Toyota help SE Asia plants

Toyota help SE Asia plants

TOKYO (Nikkei): Toyota Motor Corp has unveiled plans to
provide financial support for companies in Southeast Asia that
supply its local factories with auto parts, the Nihon Keizai
Shimbun reports in its Wednesday morning edition.

Toyota will shoulder the cost of purchasing materials the
suppliers need to make electrical devices, pressed parts and
other components used in the assembly of Toyota vehicles in
Thailand, Indonesia and the Philippines.

Auto production has plunged in Southeast Asia due to the
regional economic slowdown. In addition, many local financial
institutions are finding it difficult to provide autoparts
suppliers with letters of credit.