Toyota may halt growth

TOKYO - Agence France-Presse

Japan’s Toyota Motor has decided to halt the construction of new factories for the next three years in a shift from its previous policy of building new plants almost annually, reports said yesterday.

The company, which hopes to regain top spot in the global auto market, will concentrate its capital investment on existing factories, the Nikkei business daily said. The new policy will basically shelve through the end of the 2015 fiscal year all plans for building new factories other than those already announced, the paper said. The company will officially announce the decision in a new management plan to be released in coming months, Jiji Press said.