Toyota Confirms Plant-Building Hiatus

Toyota Motor Corp. says it will halt plans to build new plants through March 2016, except for those already announced, as The Nikkei reported last month.

Toyota intends to focus on maximizing the use of its existing factories and equipment to control fixed costs. The goal is to generate steady profits regardless of fluctuating exchange rates.

Previously announced projects include new assembly and engine facilities in Indonesia to open next year and a Brazil engine plant slated to start production in mid-2015.