Toyota to cut board members, aim for $12 billion profit

By @ibtimes on

Toyota Motor Corp said it would cut the number of board members to 11 from 27 in June and aim to nearly double its operating profit to 1 trillion yen ($12.1 billion) as part of a long-term strategy unveiled on Wednesday.

Toyota also said it would launch about 10 more hybrid models by 2015 and that it expected emerging markets to make up half of its sales by 2015, against 40 percent now.

(Reporting by Chang-Ran Kim)

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