Auto maker Toyota Motor (TM.NYSE, 7203.TYO, TYT.LON, TOM.FRA) will slow manufacturing rates at factories serving the mainland as Chinese demand falls amid anti-Japanese sentiment, The Wall Street Journal, citing a company press release. A Japanese factory for Lexus, Toyota’s luxury brand, will reduce the number of cars manufactured by 20%, a Japanese newspaper reported, although Toyota did not confirm the figure. Toyota will reduce output at three mainland factories, although the company did not state by how much. Japan’s purchase of the Senkaku islands, known as the Diaoyu in Chinese, that are also claimed by China has lead to boycotts of Japanese goods. Goldman Sachs cut predictions for Japan’s GDP growth this week from 2.3% to 1.9% for the current accounting year to March. Japanese companies have reported that Chinese customs officials are also clamping down on Japanese imports.
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