Tokyo  - Toyota Motor Corp officially decided Wednesday to invest 10 billion yen (96.12 million dollars) in a passenger jet business of Mitsubishi Heavy Industries Ltd.

Mitsubishi Heavy established a subsidiary, Mitsubishi Aircraft Corp, on March 3 to develop and market a small passenger jet called Mitsubishi Regional Jet (MRJ).

Toyota decided to accept the request from Mitsubishi Heavy to invest in the aviation business with a plan to market passenger jets with 70-90 seats by 2013.

The light-weight planes aim for fuel-efficient performance.

In addition to 3-billion-yen initial investment, Mitsubishi Aircraft would be financed by Toyota and other firms to raise the total capital up to 100 billion yen. (dpa)