Toyota Tsusho Strengthens Investment for Rare Metal Resources

Toyota Tsusho Corporation’s Metals Division plans investment at 36 billion yen for fiscal 2010-2011 ending in March 2012 and devotes 30 billion yen to overseas businesses including rare metals and rare earths. The division aims to strengthen business investment in and after fiscal 2010 though the firm had reduced the investment since Lehman Shock. The division plans to allot 13 billion yen for steel products, 12 billion yen for nonferrous metal products and 11 billion yen for raw materials.

Metals Division plans to devote 6 billion yen to domestic business and 30 billion yen to overseas business, mainly in China and India. The investment is planned at 12 billion yen for Asia including China, 8 billion yen for emerging and resourceful countries and 10 billion yen for North America, Latin America and Australia.

Toyota Tsusho will start operation of neodymium manufacturing plants in India in 2011 and in Vietnam in 2012. In Argentine, the firm has operated a test plant of lithium products and plans to start commercial operation in 2012. The firm eyes additional investment for rare metal and rare earth related projects in other areas.