Search

Global car shares dropped as US President Donald Trump's new tariffs threatened sales from factories in Mexico and Canada. Auto shares in Asia and Europe slumped, with companies like Toyota, Nissan, Volkswagen, and Stellantis experiencing significant declines. The tariffs are disrupting supply chains for carmakers with manufacturing hubs in Mexico, impacting companies like VW, BMW, and Daimler. Electric vehicle makers like Tesla and luxury car brands like BMW and Mercedes-Benz also saw stock decreases. Renault SA is among the least exposed European car stocks to the tariffs. [Extracted from the article]

The article discusses how Japan's major banks, such as Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc., are expected to benefit from the Bank of Japan's interest rate hikes and a strong domestic stock market. The banks anticipate increased profitability and higher shareholder returns as a result of the rate hikes. Additionally, Sumitomo Mitsui Financial Group Inc. is projected to achieve record annual earnings, with expectations of a boost in net interest income due to the rate hikes. The article also touches on the performance of other companies in various sectors, such as Toyota Motor Corp. and Nippon Steel, providing insights into their financial outlooks. [Extracted from the article]

Toyota Motor Corp. maintained its position as the world's top carmaker for the fifth consecutive year by selling 10.8 million cars in 2024, despite a slight decrease in sales. Volkswagen AG, its closest competitor, sold just over 9 million cars last year. Toyota faced challenges due to safety scandals at subsidiaries but remains committed to its goal of selling 1.5 million EVs annually by 2026 and halving emissions by 2035. Emerging rivals like China's BYD Co. are rapidly gaining traction in the global auto market, selling 4.3 million cars in 2024, including 1.8 million EVs. [Extracted from the article]

Japan's largest banks, including Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc., are poised to benefit from the Bank of Japan's interest rate hikes and a strong domestic stock market. The rate hikes are expected to increase banks' profitability and lead to higher shareholder returns. Additionally, Sumitomo Mitsui Financial Group Inc. anticipates record annual earnings, with net interest income projected to rise by ¥90 billion ($584 million) this fiscal year. The article also highlights the performance of other companies in various sectors, such as Toyota Motor Corp. and Nippon Steel, providing insights into their financial outlooks. [Extracted from the article]

BYD Co. has become the most popular car brand in Singapore, surpassing Toyota Motor Corp. in sales. The Chinese electric vehicle company saw a significant increase in sales, outselling not only Toyota but also Tesla, Mercedes-Benz, and BMW. This shift reflects the growing influence of Chinese carmakers in Southeast Asia, with BYD benefiting from Singapore's incentives for electric vehicles and the government's net zero ambitions. [Extracted from the article]

Fuji TV, a major Japanese broadcaster, has faced a loss of advertisers due to allegations of inappropriate behavior by a celebrity host and concerns about the company's response to the situation. Companies like Toyota Motor Corp, Dai-ichi Life Insurance, and NTT East have decided to suspend ads on the channel, leading to a decline in Fuji TV's stock price. The media company has announced the formation of a committee to investigate the allegations, while denying employee involvement in the incident. [Extracted from the article]

Toyota Motor Corp. is requiring its salaried workers in North America to return to the office four days a week, starting in September. The policy applies to employees at all levels, except for specific excluded roles, with the option to work from home on Fridays. This move follows a trend among large US employers, such as AT&T and Amazon, to bring employees back to the office for increased collaboration and mentoring opportunities. Despite the shift, many offices in major US cities remain only half full compared to pre-pandemic levels, indicating a gradual return to in-person work environments. [Extracted from the article]

Toyota Motor Corp. is mandating that its North American salaried workers return to the office four days a week starting in September, with Fridays being optional for remote work. The company stated that this move is aimed at enhancing collaboration, mentoring, and team effectiveness. This decision aligns with a broader trend of large US employers, such as AT&T Inc. and Amazon.com Inc., requiring more in-person work following the Covid-19 pandemic. JPMorgan Chase & Co. is also reportedly planning to have employees return to the office five days a week. [Extracted from the article]

Toyota Motor Corp. shares saw a significant increase over two days in Tokyo after reports suggested the company may double its return-on-equity (ROE) target to 20%. Analysts believe that Toyota will need to enhance earnings from its value chain to boost profit margins and potentially sell equity holdings to further benefit shareholders. Despite a strong performance this year, global sales for Toyota plateaued in November due to weak demand and production pauses at two plants. Analysts and investors are closely monitoring Toyota's plans to achieve its ambitious ROE target and increase shareholder returns. [Extracted from the article]

Toyota Motor Corp. shares have seen a significant increase over two days, with a 5.4% gain in morning trading in Tokyo. This surge follows a report suggesting that the company plans to double its return-on-equity (ROE) target to 20%. Analysts predict that Toyota may need to enhance earnings from its value chain to boost profit margins and improve capital efficiency. Despite global sales plateauing in November, Toyota's shares have risen over 20% this year, outperforming the broader Topix index. [Extracted from the article]

Toyota Motor Corp.'s global sales remained stagnant in November, with vehicle sales totaling 984,348 units, down 0.2% from the previous year. Production also decreased by 9.4% to 966,921 units due to factory glitches. The company faces challenges from intense competition in hybrid cars in the US, electric vehicles in China, and regulatory issues leading to output cuts. Toyota's dominance in markets like Southeast Asia is being challenged by Chinese competitors, while new rivals like Honda and Nissan could pose a threat in the future. [Extracted from the article]

The article discusses the potential merger talks between Honda and Nissan, driven by challenges in the Chinese market. Both automakers are facing decreased market share and excess capacity in China due to the rise of electric and hybrid vehicles from other manufacturers. Nissan has already begun a cost-cutting plan to reduce global capacity, with China accounting for a significant portion of the reduction. The article also mentions the impact of management shakeups and outdated product lineups on Nissan's market value, making it a potential takeover target. Additionally, Japanese automakers, including Honda and Nissan, are exploring a manufacturing partnership to optimize production and address market demands. [Extracted from the article]

The article discusses the growing interest in hybrid vehicles as of October 2023. Topics covered include the hybrids' role of orienting the mass market into electric vehicles (EV), their suitability for towing big trailers compared to fully EVs, and the successful manufacture of hybrid models by Ford, Toyota, and Honda. Also noted is the continuing challenge of a lack of EV charging infrastructure in the U.S.

Toyota Motor Co.'s sales and production remained steady last month, with global sales increasing by 0.4% compared to the previous year, reaching a record high for October. However, domestic sales in Japan have fallen significantly, while production has also decreased due to regulatory issues and recalls. Competing in China has been challenging for Japanese automakers like Toyota, as local brands dominate the market with electric vehicles. Other major automakers like Honda and Nissan have also experienced declines in production and sales, with Nissan announcing significant job cuts and capacity reductions due to weak performance in the US and China. [Extracted from the article]

Toyota Motor Co.'s sales and production remained steady last month, with a slight increase in global sales but a decrease in production. The company has been facing challenges in Japan and China, with a significant decline in domestic sales and production. Despite these difficulties, Toyota has maintained its profit outlook for the year. The global carmaker's performance has been impacted by weak demand for new cars and increased competition from local brands in China. [Extracted from the article]

Nissan Motor Co. has a history of setting overly ambitious goals and failing to meet them, leading to a lack of trust from investors and suppliers. The company's struggles have continued even after the departure of former CEO Carlos Ghosn, with its market capitalization shrinking and its product lineup aging. Nissan's inaccurate sales forecasts have forced it to implement cost-cutting measures, including job terminations and capacity reductions, impacting its suppliers and business partners. Despite efforts to address these issues, the company's credibility remains a concern among stakeholders. [Extracted from the article]

Pony AI Inc., a Chinese autonomous driving startup, is preparing for a US IPO amid increasing competition in the self-driving sector between the US and China. The company, valued at up to $4.5 billion, operates robotaxis in Chinese cities and faces regulatory challenges in the US. With a focus on research and development in California, Pony.ai aims to expand globally with support from international backers like Toyota and Saudi Arabia's Neom Co. The US-China IPO pipeline is showing signs of thawing, with Chinese companies raising funds on US exchanges despite regulatory uncertainties. [Extracted from the article]

Pony.ai Inc. is seeking to raise up to $195 million through its US initial public offering, with a price range of $11 to $13 per share. The company, founded in Silicon Valley in 2016, develops and operates self-driving fleets in the US and China, including trucks and robotaxis. Backed by investors like Toyota Motor Corp. and Saudi Arabia's Neom Co., Pony.ai has permits to offer fully driverless taxi services in Beijing, Shenzhen, and Guangzhou. The IPO is being led by Goldman Sachs Group Inc., Bank of America Corp., Deutsche Bank AG, Huatai Securities, and Tiger Brokers, with plans for the company's shares to trade on the Nasdaq Global Select Market under the symbol PONY. [Extracted from the article]

Pony.ai Inc. is planning to raise up to $195 million through a US initial public offering, with a price range of $11 to $13 per share. The company, founded in Silicon Valley in 2016, develops self-driving fleets in the US and China, including trucks and robotaxis. Major investors in the offering include Beijing Automotive Group Co. and Guangzhou Automobile Group. Pony.ai's IPO is part of a trend of Chinese automotive-related companies listing in the US, with $40 billion raised via IPOs on US exchanges this year. [Extracted from the article]

McDonald's Corp. recently issued 550 million Swiss francs ($624 million) in bonds due in four and eight years, marking its first Swiss franc-denominated bond since 2016. This move follows disappointing third-quarter results and an E. coli outbreak. The Swiss franc corporate bond market has seen increased activity from global corporates diversifying their funding sources, with McDonald's joining other multinational companies like Toyota, Thermo Fisher Scientific, BP, and BMW in tapping into this market. [Extracted from the article]

Toyota's North American chief operating officer criticized US policies promoting electric vehicle (EV) sales, calling them "de facto mandates" that do not align with consumer demand. The government's support for EVs has been a contentious issue, with stringent emission limits set by the EPA and California aiming to accelerate the adoption of EVs. Toyota plans to introduce American-made EVs in 2026 as part of its gradual transition to EVs, while expressing concerns about the affordability of EVs compared to gas-powered vehicles. [Extracted from the article]

Toyota Motor Corp. maintained its annual profit outlook despite lower quarterly results in Japan and China, showing signs of recovery from past scandals and recalls. The company reported an operating profit of ¥1.16 trillion for the June-September period, below analysts' estimates. Toyota's sales in Japan were impacted by domestic recalls, while production in China suffered due to intense competition. The carmaker aims to reexamine its production process and increase focus on hybrid gas-electric cars in response to changing market dynamics. [Extracted from the article]

Toyota Motor Corp. maintained its annual profit outlook despite lower quarterly results in Japan and China, following domestic scandals and recalls in the US. Operating profit for the June-September period was ¥1.16 trillion, below analysts' estimates, but the company kept its full-year profit guidance of ¥4.3 trillion. Toyota's sales in Japan were impacted by Prius recalls, while production in China suffered due to intense competition with local players like BYD Co. The company plans to reevaluate its production process in light of verification issues, and is aiming to sell 1.5 million battery EVs annually by 2026. [Extracted from the article]

Toyota Motor Corp. maintained its annual profit outlook despite a weak quarter in Japan and China, with operating profit falling to ¥1.16 trillion for the quarter ending Sept. 30. The company's full-year profit guidance remains at ¥4.3 trillion, although global sales have been impacted by low demand for new cars and production cuts due to regulatory issues and recalls. Toyota faces challenges in China from local competitors like BYD Co., while the market is shifting towards software-heavy, battery-electric vehicles. The European Union and US raising tariffs on EVs from China could alter the competitive landscape, prompting Chinese firms to focus on emerging markets traditionally dominated by Japanese brands. [Extracted from the article]

Japanese stock futures are on the rise as investors await the outcome of the US presidential election, which could have global economic implications. The Nikkei 225 futures are up on the Chicago Mercantile Exchange, and the yen has strengthened against the dollar. Japan's stock market, with its size and exposure to overseas investors, will be closely watched as votes are tallied. Tech companies and automakers like Toyota and Honda are expected to be influenced by the election results. [Extracted from the article]

Denso Corp., a major supplier to Toyota and other Japanese carmakers, announced plans to buy back up to ¥450 billion worth of its own shares. This move is part of the Toyota Motor Corp. group's efforts to unwind its complex network of cross-held shares. The government has been pressuring companies to untangle these shareholdings to improve corporate governance and foster competition. Toyota Motor Corp. raised its share buyback to ¥1.2 trillion in September to address this issue among its business partners. [Extracted from the article]

Toyota Motor Corp. and Nippon Telegraph & Telephone Corp. are investing $3.3 billion to develop autonomous-driving software with artificial intelligence by 2030. The goal is to implement the technology by 2028 and share it with other companies to improve road safety by predicting and responding to traffic accidents. This partnership aims to catch up with the industry's shift towards software-defined vehicles, led by companies like Tesla Inc. and BYD Co. Toyota and NTT have been collaborating on various projects since 2017, including 5G-connected cars and a smart city initiative. [Extracted from the article]

Toyota Motor Corp. is facing challenges in Japan and China due to increased competition from electric-vehicle brands, domestic scandals, and recalls. Despite this, there is strong demand for hybrid vehicles in North America. Global production and sales have decreased, with Japan experiencing a 17% sales decline and China an 18% output decrease. Toyota's exports have fallen in China and the US, but have risen globally by 10.1% overall. The company faces uncertainties with EU and US tariffs on Chinese EVs and new European emission regulations. [Extracted from the article]

Japanese automakers Toyota and Nissan are facing weaker demand and increased competition from Chinese rivals in emerging markets like Southeast Asia. Profit growth for these automakers may stall in the coming years due to weak sales in Southeast Asia and China, as well as potential policy changes in the US. Other companies in the region, such as DBS Group Holdings and National Australia Bank, are also discussing monetary policy outlooks and financial performance. The article provides insights into the financial performance and future prospects of various companies in the automotive and financial sectors in the Asia-Pacific region. [Extracted from the article]

Denso Corp. announced a $2.9 billion share buyback plan to reduce cross holdings with other companies in the Toyota Motor Corp. group. Following this announcement, Toyota Industries Corp. decided to sell all its shares in Denso to enhance corporate governance. Denso also plans to cancel 7.64% of its shares and adjusted its full-year guidance, citing currency fluctuations and declining sales in Japan and Asia as factors affecting profit. Toyota Motor Corp. raised its share buyback to $1.2 trillion to address cross-held shares among its business partners, including Denso and Toyota Industries, amidst challenges in the automotive industry such as stagnant demand for new cars and the rise of electric vehicles. [Extracted from the article]

Toyota Motor Corp. is facing challenges in Japan and China due to increased competition from electric-vehicle brands, domestic scandals, and recalls. Despite this, there is strong demand for hybrid vehicles in North America. Global production and sales have decreased, with Japan experiencing a 17% sales decline and China facing intense competition from local brands. Toyota's exports have fallen in China and the US, but have risen globally by 10.1% throughout the year. Other major carmakers like Honda and Nissan are also experiencing declines in sales and production. [Extracted from the article]

Toyota Motor Corp. is facing challenges in Japan and China due to increased competition from electric-vehicle brands, domestic scandals, and recalls. Despite this, there is strong demand for hybrid vehicles in North America. Global production and sales have decreased, with Japan experiencing a 17% sales decline and China an 18% output decrease. Toyota's exports have fallen in China and the US, but have risen globally by 10.1% overall. The company faces uncertainties with EU and US tariffs on Chinese EVs and new European emission regulations. [Extracted from the article]

The chairmen of Toyota and Hyundai recently collaborated to host a rare race event showcasing their high-performance vehicles, emphasizing the trend of competitors coming together amidst the shift towards electrification. The event, attended by other industry leaders, featured rally cars and future-oriented models, including hydrogen-powered vehicles. This joint effort between the world's top automakers hints at potential future collaborations in response to increasing competition in the electric vehicle market. [Extracted from the article]

Pony.ai, an autonomous driving startup, is reportedly planning to file for an initial public offering (IPO) in the US, aiming to raise up to $300 million. The company, founded in Silicon Valley in 2016, operates self-driving fleets in the US and China, including trucks and robotaxis. Guangzhou Automobile Group, a major Chinese automaker, is considering investing in the IPO. The IPO's timeline and size are subject to change, and Pony.ai had previously considered a US share sale in 2021 but postponed the plan. [Extracted from the article]

Toyota Motor Corp.'s research unit and Hyundai Motor Co.'s Boston Dynamics are collaborating to develop humanoid robots with artificial intelligence. The partnership combines Toyota Research Institute's expertise in machine learning with Boston Dynamics' humanoid Atlas robot to explore AI-trained robots' potential in human-robot interaction. The goal is to eventually deploy robots in factories and homes for elder care, leveraging generative AI to enable robots to learn new skills quickly. This collaboration aims to differentiate itself from other smart bot programs and startups, with a focus on fundamental research for future commercial use. [Extracted from the article]

Toyota Motor Corp.'s research unit and Hyundai Motor Co.'s Boston Dynamics are collaborating to develop humanoid robots with artificial intelligence. The partnership combines Toyota Research Institute's expertise in machine learning with Boston Dynamics' humanoid Atlas robot to explore AI-trained robots for human-robot interaction. The goal is to eventually deploy robots in factories and homes for elder care, leveraging generative AI to enable robots to learn multiple tasks simultaneously. This collaboration represents a significant advancement in the field of robotics and automation within the automotive industry. [Extracted from the article]

Toyota Motor Corp. has announced a delay in the production start of its first US-made electric vehicle until 2026. However, the company plans to introduce up to seven all-electric vehicles in the US within the next two years. Toyota remains committed to manufacturing an unnamed SUV in Kentucky from early 2026 and another all-electric SUV in Indiana later that year. This expansion of Toyota's EV lineup in the US aligns with its goal to sell 1.5 million EVs globally by 2026. The company currently sells two fully electric models in the US, both of which are manufactured in Japan. [Extracted from the article]

Toyota Motor Corp. is increasing its investment in air taxi manufacturer Joby Aviation Inc. by $500 million, bringing its total investment in the company to $894 million. The additional funds will support Joby's plans for commercial production. Joby is one of several companies developing electric vertical take-off and landing (eVTOL) air taxis for short commuter journeys. The company aims to start commercial services in Dubai next year, pending certification by the US Federal Aviation Administration and other regulators. Toyota has been financing Joby since 2020 and their engineers are working closely together on aircraft production. [Extracted from the article]

Toyota Motor Corp. is increasing its investment in air taxi manufacturer Joby Aviation Inc. by $500 million, bringing its total investment in the startup to $894 million. The additional funds will support Joby's plans for commercial production. Joby is one of several companies developing electric vertical take-off and landing (eVTOL) aircraft for short commuter journeys. The company aims to begin commercial services in Dubai in late 2025. [Extracted from the article]

Toyota Motor Corp. has announced that it will refocus its diversity, equity, and inclusion (DEI) programs and end its sponsorship of LGBTQ events due to the "highly politicized discussion" surrounding corporate commitments to DEI. The decision comes after anti-DEI activist Robby Starbuck launched a social media campaign against the company, calling for customer boycotts. Toyota's move aligns with other companies, such as Harley-Davidson, Lowe's, and Ford, that have scaled back their DEI efforts. The Human Rights Campaign (HRC) has cautioned against such actions, stating that they will have a negative impact on business success and urging supporters to boycott companies that have withdrawn from the HRC rankings. [Extracted from the article]

Toyota Motor Corp. is increasing its investment in air taxi manufacturer Joby Aviation Inc. by $500 million, bringing its total investment in the startup to $894 million. The additional funds will support Joby's plans for commercial production. Joby is one of several companies developing electric vertical take-off and landing (eVTOL) aircraft for short commuter journeys. The company aims to begin commercial services in Dubai in late 2025. [Extracted from the article]

Opposition to Toyota's Chairman Akio Toyoda has emerged among some of the company's major investors due to concerns about his leadership and the carmaker's future following a series of vehicle safety scandals. Nissay Asset Management Corp. voted against all 10 board members, including Toyoda, citing actions that were "strongly in opposition to the needs of society." The criticisms and fears expressed by these shareholders could impact Toyoda's chances of reappointment next year. Shareholders who voted against Toyoda and other executives cited issues of governance and the negative impact of the scandals on society. However, some shareholders voted in favor of the board after discussions with Toyota's leadership about their response to the scandals and plans for reform. [Extracted from the article]

Opposition to Toyota's Chairman Akio Toyoda has emerged among some of the company's major investors due to concerns about his leadership and the carmaker's future following a series of vehicle safety scandals. Nissay Asset Management Corp. voted against all 10 board members, including Toyoda, citing actions that were "strongly in opposition to the needs of society." The criticisms and fears expressed by these shareholders are raising doubts about Toyoda's chances of reappointment next year. Institutional investors in Japan are encouraged to disclose their voting records to the public, and Toyoda himself has acknowledged that his seat on the board is at risk if shareholder support continues to decline. [Extracted from the article]

Toyota Motor Corp. experienced a decline in sales due to a decrease in demand in Japan and China, as well as disruptions in production caused by domestic scandals and recalls. Global output, including subsidiaries Daihatsu Motor Co. and Hino Motors Ltd., dropped by 12.6% in August compared to the previous year. Sales in Japan fell over 9% as a result of regulatory scandals involving falsified vehicle safety certifications. While Toyota's hybrid gas-electric cars saw increased popularity, a global slump in new car sales and intense competition in China have impacted the company. The demand for electric vehicles has plateaued, leading Toyota to scale back its electrification goals. In August, Toyota sold 12,682 battery EVs and 336,848 hybrids. The company's operating profit for the quarter ending in June was 17% higher than the previous year. Honda Motor Co. and Nissan Motor Co. also experienced declines in production and sales. [Extracted from the article]

Toyota Motor Corp. experienced a decline in sales due to a decrease in demand in Japan and China, as well as production disruptions caused by domestic scandals and recalls. Global output, including subsidiaries Daihatsu Motor Co. and Hino Motors Ltd., dropped by 12.6% in August compared to the previous year. Sales in Japan fell over 9% as a result of regulatory scandals involving falsified vehicle safety certifications. While Toyota's hybrid gas-electric cars saw increased popularity, a global slump in new car sales and competition in China have impacted the company. Toyota has also scaled back its electrification goals due to a downturn in electric vehicle demand. [Extracted from the article]

Toyota Motor Corp. has distanced itself from certain LGBTQ initiatives and denied having a quota system to promote diversity among its suppliers. The company responded to criticism from anti-diversity, equity, and inclusion (DEI) activist Robby Starbuck, clarifying that the LGBTQ programs in question were led by employee groups, not directly by the company. While Toyota's president and CEO of North America, Tetsuo Ogawa, has emphasized the importance of supplier diversity, the company stated that it does not set specific quotas for underrepresented groups. Starbuck has targeted several companies recently, urging customers to boycott brands with "woke" policies, leading to debates and counter-boycotts among supporters and opponents of DEI initiatives. [Extracted from the article]

(Bloomberg) -- Japanese automaker Suzuki plans to increase the number of car dealerships it has in India by 70% to around 6,800 by fiscal 2030, Nikkei reported Wednesday. Suzuki operates in India via subsidiary Maruti Suzuki India Separately, Toyota plans to build a new factory in India, Nikkei reported NOTE: Suzuki Sees India's Automobile Market Growing Fivefold by 2047 Toyota forged a strategic partnership with Suzuki in 2019 taking a stake of about 5% Representatives for Toyota didn't immediately respond to a request for comment from Bloomberg©2024 Bloomberg L.P.By Nicholas TakahashiReported by Author [Extracted from the article]

Toyota Motor Corp. has increased the size of its share buyback to ¥1.2 trillion ($8.3 billion) due to strong demand in its main markets of Japan, Europe, and North America. The company added ¥200 billion to its stock repurchase plan, which was announced in May. This move is in line with the Japanese government's efforts to unwind cross-held shareholdings. Toyota's stock has remained relatively flat this year, but the company's financial results have been robust, with a 17% increase in operating profit compared to the previous year. [Extracted from the article]

Toyota Motor Corp. has increased the size of its share buyback to 1.2 trillion yen ($8.3 billion) due to strong demand in Japan and Europe. The company plans to buy back as much as 3.93% of its shares, based on recent share price levels. This decision aligns with the Japanese government's efforts to encourage large companies to unwind cross-held shareholdings. Toyota's operating profit for the three months ended June 30 was 1.31 trillion yen, a 17% increase from the previous year, and its hybrid models are performing well in North America. [Extracted from the article]

Japanese companies and banks are cautioning their employees in China to be vigilant and practice caution following the fatal stabbing of a young Japanese boy in Shenzhen. Toyota Motor Corp. and Mitsubishi Heavy Industries Ltd. are among the companies spreading awareness of the incident and advising their workers to be on alert. Other companies, including Sony Group Corp., Toshiba Corp., Kao Corp., and Murata Manufacturing Co., are also taking steps to ensure the safety of their employees. The incident could strain the already tense relations between Japan and China, with thousands of Japanese companies and nationals residing in China. [Extracted from the article]