Toyota Motor To Resume Production at Half Capacity (TM)

Toyota Motor Corporation TM said Friday that it will resume car production at all of its Japanese plants from April 18 to 27 at half capacity. Multiple earthquakes in the country have devastated numerous companies, and forced many to alter supply chains to accommodate. Thursday registered another earthquake in Japan, this time with a 7.4 magnitude. According to a Reuters report, "Toyota said the parts shortage has been gradually improving but it is still struggling to get around 150 types of parts. Toyota previously said there were shortages of about 500 types of components. The automaker has suffered a production loss of 260,000 cars from March 14 through to Friday." Toyota president Akio Toyoda said that "There are problems with parts supply. But each day, we are doing our utmost to improve the conditions so that we can deliver cars to many customers." Moody's Investors Service warned this week it may downgrade Toyota's credit rating due to the halted production. Toyota Motor Corporation is a Japanese-based company mainly engaged in the automobile business and financial business. Shares closed lower by $0.14 on Thursday, to $77.21.