Toyota has reduced its number of top positions to speed up decision making, as the Japanese automaker works toward a slimmer executive structure to better compete in an industry undergoing rapid change.
Toyota Motor Corp. will rely on its small-car partner Daihatsu to tackle a big problem. Emerging markets are seen as the key to long-term growth for the auto industry. But Toyota and other Japanese automakers largely trail their global rivals there.
Toyota and its Daihatsu minicar subsidiary are forming a new company to focus on compact vehicles for emerging markets, as Toyota prepares for new battlegrounds in regions expected to see rapidly growing demand.