Toyota Motor Corp planning to cut down its global production capacity

Toyota Motor Corp is planning to cut down its global production capacity to match lower sales by 10 percent, or 1 million vehicles, as early as the current financial year to March 2010.

The world's biggest carmaker, Toyota has decided to put a halt at the production line in Japan for about a year and a half from next spring and is considering halting a line at a UK plant too.

Shares of Toyota rose 1.5 percent, outperforming a 0.9 percent rise in the benchmark Nikkei average. Toyota forecast this running month facing a shallow annual loss, but still there are doubts about the sustainable recovery in demand.