DIRS.INFO The most relevant business & tech news

☆ Nissan stock slumps after it announces 9,000 job cuts and a plan to slash production
▼ + stars: | 2024-11-08 | by ( ) edition.cnn.com time to read: +2 min

Nissan Motor shares slumped 6% in Tokyo trade Friday, a day after the Japanese automaker said it would cut 9,000 jobs and a fifth of its manufacturing capacity as it struggles with sales in China and the United States. It said restructuring would cut costs by 400 billion yen ($2.61 billion) in the financial year to the end of March. Nissan is also challenged in the US where it lacks a line-up of hybrids just as that vehicle type is in strong demand. On Friday, Japan’s Minister of Economy, Trade and Industry Yoji Muto declined to comment to reporters when asked his views on potential government support for Nissan. “The company released its mid-term plan this spring, but in the end there was no meaning to that.

Persons: Japan’s, Makoto Uchida, Carlos Ghosn, Industry Yoji Muto, Seiji Sugiura, ” Sugiura, Nissan’s Organizations: Nissan Motor, Nissan, Renault, Japan’s, Economy, Trade, Industry, Tokai Tokyo Intelligence Laboratory Locations: Tokyo, China, United States

☆ Toyota to restart Japan production on Wednesday after system failure
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +3 min

SummaryCompanies Toyota suspends production at all 14 domestic assembly plantsSystem failure preventing Toyota from ordering partsCause under investigation, not likely to be a cyberattackPlants make up third of Toyota world output -Reuters calculationStock closes down 0.2%TOKYO, Aug 29 (Reuters) - Toyota Motor (7203.T) will restart operations at its assembly plants in Japan on Wednesday, after a production system malfunction brought domestic output to a halt at the world's biggest-selling automaker. The plants together account for about a third of the automaker's global production, Reuters calculations showed. Toyota's domestic production had been on the rebound after a series of output cuts it blamed on semiconductor shortages. Its Japan output averaged about 13,500 vehicles daily in the first half of the year, Reuters calculations showed. Toyota is a pioneer of just-in-time inventory management, which keeps down costs but means supply chain snarls put production at risk.

Persons: Seiji Sugiura, Satoshi Sugiyama, Miyoung Kim, Kevin Krolicki, Daniel Leussink, David Dolan, Christopher Cushing, Mark Potter Organizations: Toyota, Daihatsu, Hino, Kyodo, REUTERS Acquire, Analysts, Tokai Tokyo Research Institute, Toyota Industries, Thomson Locations: TOKYO, Japan, , Toyota, Aichi Prefecture, China

☆ Toyota revamps iconic Land Cruiser with hybrid version
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] Toyota Motor Corp.'s new Land Cruiser is pictured at its unveiling event in Tokyo, Japan August 2, 2023, in this photo taken by Kyodo via REUTERSCompanies Toyota Motor Corp FollowTOKYO, Aug 2 (Reuters) - Toyota (7203.T) on Wednesday unveiled the first hybrid version of its Land Cruiser that it will bring to North America and other key markets as it seeks to put a high-margin and iconic sports utility vehicle back on the map. Land Cruiser models are relatively big cars that come with a higher profitability for Toyota, just as is the case for some other models such as its Alphard van, said Seiji Sugiura, an analyst at Tokai Tokyo Research Institute. The new Land Cruiser will become available in Japan in the first half of 2024, and come to the United States in the spring of that year, Toyota said, adding that suggested retail pricing in the United States will start in the mid-$50,000 range. Toyota said it will offer gasoline and diesel-powered versions of the new Land Cruiser in markets such as Western and Eastern Europe and the Middle East, and also bring a smaller Land Cruiser version to Japan in the winter. The Land Cruiser and the Lexus LX and GX, which are luxury SUVs, have together sold 11.3 million units as of the end of last month, Toyota said.

Persons: Hiroki Nakajima, Seiji Sugiura, Sugiura, Daniel Leussink, Simon Cameron, Moore Organizations: Toyota Motor Corp, Kyodo, REUTERS Companies Toyota Motor Corp, Toyota, Wednesday, Cruiser, North, Cruisers, Tokai Tokyo Research Institute, Lexus, Thomson Locations: Tokyo, Japan, North America, United States, Eastern Europe

Shares in Sushiro’s owner, Food & Life Companies Co Ltd, fell 4.8% last Tuesday, as the video circulated. In a statement last Wednesday, Food & Life Companies said it had filed a police report against the customer, alleging damages. Two other leading conveyor belt sushi chains, Kura Sushi and Hamazushi, told CNN that they had experienced similar disruptions. In recent weeks, some Japanese social media users have questioned the role of conveyor belt sushi restaurants as consumers demand more attention to cleanliness. Sushiro, the Japanese sushi chain, is replacing real sushi with photographs of sushi on its conveyor belts.

☆ 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.

The talks, which could prompt the biggest reset in the alliance since the 2018 arrest of longtime executive Carlos Ghosn, have included consideration of Renault selling some of its Nissan stake, two people with knowledge of them said. Renault and Nissan said in a joint statement that they were "engaged in trustful discussions around several initiatives" including a potential Nissan investment in the EV venture and what they called "structural improvements" in their alliance. In exchange for investing in the EV venture, Nissan is looking to Renault to reduce its stake in the Japanese automaker, a person familiar with the talks said. Nissan may consider raising funds to buy back the shares held by Renault, one person told Reuters. Nissan may need to raise funds to buy the shares back from Renault, the source added.

Search resuls for: "Sugiura"

6 mentions found