Japanese governor pledges support for Toyota suppliers as production dips [Reuters]
Toyota Motor Corporation (TM)
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Source: Reuters
Japanese governor pledges support for Toyota suppliers as production dips NAGOYA, April 23 (Reuters) - As Toyota prepares to nearly halve production at Japanese factories, a regional governor said on Thursday he would offer 400 billion yen ($3.72 billion) in emergency loans for small and mid-size companies including Toyota’s suppliers. Toyota Motor Corp’s headquarters are in Aichi Prefecture, at Toyota City, which was named after the company in the 1950s to reflect its role as the biggest employer in the region. “(Toyota is) not only the backbone of Aichi prefecture’s economy but all of Japan,” Aichi governor Hideaki Ohmura told Reuters, adding that it kept valuable manufacturing jobs in Japan while other companies exported their factories abroad. Japan is a major production hub for Toyota and its domestic manufacturing network is heavily concentrated in Aichi, Japan’s industrial heartland where more than 40% of the cars built in Japan are made. Toyota and its affiliates operate more
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