Toyota Aims to Hike Exports to Developed Markets

Toyota Motor Corp. hopes to offset weakening sales in emerging markets by increasing its exports to the U.S. and other developed markets, Bloomberg News reports.

Managing Officer Yoichi Miyazaki announced the policy in a letter to workers, in which he asked for their cooperation in handling the additional domestic production.

Toyota's exports from Japan trailed year-earlier volume in January-April by 3%. The company's exports lagged 6% in 2014 and 2% in 2013.

The company said in May that rising sales in North America this year would be offset by weaker demand in Russia and the Middle East. Toyota sales in Europe through April climbed 7% to 114,800 units.