Due to the impact of the novel coronavirus... Japan's Toyota and Honda postpone resuming operations at China factories again

[Asia Economy Reporter Jeong Hyunjin] As the spread of the novel coronavirus infection (Wuhan pneumonia) lasts longer than expected, Japanese manufacturers are delaying the resumption of operations at their factories in China, and retailers are suffering damage.

According to Nihon Keizai Shimbun and others, Japanese automobile manufacturer Toyota Motor announced that it will postpone the resumption date of operations at four completed car factories in China, which were suspended due to the impact of the novel coronavirus, to after the 17th. Initially, they planned to resume the Chinese factories as early as the 10th, but due to uncertainties in parts supply, they decided to postpone the resumption date again.

Another Japanese automobile manufacturer, Honda Motor, is also expected to delay the start of operations at its automobile factory in Wuhan City. Honda initially planned to resume the factory as early as the 14th of this month, but considering the number of employees who can return to the factory and parts inventory, it is reported that full-scale operations may be postponed until late February.

Japanese retailers are also suffering damage due to the novel coronavirus. Uniqlo and Muji continue to increase the number of closed stores in China. As of the morning of the 7th, Uniqlo has about 370 stores closed. This is about twice the number compared to the 31st of last month, accounting for half of the total 750 stores in China. Muji also increased the number of closed stores from 59 on the 31st of last month to 138.

Cosmetics company Shiseido reported to Yomiuri Shimbun that sales to foreigners during this year's Spring Festival holiday decreased by 40% compared to last year. The food service company Watami announced that it will close seven izakaya chain stores located in Shanghai and Shenzhen.

Private research institute Daiwasoken estimated that if the ban on group travel by Chinese people continues for three months, the number of Chinese tourists visiting Japan will decrease by 1 million, and Japan's gross domestic product (GDP) will decrease by 250 billion yen (approximately 2.7 trillion won).

This content was produced with the assistance of AI translation services.