Japanese companies operating in Dubai are preparing to set up a chamber of
commerce and industry to promote the exchange of information, according to
recent media reports from Dubai.

The first such Japanese chamber of commerce in the Middle East will begin
operating after will begin operating after getting approval from the local
authority. The chamber is expected to have 100 member companies in the first
year.

TOKYO - Toyota lowered its global sales target for 2009 by 700,000 vehicles
to 9.7 million Thursday, showing that even one of the world’s most durable
automakers is being hurt by rising material costs, a slowing U.S. market and
soaring gas prices.

Toyota Motor Corp had previously set a 2009 global sales goal of 10.4
million vehicles. The lower target would still be a 2% increase from the
company’s 2008 sales goal of 9.5 million. But even that figure was reduced
last month from an initial 9.85 million units.

Toyota has been on such a potent growth track in recent years it is getting
closer to ending General Motors Corp.’s 77-year run as the world’s top
automaker by sale

The global auto market took another turn for the worse as carmakers in
Europe and Asia forecast bleak times and their American counterparts began a
round of closures and job cuts.

Carmakers face a sharp drop in sales as drivers put off major purchases on
fears of recessions from East to West and the cost and difficult of getting
loans.
Financial results from Daimler of Germany, Hyundai of South Korea and Fiat
of Italy added to the gloom.

Widespread auto production cuts are pressuring suppliers of parts like
pistons, valves and oil pumps.

Most automakers see 2009 as their acid test to make any profit and a few may
either merge with others or simply get out of business, unless government
bailout is not coming to rescue them within a few months.

Auto sales in Japan in the first half of this business year slumped to their
lowest level in 34 years as rising unemployment and decade-high inflation
sapped demand for new vehicles, and industry association said recently in
Tokyo.

Sales in April-September fell 2.9% to 1.54 million vehicles, the lowest
since 1974 the Japan Automobile Dealers Association said. The total excludes
minicars.