AP: Toyota reaches settlement over bullied engineer’s suicide
June 7, 2021, 7:56 am

AP: Toyota reaches settlement over bullied engineer’s suicide

Toyota Motor Corp. President Akio Toyoda

Japanese automaker Toyota has reached a settlement with the family of an engineer whose suicide was ruled a job-related death due to harassment from his boss.

Toyota Motor Corp. vowed to crack down on harassment in the workplace to ensure employees’ safety and expressed deep remorse, “facing up with true sincerity to the fact that a precious worker’s life was lost.”

The engineer, then 28, was repeatedly ridiculed by his boss, prevented from taking days off and told to die. His suicide in 2017 was ruled by a regional labor bureau as a job-related death in 2019, entitling his family to compensation. His name has been withheld due to privacy concerns, standard in Japan.

To prevent future harassment, Toyota will improve workers’ health care, better evaluate management, educate workers and encourage a workplace culture where employees can speak up, the company said in a statement Monday.

“Toyota promises to work on developing people who, each and every one, can take an interest in those around them, under our stance that power harassment should never be tolerated,” it said.

The attorney for the victim and his family, Yoshihide Tachino, said Toyota was responsible for mismanagement in allowing the harassment to continue. The amount of compensation the family will receive was not disclosed.

He stressed the settlement includes the preventive measures promised by Toyota as well as a thorough investigation into the death. Company President Akio Toyoda met with the family of the deceased and promised to bring about change, but the company needs to be monitored to make workplace culture changes, Tachino said.

“We believe that the legacy of efforts to curtail power harassment pays respect to his tragic death, which came too soon at 28, although nothing will ever be enough,” he said.

Complaints in Japan about various workplace abuse, including sexual harassment and problems over parental leave, have climbed to about 88,000 cases a year, more than tripling in the last 15 years.

In the Toyota case, the young engineer’s boss bullied him constantly, including referring to his educational background. Although he had a graduate degree from the prestigious University of Tokyo, his undergraduate degree was from a less elite school, according to an investigation into the case. Such background details can be painfully crucial in conformist Japan.

The engineer, who joined Toyota in 2015, told those around him that he would rather die than endure the suffering. He took some time off in 2016, citing mental stress. When he returned to work, Toyota assigned him to another section, but he was still working on the same floor as his former boss, records show.

The family said in a statement that their son won’t return despite the compensation.

Source: AP

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.