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Multiple Japanese Enterprises Temporarily Close Their China Factories

|Includes:PCRFY, Toyota Motor Corp. (TOYOF)

Source: Beijing Morning Post, ChinaScope Financial (Data)

+ Due to escalating protests against Japan's purchase of the disputed islands, Canon announced yesterday that it will put three plants in China out of commission on September 17 and 18 out of consideration for its staff safety. Another Japanese consumer electronics company, Panasonic, has also decided to stop production starting September 18. The company has not specified a date on which production will be resumed.

+ In addition, Faw-Toyota and Zhengzhou Nissan have also temporarily closed their plants in China today.

+ Sales of Japanese brand TVs decreased sharply as well. Since early-August, the sales of TVs made by Sanyo, Toshiba, Panasonic, and Sharp declined by 44.32 percent, 40.31 percent, 23.41 percent, and 21.06 percent, respectively.

Japan's investment in China has been increasing since 2009, this trend however might be threatened by the recent spat over the Diaoyu Islands.

Stocks: TOYOF, PCRFY