Japanese OEMs resume full production this summer; all ten OEMs have earnings growth in FY 2010
Despite strong Yen, end of governmental aid and March earthquake
Japanese OEMs' domestic production in March and April 2011 was stricken by the March 11 earthquake and plummeted to around 40% of the previous year. Their production will return to full throttle earlier than expected; and it could happen late this year. It is expected that, in summer, the Japanese auto giants of Toyota, Honda and Nissan will resume their production to the same level as projected before the great earthquake.
In the FY 2010 results unveiled in late April to early May after the earthquake, all Japanese OEMs did not present the earnings forecast for the next term, because it was difficult to estimate reasonable figures due to the earthquake. Their FY 2010 results all showed earnings growth despite the strong yen, the end of the aid by the Japanese Government and the Great East Japan Earthquake.