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Yachiyo Industry Co., 50 percent owned by Honda Motor Co., said Tuesday it will build a new factory in Japan to make minicars for its parent company as demand for fuel-efficient vehicles rises.

Yachiyo will spend ¥50 billion on building a new factory in Mie Prefecture and a previously announced engine plant, the company said in a release. The minicar factory, to produce the Life and Zest models, will start operation in 2010, a year after the engine plant.

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