Quake & Tsunami Economic Impact on Japan: Toyota Temporarily Shuts Down all Operations; Nissan, Honda and Mitsubishi Affected

There is no doubt that the quake and tsunami are going to have a major impact on the Japanese economy and the rest of the world.  For a moment, just think about all the consumer goods you have been using for the past week.  It is true that many of our merchandise comes from China these days, but we still import a lot of gadgets  and vehicles from Japan.

Due to issues with power, the infrastructures, and the fear of the nuclear radiation, everybody is anxious.  These issues have a direct impact on the country's production.

So far, Toyota has temporarily shut down its production in Japan.  Many other companies are reeling from the losses caused by the tsunami-triggered quake.  The company is assessing its needs and losses.

Toyota, the world's largest carmaker, has idled 12 plants thus far.   It is estimated that the company will lose $72 million for each day it is not operating its plants.  Nissan and Honda are also losing money too.

Nissan is the second carmaker.  Honda is the third. These companies have also reduced their production due to the fact that some of their plants are located in the tsunami-affected prefectures.