Posted on 19 May 2010
Toyota Motor Corp has decided to raise in October the price of steel that it provides to its parts suppliers, moving away from the current trend of setting the price in April, the Nikkei reported.
The business daily said the move was aimed at aiding parts suppliers calculate costs and adjust prices accordingly, adding this would not affect their profits.
Steelmakers are asking for a price increase of about 20 percent, as well as a change in the pricing cycle to quarterly from annual, the Nikkei said.
