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☆ Analysis: Kuroda's abrupt policy tweak opens door for bigger shift next year
▼ + stars: | 2022-12-21 | by ( Leika Kihara | ) www.reuters.com time to read: +6 min

Waiting until next year would have forced the BOJ to combat intensifying market speculation of a near-term policy shift, or act when a deep U.S. recession could hit Japan's economy, they say. "When uncertainty is so high over the outlook for U.S. monetary policy, it probably wants to have a free hand on when next to act." POLITICS KEY TRIGGERThe abrupt timing of Tuesday's move also reflects growing political pressure for the BOJ to shift away from a policy narrowly focused on its 2% inflation target, the sources say. Hours before he met Kishida, Kuroda explained in parliament a framework on how the BOJ could exit ultra-easy policy in the future. Another dovish board member, Asahi Noguchi, also said earlier this month it "won't be surprising" for the BOJ to shift monetary policy.

☆ China's CATL to provide EV batteries for Honda starting in 2024
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +1 min

[1/2] People walk past the R&D centre of Contemporary Amperex Technology Ltd (CATL) in Ningde, Fujian province, China, December 16, 2016. REUTERS/Jake Spring/File PhotoTOKYO, Dec 8 (Reuters) - Honda Motor Co (7267.T) said on Thursday that Chinese battery giant CATL (300750.SZ) would supply batteries for seven years for its electric vehicles (EV) in China. The Japanese automaker said the Chinese firm would provide 123 GWh worth of batteries starting in 2024 through 2030 for the Honda's e:N Series. Honda said at that time it would launch its first EV with a CATL battery in China in 2022 and would expand the partnership with stable EV battery supply globally in the future. It unveiled the second model of its new China-only EV lineup in November as part of its effort to roll out the e:N Series.

☆ Renault-Nissan alliance talk certain to spill into new year, sources say -Bloomberg
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Dec 8 (Reuters) - The talks between Renault SA (RENA.PA) and Nissan Motor Co (7201.T) over alliance restructuring are certain to spill into next year, Bloomberg reported on Thursday, citing people familiar with the matter. The automakers are looking to make announcements toward the end of January, Bloomberg reported. Reporting by Satoshi SugiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ Honda to begin selling mini-commercial electric vans in spring 2024
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Dec 7 (Reuters) - Honda Motor Co (7267.T) said on Wednesday it would begin selling micro-sized commercial electric vans in spring 2024, as part of its effort to electrify its vehicle lineups. Japanese automakers are turning to small commercial trucks as one way to make battery electric vehicles (BEVs) popular in the country, tapping into car size unique to the country amid pressure to slash its carbon footprint. Honda's electric van has a target cruising range of 200km (125 miles) and is seeking to set the price at around 1 million yen ($7,270). Commercial vehicle coalition CJPT, led by Toyota Motor Corp (7203.T), said in July it would develop small electric commercial vans with minivehicle specialists Daihatsu and Suzuki Motor Corp (7269.T). Honda in April laid out goals of producing some 2 million electric vehicles a year and 30 electric vehicle models globally by 2030.

☆ Toyota offers cheaper Prius if customers take software updates
▼ + stars: | 2022-12-07 | by ( Satoshi Sugiyama | ) www.reuters.com time to read: +2 min

The lease program will require customers to opt in for a service expected to bring monthly lease payments down by 10%, Toyota's leasing affiliate said. The service marks the first time Toyota will update its safety features, including the collision avoidance system, for a car on the road, said Shinya Kotera, president of KINTO, the Toyota leaser unit in Japan. Tesla has routinely used over-the-air software updates to improve charging speed on its electric vehicles, unlock additional battery range and fix safety issues. Toyota unveiled the new Prius last month amid criticism from ESG investors and environmental groups for its slow rollout of fully electric vehicles. The leasing unit wants to expand the service to other vehicles within a year or two and is considering plans to make it a global offering, Kotera said.

☆ China's BYD to start selling EVs in Japan by early 2023
▼ + stars: | 2022-12-05 | by ( Satoshi Sugiyama | ) www.reuters.com time to read: +2 min

China's BYD, in which Berkshire Hathaway (BRKa.N) owns a stake, said it will roll out an electric sports utility vehicle, ATTO 3, in Japan starting Jan. 31. BYD's Japan chapter is planning to introduce two more models by the end of 2023 and more than 100 dealerships in Japan by the end of 2025, the company said. However, the share of the battery-driven vehicles is expected to grow, partly due to non-Japanese automakers like BYD and Volkswagen (VOWG_p.DE) making their way into the market. BYD's Japan division is planning to set up tentative retailers starting late January in 22 cities but is eager to cover all 47 prefectures, said Atsuki Tofukuji, BYD Auto Japan Inc chief executive. Japanese automakers have recently been criticised by activists and green investors, who slam them for not embracing battery electric vehicles fast enough.

TOKYO, Dec 3 (Reuters) - Renault SA (RENA.PA) and Nissan Motor Co (7201.T) are set to forgo a Wednesday announcement of a deal to restructure their automotive alliance as they struggle to bridge their differences, three people familiar with the matter said. The French and Japanese carmakers remained apart on how to share intellectual property, the people, who declined to be named, said. Renault and Nissan declined to comment. The companies have been aiming to announce the new alliance structure as early as this month, Reuters reported this week. The question of how to share technology and intellectual property has proved to be a sticking point in the talks.

☆ Mazda sees no impact on Japan vehicle production from current China lockdowns
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 30 (Reuters) - Mazda Motor Corp (7261.T) does not expect to have problems maintaining production in Japan for the time being despite COVID lockdowns in China as the automaker has sufficient inventories of parts, a company executive said on Wednesday. A draconian two-month lockdown in Shanghai earlier this year forced the Hiroshima-based automaker to suspend production for 11 days at its two domestic plants due to a lack of parts. "One of the measures that we are taking now to reduce the risk is to bring the inventory to Japan," said Takeshi Mukai, senior managing executive officer. The automaker wants to ensure it can withstand one month of COVID restrictions in China and another subsequent month of after-effects, he added. Mazda said in August it would ask its parts suppliers to increase stockpiles in Japan and produce components outside China as part of efforts to strengthen its supply chain.

☆ Toyota's Oct global vehicle production up 23%, above its target
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 29 (Reuters) - Toyota Motor Corp (7203.T) reported on Tuesday a 23% rise in October global vehicle output, beating its own target for a third month in a row, as the industry strives to get past persistent chip shortages that have hobbled production. The Japanese automaker produced 771,382 vehicles globally in October, above a downgraded target of 750,000 units and up 23% from the same month a year earlier. Earlier this month Toyota cut its annual output target, as it battles surging material costs and a persistent chip shortage. Toyota expects to produce 9.2 million vehicles this fiscal year ending March 2023, down from the previous forecast of 9.7 million but still ahead of last finacial year's production of about 8.6 million units. Reporting by Satoshi Sugiyama; Editing by Muralikumar Anantharaman and Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

☆ Japan PM Kishida's approval hits new low after ministers resign
▼ + stars: | 2022-11-27 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 27 (Reuters) - Japanese Prime Minister Fumio Kishida's public support slipped to a new low in a poll published on Sunday, as a series of cabinet resignations has compounded anger over the ruling party's ties to a controversial religious group. Support for Kishida's cabinet fell to 33.1% from 37.6% a month ago in the Kyodo news poll, his lowest in the agency's surveys since he took office in October 2021. Exacerbating the government's problems, scandals have forced three cabinet members from office since last month. The Kyodo poll found 62.4% of respondents disapproving of how Kishida had handled the resignations of Economic Revitalisation Minister Daishiro Yamagiwa, Justice Minister Yasuhiro Hanashi and Internal Affairs Minister Minoru Terada. Kishida's approval failed to get a boost from a $200 billion economic support package to ease inflationary pains fuelled by the yen's plunge to 32-year-lows.

☆ Japan auto lobby opposes plan to tax mileage of electric vehicles
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 17 (Reuters) - A Japanese automobile lobbying group "firmly opposes" a plan for mileage tax on electric vehicles (EVs), an official of the group said on Thursday, adding that it would slow electrification efforts. "We are firmly opposed to the hasty introduction of measures such as a mileage tax without public discussion," said Seiichi Nagatsuka, vice chair of the Japan Automobile Manufacturers Association. Suzuki said EVs, unlike gasoline vehicles, are not taxed at the driving stage through fuel taxation. He added that EVs are heavier than gasoline-powered vehicles, which have a large role in road damage. Speaking at a news conference, Nagatsuka called for extending tax breaks on low-emission cars to spur electrification as consumers battle inflation and endure longer waiting times for delivery their vehicles.

☆ Japan auto lobby opposes plan for mileage tax on electric vehicles
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Nov 17 (Reuters) - A Japanese automobile lobbying group "firmly opposes" a plan for mileage tax on electric vehicles, an official of the group said on Thursday, adding that it would slow electrification efforts. "We are firmly opposed to the hasty introduction of measures such as a mileage tax without public discussion," said Seiichi Nagatsuka, vice chair of the Japan Automobile Manufacturers Association. Japan's Finance Minister Shunichi Suzuki floated the plan among the ideas he mentioned in a parliamentary debate last month to tackle a severe financial situation. Reporting by Satoshi Sugiyama; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Toyota revamps Prius in bid to give hybrids back their halo
▼ + stars: | 2022-11-16 | by ( Satoshi Sugiyama | ) www.reuters.com time to read: +2 min

Toyota billed the new Prius, with its shark-like front and ability to operate as an electric-only vehicle for most daily driving, as a way bring hybrids to a wider audience. Launched in 1997, the petrol-electric Prius hybrid was a hit with eco-conscious drivers and even now it is among the most fuel-efficient mid-priced. The hybrid models will launch this winter and the plug-in hybrids will launch in the spring, it said. The new Prius will be the first to feature Toyota's 2-litre plug-in hybrid system, which includes an EV driving range that is about 50% higher than that of the previous model, Toyota said. Toyota has also pushed back against critics, saying hybrids make sense in markets where infrastructure isn't ready to support a faster move to battery vehicles.

☆ Japanese chipmaker Rohm considering joining JIP for Toshiba buyout
▼ + stars: | 2022-11-16 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: +2 min

TOKYO, Nov 16 (Reuters) - Japanese chipmaker Rohm Co Ltd (6963.T) said on Wednesday it was considering joining a consortium led by private equity fund Japan Industrial Partners (JIP) to buy out Toshiba Corp (6502.T), as JIP works to consolidate its proposal. The Nikkei newspaper reported that Kyoto-based Rohm planned to invest up to about 300 billion yen ($2.14 billion) in the proposed 2.2 trillion yen acquisition of Toshiba, citing multiple sources it did not name. A Rohm spokesperson confirmed that the company was considering joining the JIP consortium for the buyout but added that nothing had been decided, including the amount of any investment. Rohm and Toshiba are both major manufacturers of power management chips, which efficiently control electric power in cars, electronic devices and industrial equipment. JIP has contacted several Japanese companies to join the bid for Toshiba, including utility Chubu Electric Power Co Inc (9502.T) and financial services group Orix Corp (8591.T), sources familiar with the matter have said.

☆ Honda posts 16% rise in Q2 operating profit, missing estimates
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Nov 9(Reuters) - Japan's Honda Motor Co (7267.T) on Wednesday posted a 16% rise in second-quarter operating profit, missing analysts' estimates. Operating profit totalled 231.2 billion yen ($1.59 billion)in the three months to end-September, versus an average estimate of 243.3 billion yen profit in a poll of 10 analysts by Refinitiv. The same period a year earlier, the company earned 198.9 billion yen. ($1 = 145.7500 yen)Reporting by Satoshi Sugiyama; Editing by David DolanOur Standards: The Thomson Reuters Trust Principles.

☆ Nissan posts 45% rise in Q2 operating profit, hikes full-year outlook
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

A year earlier it earned 63.4 billion yen. The company raised its full-year operating profit forecast to 360 billion yen from 250 billion yen. That compares with a 335.13 billion yen average forecast by 21 analysts. Renault has a 43% stake in Nissan while the Japanese automaker has a 15% non-voting stake in Renault. Like other Japanese automakers, Nissan has been forced to make adjustment to its production plan due to persistent semiconductor supply disruptions.

☆ Japan's Honda launches new EV model in China
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 5 (Reuters) - Japan's Honda Motor Co (7267.T) unveiled the second model of its new China-only electric vehicle (EV) lineup on Saturday, targeting the fast-growing, battery-driven car segment in the world's largest auto market. It began selling the first model in China in April. "Honda is transforming itself into an electric brand in China with a series of unique and diverse electric mobility products that only Honda can offer," said Honda CEO Toshihiro Mibe in a statement. Honda laid out a target to roll out 30 EV models globally and produce some 2 million EVs a year by 2030 earlier this year. Last year, it said it would introduce only electrified vehicle models in China after 2030, including battery electric, hydrogen fuel-cell or petrol-electric automobiles.

☆ Honda launches new EV model in China
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +1 min

☆ Mitsubishi Motors says no decision yet on investing in Renault's new EV unit
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 2 (Reuters) - Mitsubishi Motors Corp (7211.T), a junior partner in the Nissan Motor Co (7201.T) and Renault (RENA.PA) alliance, has not made a decision yet on whether to invest in the French automaker's electric vehicle company, a top executive said on Wednesday. Mitsubishi would consider whether taking part in the EV unit would be beneficial for the Japanese automaker's product development in the future, Kato said. The Japanese and French automakers said last month they were in talks about the future of their alliance, including Nissan potentially investing in the electric vehicle business being spun out of Renault. Mitsubishi will likely invest a few percent in the new Renault unit to retain its alliance relationship, Reuters reported last month, citing a person familiar with the matter. Reporting by Satoshi Sugiyama; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ Tokyo begins same-sex partnership recognition
▼ + stars: | 2022-11-01 | by ( Associated Press | ) www.nbcnews.com time to read: +4 min

TOKYO — Tokyo began issuing certificates recognizing same-sex couples on Tuesday, becoming the largest municipality to do so in a country in which same-sex marriage is not allowed. Seven years after Tokyo’s Shibuya district first introduced same-sex partnership recognition in 2015, more than 200 smaller towns have joined the move, accounting for less than one-fifth of Japanese municipalities. Still, many sexual minority couples say the partnership recognition will improve their daily lives, allowing them to rent apartments and sign documents in medical emergencies, and in inheritance. Fumino Sugiyama, a transgender activist, said the certificates recognize the presence of sexual minorities and the need to recognize their rights. Moda said the certificate only recognizes partnerships between adults and needs to cover children of same-sex couples.

☆ Toyota cuts output target amid chip crunch as profit tumbles 25%
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +3 min

Operating profit for the three months ended September fell to 562.7 billion yen ($3.79 billion), well short of an average estimate of 772.2 billion yen in a poll of 12 analysts by Refinitiv. A year earlier, Toyota sales reported a 749.9 billion yen profit. Toyota said it now expects to produce 9.2 million vehicles this fiscal year, down from the previously forecast 9.7 million but still ahead of last financial year's production of 8.6 million units. Amid the gloom, shares in Toyota fell more than 2%, versus a 0.1% rise in the Nikkei (.N225) average. Toyota estimated in August that materials costs for the full year will be 1.7 trillion yen, a 17% increase from previous estimate.

☆ Panasonic to start building Kansas battery plant next month
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +3 min

The conglomerate also lowered its full-year operating profit forecast to 320 billion yen ($2.16 billion) from 360 billion yen for the year ending March 31. That compares with a 349.9 billion yen average forecast by 19 analysts. Panasonic posted an 11% drop in second-quarter operating profit, but performed better than analysts' estimates. It reported 86.1 billion yen ($582.54 million) in operating profit for the three months to end-September, versus an average 81.6 billion yen profit estimated by nine analysts, according to Refinitiv data. Panasonic has said that, by 2029, it plans to expand its battery production capacity by three to four times, with most of the increase in North America.

☆ Toyota profit to rise but eyes will be on its shaky supply chain, EV strategy
▼ + stars: | 2022-10-31 | by ( Satoshi Sugiyama | ) www.reuters.com time to read: +3 min

TOKYO, Oct 31 (Reuters) - Toyota Motor Corp (7203.T) is expected to report a small quarterly profit increase on Tuesday, with soaring costs of parts and materials nearly offsetting the benefits from the plunging Japanese yen and a rebound in production. Toyota warned earlier this month that it is unlikely to meet its 9.7 million vehicle production goal for this financial year due to a scarcity of chips. It will be the first profit increase in three quarters and mark a big improvement from a sharper-than-expected 42% plunge in June quarter profit, partly helped by the yen which has further extended its loss. Toyota estimated in August material cost for the full year to be 1.7 trillion yen, a 17% increase. Just a year into its $38 billion EV plan, Toyota is already considering rebooting it to better compete in a market growing beyond its projections, Reuters reported this month.

☆ Toyota supplier Denso posts 76% rise in Q2 profit
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Oct 28 (Reuters) - Denso Corp (6902.T), Toyota Motor Corp's major supplier, reported a 76% rise in second-quarter operating profit on Friday, missing analysts' estimates. It posted 91.8 billion yen ($626.5 million) in operating profit for the three months to end-September, versus an average 120.48 billion yen profit estimated by five analysts, according to Refinitiv data. A year earlier, the company earned 52.1 billion yen in profit. The company specialising in vehicle air conditioning, power trains and automated driving systems stuck to its already downgraded full-year operating profit forecast of 480 billion yen for the year ending March 31. That compares with a 211 billion yen average forecast by 21 analysts.

☆ Toyota says quarterly output up 30%, but parts shortages continue
▼ + stars: | 2022-10-28 | by ( Satoshi Sugiyama | ) www.reuters.com time to read: +2 min

TOKYO, Oct 28 (Reuters) - Toyota Motor Corp on Friday said global production climbed 30% in the quarter ended in September, but warned the shortages of semiconductors and other parts that have roiled the auto industry would still constrain output in coming months. In the July to September quarter, global sales were up 4%, according to a Reuters calculation based on the company's disclosures. The announcement came a week after Toyota said it was unlikely to meet its 9.7 million vehicle production goal for this financial year due to a scarcity of chips. The spokesperson declined to comment on a new production target. Shortages of semiconductors have hit Toyota's production in Japan harder than its overseas factories, Toyota said.

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