The company was founded in 1920 Juijiro Matsudo in Hiroshima, where to this day it is headquartered. The company originally known as Toyo Cork Kogyo and engaged in the manufacture of building materials from balsa wood. 1927 Matsuda decided to switch to the manufacture of machinery, and in the same year the company, renamed Toyo Kogyo, started manufacturing motorcycles, and after the war to recover from a nuclear bomb factory began collecting trucks.

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