3 Japanese giants delay normal output
Source: Agencies |
March 23, 2011, Wednesday
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THREE of Japan's biggest global brands - Toyota, Sony and Honda - said yesterday they will further delay a return to normal production due to shortages of parts and power after the March 11 quake.
The 9.0-magnitude earthquake and tsunami forced the closure of 11 of Japan's 54 nuclear power plants and damaged factories belonging to producers of auto parts, electronics components and industrial materials.
Toyota Motor Corp, the world's biggest car maker, and rival Honda Motor Co said they have extended their shutdown of auto production in Japan to the weekend because of parts and power shortages. Toyota has lost production of about 140,000 vehicles since March 14.
Sony Corp said operations at five plants in Shizuoka, Aichi, Gifu and Oita were suspended until the end of March. The factories make broadcast equipment, camcorders, digital cameras, lenses for digital single-lens reflex cameras, cell phones, LCD TVs, microphones and headphones.
The effects are being felt across Asia, from Thailand to South Korea to Taiwan, as manufacturers who rely on imported Japanese semiconductors, auto parts, steel, LCD television panels and chemicals watch inventories dwindle.
Japanese manufacturers are expected to rebound once they restart production following the quake and tsunami that likely killed at least 18,000 people in the northeast. But analysts say they might be hit by power shortages, damage to roads and overseas customers switching to new suppliers.
In South Korea and elsewhere, concern is growing that reliance on Japanese imports will prove a big headache for industry.
"Chances are growing that supply disruptions will not end within one to two months," analysts at Hyundai Securities said in a report. "If supply disruptions are prolonged, Korean companies that rely heavily on materials and components imported from Japan ... will likely see severe production setbacks."
Toyota's shutdown of 11 factories was extended until Saturday because of difficulty securing components, including rubber parts and electronics, the maker of the Prius hybrid and Lexus luxury models said.
The shutdown had previously been announced through yesterday. Toyota resumed repair parts output last week.
Auto makers are scrambling to find alternative parts suppliers to replace those disabled by the quake. The disaster-stricken northeast is home to tertiary parts-makers
The 9.0-magnitude earthquake and tsunami forced the closure of 11 of Japan's 54 nuclear power plants and damaged factories belonging to producers of auto parts, electronics components and industrial materials.
Toyota Motor Corp, the world's biggest car maker, and rival Honda Motor Co said they have extended their shutdown of auto production in Japan to the weekend because of parts and power shortages. Toyota has lost production of about 140,000 vehicles since March 14.
Sony Corp said operations at five plants in Shizuoka, Aichi, Gifu and Oita were suspended until the end of March. The factories make broadcast equipment, camcorders, digital cameras, lenses for digital single-lens reflex cameras, cell phones, LCD TVs, microphones and headphones.
The effects are being felt across Asia, from Thailand to South Korea to Taiwan, as manufacturers who rely on imported Japanese semiconductors, auto parts, steel, LCD television panels and chemicals watch inventories dwindle.
Japanese manufacturers are expected to rebound once they restart production following the quake and tsunami that likely killed at least 18,000 people in the northeast. But analysts say they might be hit by power shortages, damage to roads and overseas customers switching to new suppliers.
In South Korea and elsewhere, concern is growing that reliance on Japanese imports will prove a big headache for industry.
"Chances are growing that supply disruptions will not end within one to two months," analysts at Hyundai Securities said in a report. "If supply disruptions are prolonged, Korean companies that rely heavily on materials and components imported from Japan ... will likely see severe production setbacks."
Toyota's shutdown of 11 factories was extended until Saturday because of difficulty securing components, including rubber parts and electronics, the maker of the Prius hybrid and Lexus luxury models said.
The shutdown had previously been announced through yesterday. Toyota resumed repair parts output last week.
Auto makers are scrambling to find alternative parts suppliers to replace those disabled by the quake. The disaster-stricken northeast is home to tertiary parts-makers
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