Takako Sugiyama isn't sure how old her two grandchildren's school is. She knows this: the building, in the city of Toyota, Aichi Prefecture, was dated when her three kids — now in their 50s — attended.

This year, things will finally change. With Toyota Motor Corp. set to earn more money than all other Japanese carmakers combined, the company's hometown is seeing a surge in tax revenue. The school will be torn down and replaced with an earthquake-resistant building, putting Sugiyama's mind at ease.

"I've been worried the current building is a bit too dangerous," Sugiyama, 71, said while walking by with her granddaughter. "The economy around this area has been improving as Toyota's business has gotten better."