In brief: Japanese company building in Moses Lake

AstaReal Technologies, a subsidiary of Japan’s Fuji Chemical Industry, will build a $30 million Moses Lake factory to produce astaxanthin, a health product that some claim slows aging and offers other benefits.

A news release said Fuji chose Moses Lake due to the area’s low cost of power and available labor. Moses Lake has also had a positive relationship with Japan Air Lines, creating a welcoming culture toward Japanese companies, the release noted.

The new plant will add 45 production jobs, according to the release. It’s expected to begin production next year.

The plant will produce a variety of algae that then is processed to produce astaxanthin. The chemical, when ingested in capsules, is claimed to slow aging and reduce inflammation in humans and animals.

The current global market for astaxanthin is $200 million and estimated to reach $700 million in 2016.

Americans’ borrowing rises by $13.8 billion

WASHINGTON – Americans borrowed more in June to buy cars and attend schools. But they were frugal again with their credit cards, as many remain wary of taking on high-interest debt.

Consumers increased their borrowing by $13.8 billion in June from May to a seasonally adjusted $2.85 trillion, the Federal Reserve said Wednesday in its monthly report on consumer credit. That’s the highest level ever.

The category that includes credit card debt dropped by $2.7 billion in June and remains 16.5 percent below its July 2008 peak.

Borrowing for autos and student loans rose $16.5 billion in June. Gains in this category have lifted overall consumer credit to record levels in all but one month since June 2011.

Since January 2011, the measure of student and auto loans has risen $312.6 billion.

The Federal Reserve’s consumer credit report does not separate student loans and auto loans.

Toyota Tacoma pickups recalled over seat belts

DETROIT – Toyota is recalling 342,000 Tacoma midsize pickup trucks because the front seat belts can malfunction.

The recall affects 2004 to 2011 Access Cab models with a small door to the rear passenger compartment.

Toyota said screws that attach part of the seat belts to the mechanism that retracts the belts can come loose if the rear door is closed repeatedly and forcefully. If that happens, the belts may not work properly for the driver or front passenger.

Toyota said no crashes or injuries have been reported from the problem.

The company will notify owners of the pickups by mail and dealers will fix them free of charge.

Owners can call Toyota at (800) 331-4331.