MADRID, Dec 21 (EUROPA PRESS) –
Shares of Japanese manufacturer Toyota fell 4% on the Japanese stock exchange this morning, reaching 16.1 euros (the shares are quoted in the local currency, the Japanese yen, at a price of 2,537.5 yen per share) after the stock It announced on Wednesday that it suspended deliveries from its Daihatsu subsidiary following an independent investigation and the recall of one million cars in the United States due to airbag problems.
This market reaction follows the Japanese company’s announcement on Wednesday that an independent investigation found problems in 174 items across 25 test categories, affecting 64 models and three vehicle engines, including 22 models and one engine sold by Toyota. This caused Toyota to temporarily stop shipping these models both in Japan and abroad.
As Bloomberg also reported, the Transportation Ministry’s headquarters in Osaka raided Daihatsu’s offices on Thursday morning after it was revealed that the company had tampered with crash safety tests dating back to 1989.
In addition, Toyota announced the recall of nearly one million vehicles in the United States because a short circuit in a sensor could cause the airbag to not deploy properly in some of the company’s models and Lexus.
That day was also a general correction for the Tokyo Nikkei, which fell 1.59%, influenced by declines of more than 1% on Wall Street the previous day.
Overall, the automaker has accumulated a 40% appreciation so far this year
