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Jan 15, 2013

Japan-China tension weighs on Nissan investments

DETROIT, Jan 14 (Reuters) – Nissan Motor Co. will
remain cautious about future Chinese investments including
Infiniti brand production until the country’s relations with
Japan improve, Chief Executive Carlos Ghosn said on Monday.

Ghosn was speaking at the Detroit auto show after the three
main Japanese automakers all said an anti-Japan consumer
backlash continued to depress their Chinese sales by between 16
and 30 percent.

Jan 13, 2013

Toyota drops “plain vanilla” styling with eye on Hyundai’s rise

TOYOTA, Japan, Jan 14 (Reuters) – When Tokuo Fukuichi was
brought back to Toyota Motor Corp to become head of
design, he was given a simple directive from President Akio
Toyoda: make Toyota cars simple and cool. He took a risk and
objected.

“I said, look, Mr. President, just cool is not good enough,”
Fukuichi told Reuters. “Toyota had already tried hard to fix
ugly parts and make them look better. What Toyota lacks the most
is character.”

Dec 26, 2012

Analysis: Japan’s yen offensive may give Toyota an edge over Hyundai

TOKYO (Reuters) – When Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) President Akio Toyoda visited northern Japan in July last year and announced a $24 million engine plant expansion, some analysts saw it as evidence of a flawed strategy that put patriotism above profitability.

At the time, Toyota was struggling to rebuild its supply base after the March 2011 earthquake and tsunami and the yen was climbing toward a post-war record high against the dollar.

Dec 19, 2012

Japanese automakers rally on hopes of weaker yen

TOKYO, Dec 19 (Reuters) – Hopes that Japan’s central bank
would obey incoming prime minister Shinzo Abe’s call to print
more money and weaken the yen sparked a sharp rally on Wednesday
among auto stocks, lifting Tokyo’s market to its biggest gain in
over a year.

Honda Motor led the gains, rising 6 percent, while
Nissan Motor climbed 5.5 percent and Toyota Motor
rose 3.5 percent. The three stocks helped push the
benchmark Nikkei Stock Average up 2.4 percent to above
10,000 for the first time in almost nine months.

Nov 14, 2012

Toyota to recall 2.8 million vehicles for steering glitch

TOKYO (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) said it will recall 2.77 million vehicles worldwide, including some of its popular Prius hybrid cars, for steering and water pump problems in the carmaker’s second multimillion-vehicle recall in a little over a month.

The defects, which Toyota said had caused no accidents and could each be fixed in an hour or so, could cost hundreds of millions of dollars to repair, according Deutsche Securities autos analyst Kurt Sanger.

Nov 6, 2012

China row drags on Nissan, cuts full-year forecasts

YOKOHAMA, Japan (Reuters) – Counting the cost of anti-Japanese protests in a territorial dispute with China, Nissan Motor Co (7201.T: Quote, Profile, Research) cut its full-year net profit forecast by a fifth to $3.99 billion, and said it had lost share in its biggest market.

Nissan joins Honda Motor (7267.T: Quote, Profile, Research) in revising down its forecasts for the year – Honda also lopped a fifth off its guidance – but bigger rival Toyota Motor (7203.T: Quote, Profile, Research) on Monday nudged up its forecast as it is less exposed to a China market where growth is slowing and Japanese goods have been boycotted.

Nov 6, 2012

Nissan cuts full-year forecasts as China row dents sales

YOKOHAMA, Japan, Nov 6 (Reuters) – Nissan Motor Co
cut its full-year net profit forecast by a fifth to $3.99
billion, joining rival Honda Motor, after car sales
tumbled in China, the world’s biggest autos market, amid
anti-Japanese protests over a territorial dispute.

Demand for Nissan, Honda and Toyota Motor cars in
China was virtually halved due to protests in a row over
disputed islets in the East China Sea. Nissan is the most
exposed among Japanese carmakers, with China accounting for 27
percent of its vehicle sales.

Nov 5, 2012

Despite China hit, Toyota trebles second-quarter profit, raises full-year forecast

TOKYO (Reuters) – Toyota Motor Corp raised its full-year net profit forecast to $9.7 billion even after its sales in China, the world’s biggest autos market, were battered by a popular backlash against Japan over a territorial dispute.

Sales at Toyota and its two Chinese joint ventures almost halved in September and October. Honda Motor’s China car sales more than halved last month, while Nissan Motor’s fell 41 percent.

Nov 5, 2012

Despite China hit, Toyota trebles Q2 profit, raises FY forecast

TOKYO (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) raised its full-year net profit forecast to $9.7 billion even after its sales in China, the world’s biggest autos market, were battered by a popular backlash against Japan over a territorial dispute.

Sales at Toyota and its two Chinese joint ventures almost halved in September and October. Honda Motor’s (7267.T: Quote, Profile, Research, Stock Buzz) China car sales more than halved last month, while Nissan Motor’s (7201.T: Quote, Profile, Research, Stock Buzz) fell 41 percent.

Nov 5, 2012

Toyota set to raise profit outlook but still much work to do

TOKYO, Nov 5 (Reuters) – Toyota Motor Corp is set
to tweak its full-year profit forecasts higher, local media
reported, in revisions that will come with a likely trebling of
quarterly profit to almost $3 billion. Even so, it’s too early
to say it has emerged from years of crisis.

Toyota will likely lift its annual operating profit forecast
by 5 percent to 1.05 trillion yen ($13 billion) and nudge up its
net profit outlook on strong sales in North America and
Southeast Asia as well as cost cuts, public broadcaster NHK
said.

    • About Yoko

      "Based in Tokyo since 2007, I have been covering politics in the world's third-biggest economy, as well as Japan's nuclear disaster, energy issues and diplomacy."
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