By DPA,
Tokyo : Toyota Motor Corp said Wednesday that the world’s largest carmaker would put more emphasis in emerging markets such as India and China while streamlining its management structure in a 10-year strategy plan.
As part of the plan called new “Global Vision”, Toyota will reduce the number of board members from the current 27 to 11, including chairman, president and five executive vice presidents, Toyota President Akio Toyoda told a news conference.
Toyoda said the company would aim at sales in emerging markets of 50 percent of its total in 2015.
He said the firm was targeting operating profit of around one trillion yen.
Toyoda also said the carmaker would introduce about 10 new hybrid models by 2015.
The Japanese carmaker had struggled with worldwide recalls of more than 10 million vehicles over problems with brakes, floor mats and accelerator pedals. That tarnished the company’s reputation for safety and quality.
The recall problems and the carmaker’s slump in sales following the financial meltdown made the carmaker aware of “the need for articulating a clear vision”, Toyoda said.
Shares in Toyota rose 0.41 percent Wednesday.