Toyota holds AGM under pressure from overseas, but with wide support at home

By Maki Shiraki and Daniel Leussink

TOYOTA CITY, Japan (Reuters) - Toyota Motor Chairman Akio Toyoda may be under pressure from global investors over governance and scandals, but he remains popular among mom-and-pop investors who attended its annual shareholder meeting on Tuesday.

Toyoda is likely to be re-elected as chairman of the world's largest automaker at the meeting, even though two influential proxy advisory firms have recommended voting against him, citing concerns about governance and certification test scandals.

The grandson of the company's founder, Toyoda remains deeply popular among retail shareholders, many of whom praise him for steering the company to another year of record profits and strong stock performance last year.

"I bought Toyota shares with my retirement bonus," 84-year-old Hidenori Takahashi told Reuters, adding he believed it was the "best company in Japan" for shareholders.