Toyota Motor Corp., will resume production at its plants in Japan on April 18, 2011, and will continue operating through April 27, according to spokesperson Paul Nolasco. The company, however, will operate at only 50% of its full capacity.
After the March 11 earthquake and tsunami that devastated Japan and damaged a nuclear power plant, the company closed most of its factories in the country.
The quake had also damaged components plants, and from March 14 to 26, 2011, the company lost 140,000 units of production generally due from the shortage of plastics, rubber and electronic components.
On March 28, 2011, the company resumed operations at two factories for three models, prioritizing Prius and other hybrids. Nolasco said that Toyota has not made a production plan after the Golden Week holidays in Japan this May.
According to analyst Koji Endo at Advanced Research Japan in Tokyo, the company may lose at most 500,000 units of production due to the quake and tsunami at a minimum expense of 100 billion yen ($1.2 billion) for the financial year that ended March 31, 2011.
In 2010, Toyota, the largest automaker in the world, built 3.28 million vehicles in Japan. The shares of Toyota City as of 2:13 p.m. in Tokyo traded at 3,320 yen, rising as much as 0.8 percent.
On another note, Moody's Investors Service has disclosed that it will possibly cut the credit rating of Toyota after the natural disaster in Japan that interrupted the company’s ability to ship around 500 component types.