5 Automakers Affected by the Japanese Earthquake and Tsunami

by: Insider Monkey

According to the National Police Agency of Japan, the 8.9 Richter scale earthquake and tsunami that hit the Pacific Coast of Tohoku killed more than 7,000 people and damaged more than 100,000 buildings. We prepared a list of five companies that are affected the most by these events.

Toyota Motor Corp (NYSE:TM): Toyota's 120,000 units per year capacity factory in Miyagi Prefecture was damaged. About 140,000 units of Toyota's production has been affected by the earthquake shutdowns. According to the statement published on its website, "Toyota Motor Corporation (TMC) has decided to continue the vehicle-production halt started on March 14 at all plants in Japan (including subsidiary vehicle manufacturers) through March 26. A decision on when vehicle production will resume in Japan has yet to be made." TM shares have lost 6.2% of their value since March 10.

Sony Corporation (NYSE:SNE): Sony shut down two plants in Fukushima and four in Miyagi. According to the statement published on its website: "Recovery plans to resume operations at most of the remaining manufacturing sites damaged by the earthquake and tsunami have already begun to be implemented. At the same time, manufacturing operations at certain manufacturing sites that sustained no direct damage are now being affected by planned power outages as well as shortages of raw materials and components, causing those sites to temporarily suspend a part of their operations." SNE has lost 6.2% since March 10.

Honda Motor Co., Ltd. (NYSE:HMC): Honda suspended operations at six plants immediately after the earthquake. Honda has since announced plans to extend the suspension of the production of finished units of automobiles at Saitama Factory and Suzuka Factory until April 3, 2011. HMC shares have lost 6.1% since March 10.

Nissan Motor Co. Ltd. (OTCPK:NSANY): Nissan suspended operations at six plants immediately after the earthquake. Small fires occurred at the Tochigi Plant and the Iwaki Plant casting facilities but have been extinguished. According to the latest news published by Nissan, the restorations will take longer only at the Iwaki engine plant. NSANY.PK shares have lost 10.1% since March 10.

Fuji Heavy Industries Ltd. (OTCPK:FUJHY): Fuji Heavy Industries is the manufacturer of Subaru automobiles. Fuji Heavy Industries announced that it has decided to extend the production suspension at five Subaru automobile plants in Japan until March 28. FUJHY.PK shares have lost 12.9% since March 10.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.