Toyota says NE Japan disaster to hit earnings, output | autos | Hindustan Times
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Toyota says NE Japan disaster to hit earnings, output

autos Updated: Apr 01, 2011 09:18 IST

Reuters
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Toyota Motor Corp President Akio Toyoda said on Friday that the devastating earthquake and tsunami in northeast Japan would hurt the company's earnings in the business year that just started, although he gave no details.

He reiterated that it remained uncertain when the company would resume full production after the March 11 disaster disrupted its supply chains, but emphasised that priority should be placed on recovery in the country's devastated northeast.

Toyota was speaking to reporters after a ceremony at the company's headquarters to welcome new hires on their first day of work.

Toyota has stopped producing vehicles at all but two of the 18 group factories that build Toyota and Lexus cars in Japan. At those two factories it is only assembling a limited number of three hybrid models at a reduced rate.