Toyoda said the company was focused on consumers and he was sorry for the anxiety the recalls had caused.
Toyoda apologized at the World Economic Forum in Davos, Switzerland, in an interview aired on NHK, a Japanese television station.
Toyota has recalled millions of vehicles and halted the sale of eight popular models in the United States for problems revolving around unexpected acceleration that allegedly has led to several fatal accidents.
Toyota has said it would recall vehicles in China and take action in Europe, as well.
On Friday Toyota said it had developed a modified gas pedal that would fix the problem in 2.3 million of the 5.3 million recalled vehicles. In Washington, Henry Waxman, chairman of the House energy and commerce subcommittee, said he would hold a hearing Feb. 25 on concerns over the "seriousness and the scope" of the Toyota recalls, the Los Angeles Times reported.
Toyoda said the automaker would find the causes of the problem and provide an explanation as soon as possible.
Ron Burgundy interviews Peyton Manning on SportsCenter
Martin Bashir resigns from MSNBC over Sarah Palin comments