Tokai Rika shares have fallen by almost 10% after Toyota recall

Article by Christian Andrei, on October 15, 2012

Amid reports that Tokai Rika Co. built the parts cited in Toyota’s global recall this week of 7.43 million vehicles for defective power-window switches, its shares have fallen by almost 10% in Japan. Last Wednesday, Toyota said that the recall covers 2.47 million vehicles in the U.S. According to documents filed with U.S. safety regulators, nine injuries and 161 fires were reported due to the faulty parts but there had been no accidents or deaths.

Toyota said in the U.S. filing that its problem stemmed from sticky driver's-side window switches manufactured by Tokai Rika and its U.S. subsidiary, Tram Inc. of Plymouth, Michigan.

Bloomberg said that Toyota is the largest customer of Tokai Rika. Bloomberg said that its shares in Tokai Rika dropped 9.6% to 905 yen, which makes it the company on the Topix index with the third steepest drop.

No official comment has been given by Tokai Rika, a maker of power-window switches, parking brake switches and door mirrors. Spokesman Hitoshi Asano told Automotive News that it is just a parts supplier so it can’t comment. Toyota has said that it won’t talk about supplier matters related to the recall.

Topics: toyota, recall

If you liked the article, share on:


Login or Create new account to add a comment!


More than three decades ago, the DeLorean DMC-12 was produced by the DeLorean Motor Company. However, production was stopped due to issues within the company. The car itself was decent...
by - October 27, 2016
Tesla is making sure that all models under production will receive the necessary advanced hardware that will allow them to be autonomously driven. The fitment of these advanced hardware to...
by - October 27, 2016
Wondering how fast the 2017 Chevrolet Camaro ZL1 in actual driving? To provide customers a good idea on how fast the 2017 Camaro ZL1 could really get, Chevrolet recently had...
by - October 27, 2016
So, it is official! The new Honda Clarity FCV has the longest verified range of any zero-emissions vehicle currently on the road in the United States. One of the main...
by - October 27, 2016
Many have been anticipating Mercedes-Benz Vans’ newest luxury pickup truck, the X-Class. While Mercedes-Benz has yet to reveal the official production version of the X-Class, it was kind enough to...
by - October 27, 2016