it hasnt reach full potential, for an EPS of 70 sen counter , shld be trading much higher. the dividend yield is high as the share price is still cheap perodua car sales is still at highest and the stake in perodua is an added bonus... it might be worth more than its current value.
TOKYO (Reuters) - Toyota Motor (NYSE:TM)'s shares fell more than 4% on Thursday after its small-car unit Daihatsu Motor said a day earlier it would halt shipments of all of its vehicles for an indefinite period due to the revelation of more safety-inspection irregularities.
In msia car is fine.. business as usual... While in japan, which nothing to do with msia -apparently they use a different airbag model to test its car.. according to article even that airbag pass the test... this shld be a non issue. .
WASHINGTON, Dec 20 (Reuters) - Toyota Motor (7203.T) said on Wednesday it will recall 1.12 million vehicles worldwide because a short circuit in a sensor could cause air bags not to deploy as designed.
OSAKA -- Japanese carmaker Daihatsu Motor will begin negotiations with suppliers to compensate them for lost revenues due to its suspension of shipments after an independent panel found irregularities in its operations, Nikkei learned on Thursday.
The Toyota Motor subsidiary is Japan's top manufacturer of popular lightweight minicars, known as kei cars. Daihatsu also plans to halt production at its domestic plants by Dec. 26, and it is unclear when it will resume operations as normal.
The company outlined its compensation plans to its parts suppliers and others in its supply chain with which it has direct business relationships in an online meeting on Wednesday. The plan includes going through with the purchasing of parts already produced for Daihatsu, and financial compensation for revenues lost due to the production halt.
There are 423 companies that directly do business with Daihatsu, which it considers Tier 1 suppliers. The compensation amounts are being negotiated, and Daihatsu will also consider supporting Tier 2 and Tier 3 suppliers that are heavily reliant on it for sales. A Daihatsu representative said the company was "willing to consult [with these companies] as much as possible."
Daihatsu has plants in Osaka, Kyoto, Shiga, and Oita Prefectures. The company stopped shipping from all these plants from Wednesday, but it is still accepting parts from suppliers. At some plants, workers are continuing to assemble vehicles that are in the process of production. All domestic plants will stop manufacturing soon, but Daihatsu has not decided when it will halt overseas production.
IKEDA, Osaka Prefecture--Transport ministry officials searched the Daihatsu Motor Co. headquarters here on Dec. 21 following an admission of widespread falsification of vehicle safety tests at the automaker.
The Toyota Motor Corp. subsidiary could face penalties and recall orders depending on the findings of the investigation.
The government inspection comes a day after the company admitted to 174 cases of misconduct with safety tests for most vehicles currently in production as well as some discontinued models.
“The ultimate responsibility lies with the management,” said Daihatsu President Soichiro Okudaira at a news conference on Dec. 20, although he declined to step down immediately.
A third-party investigative team suggested that intense pressure placed on the company’s engineers to produce favorable results led to the test rigging.
“We should have been aware of what was going on,” said Toyota Vice President Hiroki Nakajima, who was also in attendance.
The ministry ordered Daihatsu on Dec. 20 to halt shipments of all vehicles until they are confirmed safe.
This includes 16 domestic models and seven overseas models manufactured by Daihatsu for other brands such as Toyota, Mazda Motor Corp. and Subaru Corp.
Ministry officials are inspecting all 28 models Daihatsu manufactures for the Japanese market for compliance with safety standards.
Okudaira said the company’s own inspections found no significant safety concerns with affected vehicles, suggesting that customers can continue driving them.
However, he reported possible safety issues with the air bags of two models: the Toyota Pixis Joy and the Daihatsu Cast.
The two models’ doors will automatically lock after their air bags inflate, potentially hindering rescue efforts of the vehicles' occupants.
Okudaira emphasized that the issue is unrelated to recent reports of falsified safety tests.
The ministry will determine whether the two models should be recalled.
Daihatsu has a 30 percent share of the domestic market for “kei” minivehicles, including popular models such as the Pixis Joy and Cast. The automaker sold 1.7 million vehicles worldwide in fiscal 2022.
(This article was compiled from reports by staff writers Kenta Nakamura and Kohei Kondo.)
I don’t understand why this shipment of vehicles halt could impact perodua. Isn’t all perodua cars are locally assembled? The only safety issue I could think of is the airbags only. If daihatsu falsify their car safety for higher ncap rating, we have seen plenty of accident involving our myvi. If it was so unsafe, we definitely will know long time ago. Market is overreacting. I opine that mbmr will shoot back up soon. Continue buy the dip
Shld rebound back ....those who listen to fake news shld have sold yesterday , since it has nothing to do with perodua malaysia operations which is business as usual.... Fake news spreader are welcome to go to perodua showroom to view and order or buy perodua cars now - its business as usual..😀
Perodua has two manufacturing plants which are located in its 522-acre headquarters in Sungai Choh, Rawang. Located here are Perodua’s first facility – the Perodua Manufacturing Sdn Bhd (PMSB) plant and the second facility which officially opened in 2016 – the Perodua Global Manufacturing Sdn Bhd (PGMSB) plant. Both plants can produce up to 320,000 vehicles a year. Besides its vehicle manufacturing plants, Perodua also has two plants located in Sendayan TechValley near Seremban.
Meanwhile its business as usual. It doesnt stop the business, sales office, msia manufacturing plant and its more than 50k workers from "moving"...haha
Just buy at dip. Believe none of the prospective buyers take clue of the Daihatsu issue and switch to other brand. This type of issue and recall happened and resolved every year in car industry.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
klee
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Posted by klee > 2023-11-28 10:23 | Report Abuse
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