WIRE REPORTS

Toyota Raises Full-Year Profit Forecast on Sales Recovery BusinessWeek The maker of the Camry sedan raised its vehicle sales forecast for the second time in less than a month as it rolls out new versions of the Prius gas-electric hybrid car and Lexus luxury vehicles, joining Honda Motor Co. in predicting record deliveries ... and more » Toyota Q3 jumps, sees "tough race" in N. America Reuters Toyota, which has a market value of $135 billion -- more than rivals Honda Motor Co Ltd, Nissan Motor Co Ltd and Suzuki Motor Corp combined -- now sees annual net profit, which includes earnings made in China, of 200 billion yen , up from the 180 ... and more » Toyota Q3 jumps, sees "tough race" in North America Reuters Toyota, which has a market value of $135 billion -- more than rivals Honda Motor Co Ltd, Nissan Motor Co Ltd and Suzuki Motor Corp combined -- now sees annual net profit, which includes earnings made in China, of 200 billion yen , up from the 180 ... and more » Toyota Q3 jumps, raises full-year outlook ABS CBN News The company, which has a market value of $135 billion -- more than rivals Honda Motor Co Ltd, Nissan Motor Co Ltd and Suzuki Motor Corp combined -- now sees annual net profit, which includes earnings made in China, of 200 billion yen , up from the 180 ... and more » Toyota Q3 jumps, raises full-year outlook Reuters UK The company, which has a market value of $135 billion (85 billion pounds) -- more than rivals Honda Motor Co Ltd, Nissan Motor Co Ltd and Suzuki Motor Corp combined -- now sees annual net profit, which includes earnings made in China, of 200 billion ... and more » India auto group opposes tax cuts for Europe cars MarketWatch The group also said that allowing cheaper imports of European cars would be unfair to US, Japanese and South Korean companies such as General Motors Co., Ford Motor Co., Hyundai Motor Co. and Honda Motor Co., which have invested significantly in the ... Honda small claims? Not here. News & Observer BY BRUCE SICELOFF - Staff Writer Heather Peters got the better of two big industries - international carmakers and high-dollar lawyers - when she spurned a class-action lawsuit and went one-on-one against American Honda Motor Co. in a California small ... and more » Japan Adopts Stealth Intervention as Yen Gains Hurt Growth San Francisco Chronicle The currency's strength has eroded profits at exporters such as Sharp Corp. and Honda Motor Co., just as faltering global growth undermines demand. "Japan has clearly shown its intention to stop a further appreciation of the yen, and there is a high ... and more » Briefs: Moody's gives Honda's credit negative rating The Detroit News Honda Motor Co . and its affiliates' credit rating outlook was cut to negative from stable Monday by Moody's Investors Service on concern the automaker faces "significant challenges" in regaining its market share. The carmaker's rating could be reduced ... and more » Japan Adopts Stealth Intervention as Yen Gains Hurt Growth BusinessWeek The currency's strength has eroded profits at exporters such as Sharp Corp. and Honda Motor Co., just as faltering global growth undermines demand. ?Japan has clearly shown its intention to stop a further appreciation of the yen, and there is a high ... and more »

DAILY REPORTS

Jan 20 Tokyo shares hit 10-week high as weaker yen sparks exporters Tokyo stocks posted strong gains Friday, as a sharply higher euro on the back of easing tension over euro-zone financial issues, helped exporters such as Honda Motor Co., Canon Inc. and TDK Corp. to push the Nikkei Stock Average to a fresh 10-week high. The Nikkei added 126.68 points, or 1.5%, to 8766.36 following the prior session's 1.0% advance. The closing mark was the highest for the benchmark index since Nov. 7. For the week, the Nikkei added 3.1% and is now up 3.7% for the year so far. The Topix index of all the Tokyo Stock Exchange First Section issues also added 14.79 points, or 2.0%, to 755.47, with 31 of 33 subindexes ending in positive territory. Volume continued to look brisk, as 2.59 billion shares changed hands--the highest total since Aug. 9. It was the third straight session that the figure exceeded 2.0 billion, underscoring the return of robust investment flows. (Wall Street Journal) Jan 15 Honda to build NSX 'supercar' in Ohio With one announcement last week at the 2012 North American International Auto Show in Detroit, Honda surprised auto industry observers in at least two ways. First, the automaker is resurrecting the rare-but-beloved Acura NSX "supercar." And second, the new NSX will be designed and built in Ohio, not Japan, where the model's previous iteration was built from 1990 to 2005. Already, preliminary development work for the NSX has been handed off from Japan to Honda's Center of Research and Development in Raymond, Ohio, about 140 miles northeast of Dayton, a Honda spokesman said. (Channel NewsAsia) Jan 11 Toyota Prius Japan top-selling car for third year The Prius gas-electric hybrid was Japan's top-selling vehicle in 2011 for the third straight year, underlining how the ecological car has scored a big hit. Sales of Toyota Motor Corp.'s Prius totaled 252,528 vehicles in 2011, the Japan Automobile Dealers Association said Wednesday. The Fit subcompact from Japanese rival Honda Motor Co., which also comes in hybrid models, was No. 2. Government-backed incentives and tax breaks have lifted the sales of ecological models despite a sluggish Japanese auto market. (AP) Jan 4 Japanese automakers say goodbye to disaster-filled 2011 The big Japanese automakers are happy to see 2011 in their rear-view mirrors. The Detroit auto companies posted a double-digit sales increase for the year, but the big Japanese brands -- especially Toyota Motor Corp. and Honda Motor Co. -- were hamstrung by a series of natural disasters. First, the Japanese earthquake and tsunami in March hit, and then, later in the year, flooding closed parts suppliers in Thailand, disrupting their global auto manufacturing and leaving them with too few cars for the American market. Toyota saw its sales fall 6.7% to 1.6 million vehicles last year. Its sales in December grew by just a few hundred vehicles to 178,131 compared with the same month a year earlier. Honda's annual sales fell 6.8% to 1.1 vehicles. Its December sales fell 19% to 105,230 vehicles. (Los Angeles Times) Dec 5 Honda prays for disaster-free U.S. rebound led by new models Honda Motor Co. says a replenished vehicle inventory and new Honda and Acura models planned for the next 24 months will spur a U.S. sales rebound next year after natural disasters dashed its 2011 goals. Honda's loss of some North American output in October and November due to parts shortages caused by floods in Thailand led to it being the only large automaker to post a U.S. sales decline last month as sales for all makers lumped together jumped 14 percent. That came after six months of declines resulting from reduced auto inventory triggered by the March quake and tsunami. (Japan Times) Dec 3 Honda announces global recall for air-bag problems Honda Motor Co. is recalling 304,000 vehicles globally for air-bags that may inflate with too much pressure in a crash, send metal and plastic pieces flying and cause injuries or deaths. Honda said there have been 20 accidents so far related to this problem, including two deaths in the U.S. in 2009. The Japanese automaker announced the recall Friday, which affects the Accord, Civic, Odyssey, Pilot, CR-V and other models, manufactured in 2001 and 2002. The recall spans 273,000 vehicles in the U.S., some 27,000 in Canada, nearly 2,000 vehicles in Japan and another 2,000 in other countries. It affected 359 vehicles in Europe - 200 in Germany, 158 in Israel and one in Great Britain, according to Honda. (AP) Nov 30 Highlights of the Tokyo Motor Show 2011 It's been a tough year for Japanese automakers. The March earthquake and tsunami crippled production of cars and parts for months. And the soaring value of the yen is taking a bite out of profits on exports. But Japan's automakers were determined to not let those factors overshadow its biennial auto show. Honda rolls out an electric roadster and maps out its powertrain plans for the future, Toyota and Subaru show their new sports coupes, Nissan gives the Juke a Nismo makeover, Mazda previews its next-generation sedan and Volkswagen launches a new design theme for its SUVs. (AutoWeek) Nov 30 Honda planning to market hybrid Accord next year Honda Motor Co. plans to introduce a hybrid version of its Accord sedan next year, President Takanobu Ito said Wednesday. "We are currently developing a hybrid engine system for midsize to large vehicles," Ito said in an interview at the Tokyo Motor Show. Toyota Motor Corp. said Tuesday it plans to introduce a plug-in version of the best-selling Prius in Japan at the end of January, with prices starting at ¥3.2 million. (Japan Times) Nov 12 Baseball: Japan Series table setters study in contrasts The Japan Series, which begins this afternoon in Fukuoka, could develop into a top-of-the-order battle of the ages. The Hawks, who scored at least one first-inning run a Japan-high 46 times this season, are spearheaded by 30-year-old leadoff man Munenori Kawasaki, the team's shortstop and 26-year-old Yuichi Honda, his double play partner at second base. Although the big name in the heart of the Hawks' lineup this season has been No. 3 hitter Seiichi Uchikawa, his opportunities to drive in runs lives and dies with Kawasaki and Honda at the top of the order. (Yomiuri) Nov 8 Honda shows smarter hopping Asimon robot, applying technology to help in nuclear crisis Honda's human-shaped robot can now run faster, balance itself on uneven surfaces, hop on one foot and pour a drink. Some of its technology may even be used to help out with clean-up operations at the stricken Fukushima nuclear plant. Honda's demonstration of the revamped "Asimo" on Tuesday at its Tokyo suburban research facility was not only to prove that the bubble-headed childlike machine was more limber and a bit smarter. It was a way to try to answer some critics that Asimo, first shown in 2000, had been of little practical use so far, proving to be nothing more than a glorified toy and cute showcase for the Honda Motor Co. brand. (Washington Post) Nov 7 Japan Inc's earnings problems are home grown Something is amiss with Japan's biggest names. Sony, Panasonic and Honda were three whose earnings were battered in the latest quarter, but they weren't alone. Earnings at the 493 Japanese companies that announced results as of Oct. 31 were 57 percent short of their forecasts, according to Deutsche Bank. Excuses abound, from earthquakes to weak U.S. demand. But it's problems at home that make them so susceptible. Japan's corporate titans were hit by many of the worries that plague their global cousins. Europe's debt crisis and weak U.S. growth are hurting demand for gadgets and appliances. Floods in Thailand added a cruel twist, since many Japanese companies have cut costs by shifting some production facilities there. Some, like Honda, had only just got back up to speed after February's earthquake in northern Japan. (Reuters) Oct 31 Japan Inc. struggles with yen rise, Thai floods Japan's biggest corporations are facing an ever tougher fight to keep up with their nimble Asian rivals as the soaring yen and Thai flooding hit manufacturers already battling consumer gloom in Europe and the United States. From Nintendo to Panasonic, Sony and Honda, Japan Inc. is struggling to fend off competition from the likes of Samsung and Hyundai, which have been steadily nipping at their heels, as the soaring yen and supply disruptions undermine their recovery attempts. Even after a slide in the value of the yen triggered by what appeared to be another round of government intervention on Monday, the Japanese currency stood at about 79.2 yen against the dollar, after a relentless rise from more manageable levels of about 100 yen three years earlier. (Reuters) Oct 25 Honda adds 1,000 workers, second shift in Indiana Honda Motor Co. said Monday it has added 1,000 new workers to staff a second shift at its factory in Greensburg, Ind., where the Civic compact car is made. The added shift increases production at the factory to 200,000 cars per year, and is the latest sign that Honda production is returning to normal after being disrupted by the March 11 earthquake and tsunami in Japan. Earlier in the year, Honda's U.S. production was cut severely due to parts shortages from Japan. The earthquake and tsunami damaged factories and knocked out electricity to parts supply companies. The Civic, new for 2012, is the last Honda car to return to normal production (BusinessWeek) Oct 12 Thai flooding halts auto production Honda Motor Co. and Toyota Motor Corp. have suspended some of their vehicle manufacturing in Thailand after key production bases were affected by flooding, officials of the companies said. As the strength of the yen eats into Japanese exporters' profits, some Japanese companies are using Thailand as an important manufacturing base. If the disruption is prolonged, it could upset their production and export plans. On Tuesday, Honda officials said its vehicle manufacturing plant in Ayutthaya in central Thailand has suspended operations since Oct. 4 and there is no prospect of resuming production at the moment. (Japan Times) Oct 10 Soccer: Zaccheroni ready for Japan to 'create opportunities' against Tajikistan in qualifier Japan coach Alberto Zaccheroni has brushed off concerns over the Asian champions' recent lack of firepower, but admits he is expecting another tight World Cup qualifier against Tajikistan in Osaka on Tuesday night. In the absence of star midfielder Keisuke Honda, who is recovering from a serious knee injury, Japan has gone off the boil since romping past South Korea 3-0 in a friendly in Sapporo in August. Zaccheroni's men needed a 94th-minute goal from defender Maya Yoshida to squeeze out a 1-0 win in their opening Group C game at home to North Korea, before grinding out a 1-1 draw to take a fortuitous point away to Uzbekistan last month. (Japan Times) Oct 7 Ghosn decries lack of yen action Carlos Ghosn, chief executive officer of Nissan Motor Co., said Japan faces a "hollowing out" of its industrial base should the government fail to take steps to counter the yen's rise. "I have spoken to the prime minister about this directly," Ghosn said in an interview from Rio de Janeiro on Thursday after Nissan announced a new $1.4 billion auto plant in Brazil. "If Japan wants employment, you're going to have to do something about establishing a normal exchange rate." Nissan, Toyota Motor Corp. and Honda Motor Co. are shifting production overseas as the yen's surge erodes the profitability of building cars in their home market. The yen has risen 5.7 percent this year against the dollar and touched a postwar high of 75.95. (Japan Times) Oct 5 Toyota still 11th in best global brand Toyota Motor Corp. retained 11th place in the 2011 Best Global Brands list, the highest ranking among global automakers, according to the U.S. consulting firm Interbrand Corp. Toyota was praised for its efforts to regain public trust after a series of massive recalls in the U.S. and its promotion of environmentally friendly cars, Interbrand said. Toyota was also the highest-ranked brand among Japanese companies, followed by Honda Motor Co. in 19th spot and Canon Inc. in 33rd place. (Japan Times) Oct 4 Toyota, Honda lose market share in September U.S. sales rebound Toyota Motor Corp. and Honda Motor Co., still struggling to deliver enough vehicles to dealers, lost share of the U.S. market as Nissan Motor Co. grew more than expected and industrywide sales were the best since April. Toyota, held back by tight supplies of Prius hybrids and Tundra pickups, sold 17 percent fewer vehicles, reducing its share to 11.5 percent from 15.3 percent a year earlier, according to researcher Autodata Corp. Honda's 8 percent drop in deliveries cut its share by 1.7 points to 8.5 percent. Inventory at Toyota was about 40 percent less at the beginning of the month than a year earlier, said Bob Carter, group vice president of U.S. sales. (BusinessWeek) Sep 28 Honda enters mass car market Honda of Japan on Tuesday launched its much awaited small car Brio, thus making its entry into the crowded and highly competitive mass car segment. Priced between Rs.3.95 lakh and Rs.5.10 lakh for four variants, Brio is equipped with four cylinder 1.2-litre i-VTEC engine delivering 88 PS of power and fuel economy of 18.4 km a litre. (Hindu) Sep 22 Japan Stocks Drop as Fed, EU Watchdog Highlight Risks to Banks Japanese stocks fell the most in more than a week after the Federal Reserve pointed to "significant downside risks" to the U.S. growth outlook and Europe's risk watchdog said threats to the region's banks have increased "considerably." Mitsubishi UFJ Financial Group Inc. led declines among lenders on growing international turmoil and after BNP Paribas SA said Japan's banking industry is "deteriorating." Honda Motor Co., Japan's second-largest carmaker, slid 3.9 percent. Softbank Corp. plunged 12 percent after a report it will lose the role of exclusive provider of Apple Inc.'s iPhone in Japan. The Nikkei 225 Stock Average lost 2.1 percent to 8,560.26 at the 3 p.m. close of trading, the biggest drop since Sept. 12. The broader Topix index dropped 1.7 percent to 744.54 after investors were disappointed by a Fed plan to support growth in the world's biggest economy by buying $400 billion of longer- term debt. (BusinessWeek) Sep 18 Motor racing: Scott Dixon wins Indy Japan Pole-sitter Scott Dixon of New Zealand won the Indy Japan on Sunday to stay in contention for the IndyCar series championship with two races to go. The Target Chip Ganassi driver held off Will Power -- who moved into the championship lead -- to capture his second IndyCar win of the season. "I've got to give a lot of credit to Team Target," said Dixon, who won the Honda Indy 200 last month. "They gave me a great car with great pit stops and great fuel strategy." Team Penske's Power moved into first place in the standings with 542 points, 11 ahead of Dario Franchitti, who finished in eighth place after being penalized for hitting Ryan Briscoe's car on the 26th lap. (AP) Sep 5 Honda to Recall 962,000 Cars Honda Motor Co. said it would voluntarily recall 962,000 cars world-wide to repair problems with power windows and computer equipment. The car maker said no serious injuries or fatal accidents have been reported as a result of the problems. The company estimated it would spend ¥1.29 billion ($16.8 million) in Japan for the recall. Honda declined to elaborate on the costs for overseas recalls. The announcement came hard on the heels of another large recall and adds to Honda's headaches as it seeks to join Japanese rivals in bouncing back from production disruption in the aftermath of the March 11 earthquake and tsunami. (Wall Street Journal) Aug 8 Searching for a new Sony in the rubble of the great quake On a recent trip to Japan's devastated northeast coast, venture capitalist Yoshihito Hori chanced upon a group of fishermen outside an evacuation center collecting wood from the debris where homes once stood. They were pulling out the nails and cutting it up to sell as firewood for 500 yen ($6.37) a bundle. The quake that triggered a once-in-a-thousand year tsunami had destroyed the port and boats that provided their livelihood, forcing the men to become small-time entrepreneurs to get by. "History tells us that after a major quake or war there are more entrepreneurs coming up," says Hori, the founder of Globis Capital Partners and Globis Business School. Many of Japan's best-known firms, Sony and Honda included, grew from ventures that got their start amid the wreckage of World War II as America dismantled Japan's military-industrial complex. (Reuters) Aug 5 Honda to recall over 2m vehicles in US, China Honda Motor said Friday it will recall more than two million vehicles in the United States and China to update the software that controls their automatic transmission. Honda said in a press release on its US site that the vehicles in the voluntary recall will include Accord, CR-V and Element models. No injuries or deaths have been reported, the statement said. Honda China said in a statement on its website it had notified the nation's quality watchdog that from Monday, it would recall 760,515 cars to update the software that controls their automatic transmission. (Reuters) Aug 3 Strong yen hurts Japan automakers' faster-than-expected recovery The persistent strength of the yen is proving a headache for top Japanese automakers as they attempt to make up for losses caused by the massive March 11 earthquake and tsunami. Despite sharp falls in profits in the April-June quarter, a faster- than-expected recovery in supply chain conditions has prompted Toyota Motor Corp. and Honda Motor Co. to lift their earnings projections for the business year through March. "The quarterly results simply reflected whether their output recovery was slow or fast," said Kohei Takahashi, an analyst at JPMorgan Securities Japan. (Kyodo) [ More... ]