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Toyoda, the grandson of the company’s founder, was re-elected with 96% support last year.
The climate resolution, submitted by Danish pension fund AkademikerPension and two other European asset managers, sought to force Toyota to disclose additional information concerning its lobbying efforts concerning climate change.
The resolution was widely expected to fail after Toyota’s board advised shareholders to vote against it. The automaker’s management traditionally receives substantial backing from shareholders, including various group companies and suppliers.
The shareholder meeting took place just one day after the automaker revealed its ambitious roadmap for electric vehicles involving solid-state batteries and radical production changes, signaling to investors the company’s intention to capture a big slice of EV market share.
“I believe that Toyota today can manage its business with a sense of speed,” Toyota CEO Koji Sato told shareholders.
Shares of TM are up 4.84% in pre-market trading on Wednesday after jumping over 5% on Tuesday.
