Toyota Motor Corp. said Tuesday it will issue corporate bonds worth up to 500 billion yen ($4.7 billion) to advance safety and green technologies.

Toyota said it aims to raise funds for projects that will contribute to the U.N. Sustainable Development Goals, by stepping up its efforts to improve in areas such as the electrification of vehicles to reduce carbon dioxide emissions.

The Japanese auto giant said it will issue yen-denominated five-year bonds worth up to 100 billion yen for individual investors to raise funds for its "Woven City" at the foot of Mt. Fuji in central Japan, where it plans to explore new technologies including the automation of cars.

For institutional investors, it will issue yen-denominated and foreign currency-denominated bonds worth up to 400 billion yen with a five- or 10-year duration for the development of technologies to reduce casualties from traffic accidents and protect the environment.

==Kyodo

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