Toyota, the global automotive giant, has been forced to suspend operations at the majority of its assembly plants in Japan due to a system malfunction.
This disruption comes as a significant setback for the world’s largest carmaker, impacting its production capabilities.
As a result of the glitch, Toyota had to halt operations at 12 out of its 14 domestic plants. The malfunction rendered the company unable to order crucial components required for manufacturing vehicles.
\While Toyota’s Miyata plant in Fukuoka and its subsidiary Daihatsu’s facility in Kyoto are still operational, the uncertainty surrounding the resolution of the issue has prevented the carmaker from providing a definitive timeline for the resumption of full operations.
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It has been clarified that the system malfunction is not attributed to a cyberattack, according to a company spokesperson.
This distinction is noteworthy considering that Toyota faced a similar challenge in February of the previous year when a cyberattack on supplier Kojima Industries forced the temporary suspension of operations across all 14 domestic plants.
The news of the operational disruption had an immediate impact on Toyota’s stock performance, with shares experiencing a 0.64 percent decline during morning trading sessions.
Based in Toyota City, Aichi Prefecture, the automaker solidified its position as the world’s leading automaker in 2022, marking its third consecutive year at the top by selling more than 10.4 million vehicles globally.
Despite this setback, Toyota aims to achieve a production target of 10.6 million vehicles for the current year, 2023.