Kumamoto earthquake: Japanese business suffers post-earthquake as Nikkei 225 closes down and production at Toyota and Honda stops

 
Hayley Kirton
Follow Hayley
JAPAN-QUAKE
Japanese Prime Minister Shinzo Abe and other ministers pay their respects (Source: Getty)

Some of Japan's most recognisable business names have halted production after two powerful earthquakes devastated the country late last week.

The earthquakes have left at least 40 people dead, hundreds more people injured and thousands of households without access to power, according to local media.

Car maker Honda announced today that it would be pausing production at its Kumamoto Factory until 22 April and that its future production schedule would be dependent on restoration work and component supply. It also expressed its sympathy and condolences to the victims of the earthquake.

Meanwhile, fellow car manufacturer Toyota said yesterday that it would need to suspend production on some of its assembly lines until 23 April because of a shortage of parts. The company also stated that it hoped "for the soonest possible recovery of the affected areas".

Chip manufacturer Renesas Electronics today expressed its sympathy and condolences and announced that it had already set up an emergency taskforce at its headquarters and was currently assessing the damage caused to the equipment at its Kawashiri Factory.

Meanwhile, the Nikkei 225 closed down 572.08 points, or 3.4 per cent, at 16,275.95, although this was also likely pulled down by the failure of oil producers to reach an agreement in Doha yesterday.

Over the weekend, Prime Minister David Cameron issued a statement about the earthquake, remarking that he was "deeply saddened" and adding:

The full extent of the damage will only become clear over the next few days. The UK is following the situation closely and stands ready to support the Japanese response in any way we can.

Related articles