Toyota Motor Corp.’s group capital investment for the business year to next March will top 1 trillion yen ($US9.09 billion) to reach its highest level, a newspaper reported.
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According to Reuters, the Asahi Shimbun said the world’s second-largest carmaker has revised its capital spending for the full year to 1.05 trillion yen, up from its original plan of 990 billion yen.
The company is using the capital for a joint venture in China and to strengthen domestic production capacity, the paper said.
A Toyota spokeswoman told Reuters nothing had been decided.
Toyota’s capital spending exceeded 1 trillion yen in 1998, and it will be only the second time it has exceeded that amount, the paper said.
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By GlobalDataThis month, Toyota unveiled a $461 million joint venture with Guangzhou Automobile Group Co. Ltd. to make its Camry sedan in south China, Reuters noted.
