NAGOYA — An auto parts maker for the Toyota Motor Corp. group has suspended operations and is preparing to file for bankruptcy due to funding difficulties amid the global auto slump, Teikoku Databank Ltd. said Thursday.
As of the end of last March, Nihon Koshuha, based in Aichi Prefecture, had liabilities of about ¥2.62 billion, the private credit research agency said.
The company was a subcontractor for Toyota Boshoku Corp. But its finances began deteriorating after orders dropped sharply last autumn. It logged about ¥11.34 billion in sales for fiscal 2007.