.

  • The Complete guide for SaaS Security Market

    Technological inventions are taking over the world rapidly. Businesses have shifted from the traditional markets to Saas Security Market. This humanly advancement has been made possible and real due to the new technology called as SaaS (Software as a service) which has simplified and drastically changed the business game. Instead of purchasing the entire software suite, SaaS models enable the companies to enroll for subscription based tools which are rented for a monthly or an annual basis.

    Basically, SaaS stands for ‘Software as a Service’.In layman terms, it’s a bunch of softwares or tools for you to do your job. These applications are hosted online and made available to the customers. They’re all over , everywhere. SaaS remains one of the most important and widely used concepts in cloud computing alongside IaaS and PaaS – Infrastructure & Product as a Service , respectively.
    It enables companies to run their business seamlessly by freeing them of the need to install various hard wares and software which cost a ton.

    While companies majorly avail its ‘Pay-to-go’ features, it does possess some amount of potential disadvantage however, let’s look into the global SaaS security market and understand its fundamentals.

    Software as a Service (SaaS) Revenue Model
    For customers, the benefits of the SaaS model are clear. It brought lowercosts, lower commitment risk, and a try-before-you-buy model, which gavecustomers a remarkable opportunity to assess a product before making a purchase.Indeed, the benefit is so clear that a 2017 study conducted by BetterCl…

    Upcoming enterprises as well as established organizations are adapting to Software as a service business model to fight the approaching competition.Be it small startups or a multinational company, it’s imperative to be a sassy vendor to be at the top of your game.

    While you strive hard to get an insane reach , there do exist people out there in the concrete woods ready to steal your precious data and its absolutely necessary to safeguard your company. Well, before you go ahead with competing with the top giants it is highly recommendable to look into the global and national SaaS security market to gain insights from the best.

    Global SaaS Security Market Forecast
    Global SaaS Security Market forecast

    COVID-19 Impact on the SaaS Security Market

    The COVID-19 lockdown has made regulatory changes in public and private sectors to undertake new practices to get business running even while maintaining social distancing.Thenceforth, the new business continuity plan (BCP) has emerged as the new Netiquette.The omnipresent use of BYOD devices, WFH trends had led to an increase in more and more companies to use cloud solutions and SaaS security measures against cyber attacks.

    The global SaaS security markets in the period of 2018-2022 are expected to grow at a CAGR of 22.19%.India is among the fastest-growing digital markets in the world with an exponential growth rate of 34% every year. Indian data market is expected to be $3.4 Billion by 2022 while the Global Market will be in the $129 Billion race.

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    SaaS security regions

    The global SaaS security industry market is dissected into five major regions. Further On each regional market is sub-segmented into countries and below. However the top major regions are:

    • North America
    • Europe
    • Asia-Pacific (APAC)
    • Middle East and
    • Africa (MEA) and South America (SAM)
    Top SaaS Companies by Market Share
    Top SaaS companies by market share

    North America leading with 44% as the largest market share holder in 2016 has adopted cloud services as features like free capital expenditure, automatic software update and data access are available which has escalated the need for data security whereas Asia pacific is speculated to grow at CAGR of 31% which is the highest in the SaaS security market.The collaborative effort of Artificial intelligence (AI) and machine learning has been observed to chance the North American customer services. Companies like Symantec Corporation, Google Inc., Fujitsu Ltd., Amazon.com Inc., IBM Corporation are a few top key players leading in the market.

    Bootstrapped SaaS Startups and tips for Bootstrapping your Startup
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    Predicting the market growth of 20.9% CAGR , the Europe Software as a service (SaaS) market will emerge as a power during the forecast period (2018-2014). As for the Asia-Pacific region , Japan leads with 40% of the SaaS expense. While maintaining functionality and considering ‘cost efficiency’ as their primary concern the Asian markets are still expanding their resources.

    Top Examples of SaaS Applications

    Zoom

    With an insane number of downloads for the Zoom app during the 2020 Lock down, it is a famous example as it allows one to conduct high quality video conferences for a large crowd using cloud computing. While Yoga Aunties and Dance masters are going gaga over the app let’s keep the technicalities to the tech sassy people.

    Canva

    An extremely popular tool Canva is alone in the SaaS game as it allows the users to create mind blowing designs from a pool of designer templates and graphical elements. Canva is quite famous among all creators who need visual content for their work.

    Google docs

    Pretty sure you’ve used Google docs a hundred times, it’s a SaaS as well, as it enables anyone to edit or view your document by simple logging into it. It’s one of the simplest forms of cloud based computing since you can access Excel, Presentations, Meets etc by a working email address. With its Cost effective features , Machine learning data analytics India , is one of the leading countries wherein numerous startups are coming up with customized products and solutions for their clients.
    As proud as this is growth also makes these initial yet to be giants prone to security attacks and data breaches. Therefore, it’s important to learn and understand the SaaS security market , its necessity, precautions, risks and solutions and be at the top of your game.

    Risks associated with SaaS Market

    Not having a secure setup can lead to various disadvantages and vulnerabilities. Here’s a list of things for you to know and understand what could go wrong and create bumps in your startup journey.

    Phishing

    A method to gather personal credentials using deceptive emails and websites. This increasingly sophisticated form of cyber attack has many companies in its shackles. In Phishing, hackers trick the users by disguising themselves as someone the user trusts. This could be a close friend or a trustworthy company’s disguise. The logic is to create a bait for people to fall prey to such imposters which attack your details with their fake emails, links, messages etc.

    ATO (Account Takeovers)

    Account takeovers or commonly known as ATO is a fast growing form of identity theft where data security is compromised. It is the malicious access of an online account by a fraudster posing as a genuine customer and making unauthorized transactions.

    Data Breach

    In Broad Terms, Data breach means your data falling into the hands of someone who has no business handling it. Data breach can be intentional as well as unintentional. At times, users or employees are not careful enough with their sensitive information making their data vulnerable and prone to falling into the wrong hands.
    For safe keeping your interests, policies, sensitive data and especially your hard work it is important for you to protect your information as if it’s a dear one. Having passwords for all your information is a necessary thing to do however, it’s not enough. It’s time to step up and take the blockade to the next level . So here are a few mandatory Precautions and Solutions for safeguarding your data from risks and problems.

    Precautions & Solutions

    Educate your employees

    First of all, an angry employee is a major vulnerability for any company. Be nice to your employees and educate them about the strong 8 Characters long passwords. Train them on how they can mistakenly leak the company’s data and how to avoid doing so.Make them aware about using their personal social media accounts using a personal setup instead of the organization’s for additional security. Along with this, providing security training for enforcing two-factor authentication and RBCA (Role based access) can be rendered helpful.

    Cohesive Security Culture

    Following a strict standard and cohesive security culture will save you a big time trouble and this simply includes following simple tasks like ‘Getting rid of paper’. Any information on paper that might track down your data should be shredded immediately once it’s no longer needed. This includes any sort of document, receipts with account details, transaction papers etc.

    Hiring a Security resource

    Investing in a person who will look after your data and its security is far better than handling it yourself. It is advisable to invest in a security engineer who will deal efficiently with the organization’s security matters.

    Educate your customers

    Educating your customers is highly recommended.Ensure that your customers are well aware about online fraudsters and ATO. Help them to understand the safety measures required to protect their data . This will also give you a few extra brownie points as you care for your customers and will surely gain their trust.One doesn’t have to be convinced about the importance of security. It is always accurate to be in control of all your belongings.

    Hard Work doesn’t happen overnight and therefore, it is imperative to rectify and amend the necessary steps for you to reach your goals.