Investing in Japan: Toyota group announces financial results online

-

DENSO Corporation


Toyota group’s major eight companies will announce financial results in fiscal 2020 through internet broadcasting on April 30. 

 In advance of the internet broadcasting, Denso, one of the major eight and the world's second largest mobility supplier, announced on April 24 that it has lowered its full-year consolidated net income forecast for the fiscal year ending March 31, from ¥ 225 billion to ¥ 68 billion. 

 Profit decreased significantly by 70% from the previous year. In addition to the largest recall cost for automobile parts, suspending operations at overseas plants due to the new coronavirus outbreak hit the profit. 

 Sales forecast has been lowered from 5,260 billion yen to 5,150 billion yen, and operating income has been lowered from 280 billion yen to 61 billion yen. 
Toyota group announces financial results online

 In order to contain the infection, countries such as China, India, Italy, Mexico, and Argentina announced restrictions on social activities, and productions in those countries were halted. 

 In Japan as well, declining global demand for automobiles has led to a sequel of factory shutdowns by finished vehicle manufacturers. Those domestic effects are expected to surface in the next fiscal term.



Toyota to support COVID-19 containment


To cope with spreading infections, Toyota Motor Co., Ltd. announced on April 7 that group companies including Denso will begin production of medical protective masks. 
Toyota group announces financial results online

 DENSO will manufacture thousands of medical protective masks at its US subsidiary, Denso Manufacturing Tennessee, and provide them to local medical institutions. The company also plan to produce 100,000 masks per day, which is required at their own plants.


Comments

Post a Comment

Popular posts from this blog

Investing in Japan: Menicon, a leading Japanese contact lens manufacturer, aims overseas market expansion

-
Image
Menicon secured profit growth amid COVID-19 disruptions Menicon Co., Ltd. is a leading contact lens manufacturer in Japan founded in 1951, headquartered in Nagoya. It consistently develops, manufactures and sells contact lenses and related products in-house. To date, Menicon has developed various types of contact lenses such as hard lenses, soft lenses, disposables (disposable), lenses for astigmatism and bifocal lenses. It has the No. 1 market share for hard lenses and the No. 2 market for soft lenses in Japan.  As for the recent consolidated financial results, Menicon announced that net income for the fiscal year ended March 31, 2020 was 4 billion yen, up 14% from the previous year. While the sales and profits of most Japanese companies fell sharply due to the spread of new coronavirus infections, Menicon increased its sales by 4.5% from the previous year to 84.5 billion yen, a record high for the fifth consecutive year since listing of its stock. On the other hand, the earnings fo
Read more

Investing in Japan: Toyota shows its strength shrugging off pandemic damage and semiconductor shortage

-
Image
COVID-19 cases rise in Japan amid state of emergency, Tokyo Olympics and Paralympics to be downsized The Japanese government has decided to add three prefectures to its state of emergency as coronavirus cases continue to rise.   Prime Minister Yoshihide Suga said on May 14 that he decided to expand a COVID-19 state of emergency covering Tokyo and other areas to three more prefectures as infections continue to surge ahead of the Summer Olympics.  Starting on May 15, it will cover Hokkaido, Okayama and Hiroshima in an effort to curb infections and ease the strain on medical systems. The government will also designate three more prefectures as areas where intensive virus measures should be taken which is often called “Manbou”, acronym in Japanese for quasi-emergency to contain the virus.  Daily new cases have been on the rise nationwide in recent weeks reaching more than 6,000 for the fourth straight day as of May 14. The recent spike in new cases forces the organizers of the Tokyo Olym
Read more

Food and Drinks: Kaiten-sushi serves fresh and high quality of seafood

-
Image
Conveyor belt sushi , also known as Kaiten-sushi is a semi-self-service type, inexpensive sushi restaurant where small plates bringing various types of sushi on them are continuously circulated on chain conveyors installed along the seats.  Fresh and well-made sushi can be enjoyed for relatively cheap prices there. Plates typically come with one or two sushi pieces each and customers pick up plates they like. Customers can also place orders through a touch screen at each table when sushi they like is not available on conveyor belts.  Those Sushi are usually served on plates with several colors showing their prices ranging from 100 yen to around 500 yen. Some restaurants set the same price for all plates. The lowest price for a plate is usually 100 yen. That is why Kaiten-sushi is often called "100 yen sushi" and very popular among Japanese. Customers are given their bills from a staff who counts plates when they finish eating. Kaiten-sushi has grown thanks to technologie
Read more