Toyota to Cut Production by 15% Due to Strong Yen

Toyota Motor Corp. plans to cut vehicle production in Japan by a further 15 percent over the next five to six years, the Financial Times reported.

The Japanese automaker aims to reduce output to about 70 percent of its current domestic capacity of 3.9 million vehicles, the newspaper said, citing Executive Vice President Atsushi Niimi.

Toyota will expand production in China, Brazil and the U.S. because of the strong yen, the report said.

http://www.bloomberg.com/news/2010-07-27/toyota-plans-to-cut-vehicle-production-in-japan-on-stronger-yen-ft-says.html