Toyota to Refrain From Building New Plants

Despite Robust Profits, Auto Maker Heeding Lessons of Financial Crisis

By

Eric Pfanner

Updated May 27, 2014 7:58 a.m. ET

TOKYO—Even after becoming the first auto company to make more than 10 million cars in a single year, Toyota Motor Corp. said Tuesday that it would refrain from building any new plants for at least two more years.
Nobuyori Kodaira, executive vice president of Toyota, said that the company planned to heed the lessons it learned during the global financial crisis that began in 2007, when it struggled for several years with...