Business / Corporate Mar 28, 2020
Toyota retools idled U.S. factories for face shield and mask production
Toyota Motor Corp.'s idled manufacturing facilities in the U.S. will make much-needed face shields and masks, and the auto giant is also closing in on deals with makers of medical devices to help them boost production. The carmaker said Friday it will start mass production ...
Business / Corporate Mar 27, 2020
Toyota requests $9 billion credit line from Japanese mega-banks SMBC and MUFG
Toyota Motor Corp. has asked two mega-banks to set up a credit line of ¥1 trillion ($9.2 billion), company sources said Friday, a move that signals the leading automaker is struggling with rising fundraising costs caused by the coronavirus outbreak. Toyota's financial base remains solid, ...
Business / Financial Markets Mar 27, 2020
Moody's downgrades Toyota, Honda, Nissan as COVID-19 crisis deepens
Moody's Japan K.K. has lowered its credit ratings on Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co., citing the negative impact of the COVID-19 pandemic. "The automotive sector has been one of the sectors most significantly affected by the shock" from the spread ...
Business / Corporate Mar 24, 2020
Toyota and NTT sign capital tie-up over 'smart city' project
The auto and telecommunications giants said they will mutually invest around ¥200 billion ($1.8 billion) by purchasing each other’s treasury stocks.
Business / Corporate Mar 23, 2020
Toyota, Honda and Suzuki halt plants in India due to coronavirus
Toyota Motor Corp., Honda Motor Co., Suzuki Motor Corp. and Nissan Motor Co. have halted operations at their plants in India due to the spread of the new coronavirus. Toyota has suspended operations at its two plants in Karnataka state as employees could not commute ...
Business / Corporate Mar 19, 2020
Japan automakers to halt North American plants as coronavirus spreads
Toyota, Honda, and Nissan announced Wednesday they would suspend operations at their plants in North America due to the spread of the new coronavirus that causes COVID-19.
Business / Corporate Mar 18, 2020
Nissan to pull out of local production in Indonesia, source says
Nissan Motor Co. will pull out of local production in Indonesia due to falling vehicle sales in the country, a source close to the matter said Wednesday. The third-largest carmaker in Japan already halted production in January in the Southeast Asian country, including the construction ...
Business / Financial Markets Mar 17, 2020
Hitachi exec Toyoaki Nakamura nominated for Bank of Japan board
The government on Tuesday nominated Toyoaki Nakamura, an executive at Hitachi Ltd., to join the Bank of Japan's nine-member Policy Board. Nakamura, 67, would replace Yukitoshi Funo, a former executive of Toyota Motor Corp. who has consistently voted with the majority and holds a neutral ...
Business Mar 17, 2020
Now made in Mexico: Japan auto suppliers shift China production after virus shock
In the Chinese coastal province of Jiangsu, where supply chains have been severed by the coronavirus outbreak, one auto supplier has already shifted production of parts for Mazda Motor Corp. to a site 13,000 kilometers away, in central Mexico's Guanajuato state. The bid to keep ...
Business / Corporate Mar 11, 2020
Jittery over COVID-19, Toyota and other Japan firms shun base pay hikes
Major companies were reluctant to offer base pay hikes during annual wage talks, with Toyota Motor forgoing its uniform monthly pay-scale increase for the first time since 2013.