Toyota Said to Aim for Emerging Markets Growth in Plan

Toyota Motor Corp., which traditionally gets a majority of its profit in the U.S., will outline a strategy for growth in emerging markets in a 10-year plan the Japanese automaker is set to release this week, two people familiar with the plan said.

Toyota also aims to cut two vice-chairman positions and shrink its board to 17 or fewer members from 27 as part of the biggest management shakeup in eight years, said two people, who declined to be identified as the information is private.