Toyota Motor Corporation is a multinational corporation headquartered in Japan, and the world's largest automaker. Toyota employs approximately 316,000 people worldwide. In 1934, while still a department of Toyota Industries, it created its first product Type A engine and in 1936 its first passenger car the Toyota AA. The company was eventually founded by Kiichiro Toyoda in 1937 as a spinoff from his father's company Toyota Industries to create automobiles. Toyota also owns and operates Lexus and Scion brands and has a majority shareholding stake in Daihatsu and Hino Motors, and minority... shareholdings in Fuji Heavy Industries, Isuzu Motors, and Yamaha Motors. The company includes 522 subsidiaries. Toyota is headquartered in Toyota City and Nagoya , and in Tokyo. In addition to manufacturing automobiles, Toyota provides financial services through its division Toyota Financial Services and also builds robots. Toyota Industries and Finance divisions form the bulk of the Toyota Group, one of the largest conglomerates in the world. On May 8, 2009, Toyota reported a record annual net loss of US $4 Billion.