Toyota Motor Corp. , the world’s largest automaker, extended production cuts at its North American and Chinese plants because of a shortage of parts after Japan’s record earthquake and tsunami last month.
Asian stocks advanced, driving the regional benchmark index to its highest level since last month’s earthquake, on speculation damage was limited from yesterday’s 7.1 magnitude aftershock in Japan and that engineering companies may benefit from efforts to rebuild the country.
Toyota Motor Corp. plans to resume production of the Prius and two other hybrid models in Japan as the nation’s automakers work to restart operations after an earthquake and tsunami idled plants for two weeks.
Tokyo Steel Manufacturing Co. and producers including Fuji Heavy Industries face a cut in summer power supply of about 15 percent after Japan’s strongest earthquake knocked out generators, curbing growth in the world’s third-largest economy.
Honda Motor Co. , grappling with the worst strikes to hit its 18-year-old Chinese manufacturing business, said it needs to improve communication with employees in the nation after the walkouts took the company by surprise.