Japan's FSA, led by Katsunobu Kato, Issues Business Improvement Order to Toyota Mobility Tokyo and Good Speed Co. for Insurance Deficiencies on January 24, 2025

Japan's Financial Services Agency (FSA) has issued a business improvement order to Toyota Mobility Tokyo and Good Speed Co. due to serious deficiencies in their insurance solicitation practices. Finance Minister Katsunobu Kato confirmed that the order was issued in accordance with the Insurance Business Act, highlighting the significant management issues at the Toyota sales unit. The FSA's action comes after a review revealed critical flaws in the insurance solicitation processes of these companies, prompting the need for corrective measures to ensure compliance with regulatory standards.