TOKYO (XFN-ASIA) - Toyota Motor Corp will invest about 1.5 trln yen in plants and equipment in the current year to March 2008, the Nikkei financial daily reported, without citing sources.
The nation's largest automaker spent 1.55 trln yen in fixed asset investment in the year to March 2007, up some 20 bln yen from the previous fiscal year, the newspaper said.
By continuing high levels of investment, the Nikkei said Toyota plans to remodel vehicles for the domestic market, including the Crown luxury sedan.
The company will also revamp its main production site for small cars in Aichi Prefecture, while boosting engine output in Fukuoka Prefecture.
In Canada, Toyota is spending about 80 bln yen on a new assembly plant expected to come onstream in 2008, the Nikkei said. In the US, the automaker will spend some 150 bln yen to construct a Mississippi assembly plant.
(1 usd = 118.87 yen)
yasuhiko.seki@xfn.com
ys/mas
© 2007 AFX News
