Some firms in central Japan cutting back on capex - BOJ official [Reuters]
Toyota Motor Corporation (TM)
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Source: Reuters
Some firms in central Japan cutting back on capex - BOJ official TOKYO, April 9 (Reuters) - Some companies in the Tokai central Japan region, which is home to auto giant Toyota Motor Corp and its parts suppliers, are cutting back on capital expenditure and holding off on new hiring, a senior central bank official said on Thursday. “Given it will take time for coronavirus to be contained, household income and corporate profits will be hit. The region’s economy will likely suffer severe conditions for the time being,” Tokiko Shimizu, the BOJ’s Nagoya branch manager overseeing the Tokai region, told a news conference. (Reporting by Leika Kihara; Editing by Chris Gallagher)
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