USA/JAPAN: Toyota to halve board, spin off housing unit - paper
Toyota Motor Corporation will halve the number of board members and spin off its housing sales division to speed up decision-making and streamline its balance sheet, the New York Times (NYT) said. According to the newspaper, the moves are the latest in a string of steps designed to increase efficiency at Japan's largest car maker. Toyota recently announced plans to overhaul its domestic dealership network and begin selling its successful Lexus luxury line in Japan, the NYT noted.
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