👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Toyota to curb more production in Japan as COVID spreads

Published 01/20/2022, 09:05 AM
Updated 01/21/2022, 06:15 AM
© Reuters. FILE PHOTO: The Toyota logo is seen at its booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song
TM
-

(Toyota corrects number of affected plants to 12 from 11)

TOKYO (Reuters) -Toyota Motor Corp is slowing production at as many as 12 plants in Japan because of rising COVID-19 infections among its workers and those at parts suppliers, it said on Thursday.

That disruption, which comes amid a shortage of semiconductors that is already forcing it to curb output, could cut production plans this month by about 47,000 vehicles, a Toyota spokesperson said.

© Reuters. FILE PHOTO: The Toyota logo is seen at its booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song

Toyota on Tuesday said it expects to fall short of an annual target to build 9 million vehicles because it did not have enough chips. The company's business year ends on March 31.

There has been a surge in cases of the Omicron coronavirus variant in Japan since the start of the year. Daily coronavirus cases on Thursday rose to a record 46,199.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.