Toyota, recognized as the largest car manufacturer globally, has temporarily ceased operations across all its assembly plants in Japan. This decision comes in the wake of a system malfunction that impacted the company’s ability to order necessary components. The malfunction led to an initial suspension at 12 plants, with the Miyata plant in Fukuoka and Daihatsu’s Kyoto plant, a subsidiary of Toyota, continuing operations initially. However, the company later expanded the suspension to include these facilities as well.
As of now, Toyota has not provided a specific timeline for when the production might resume. The company has clarified that the system error does not appear to be related to a cyberattack. This clarification comes in light of a previous incident in February of the preceding year, where Toyota had to halt operations at all its domestic plants due to a cyberattack on Kojima Industries, a supplier.
Following the announcement of the production halt, Toyota’s shares experienced a slight decline, dropping by 0.64 percent in morning trading. Headquartered in Toyota City, Aichi Prefecture, Toyota has been the top-selling automaker globally for three consecutive years, including in 2022, with over 10.4 million vehicles sold. For 2023, the company has set a production goal of 10.6 million vehicles. The temporary shutdown of its Japanese plants marks a significant disruption for the automaker in its efforts to meet this target.
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