After Toyota ended production of the Lexus LFA and closed a chapter of supercar history, National Geographic aired its documentary as part of its Megafactories series. “Up until now, no television cameras have ever been allowed inside this top secret facility,” says the film. The words were carefully chosen. You, the TTAC readers, had been there long before the film went on air.

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For those of you with a love of geography but without the resources to actually set foot in the country, let me tell you about Japan. It is a nation famously made up of thousands of islands but, in reality there are just 4 main islands where most of the people live – 5 if you count Okinawa. The largest island is called Honshu, it is the banana shaped one in the middle should you be looking for a map right now, and Honshu is home to most of the great cities of Japan. Tokyo, Kawasaki and Yokohoma blend seamlessly into one another to form one giant zone of dense urban sprawl across the “Kanto” region in the East, while Kyoto, Osaka and Kobe mirror that sprawl, albeit with less size but more attitude, in the West. This Western region is known as “Kansai.” I’ll take you to to Japan’s flyover land. The land, where one would fly over guardrails. (Read More…)

Waiting for Godot-san

In my report from Toyota’s quarterly results, there was one thing I forgot to mention decided to keep for later. As long as I have been going to these things, and it has been a while, the first question has always been given to a Nikkei reporter. Old Japanese custom, like AP (and recently Reuters) at the Whitehouse. As long as I have been going to these things, the Nikkei reporter always asked when Toyota wants to make a profit and pay taxes at home. That kabuki dance is disguised as “when can we expect positive results on an unconsolidated basis?” The folks in the room need no translation, they roll their eyes and pens, or check their Brakkubely. That’s a Blackberry for you. This time, it was different. (Read More…)

Some people like to bitch about the crafty Nips who are manipulating their currency again. Other people like to cash-in on sudden swings in currency valuations. If you are of the second kind, then Reuters recommends a look at formerly beaten-down stocks of Japanese carmakers who nearly went under during years of unfettered appreciation of the ¥en. (Read More…)

Here we go. Are you sitting down?

Presenting its Q3 financials in Tokyo today, Toyota delivered much higher profits and much higher sales while promising even higher profits at pretty much flat sales for the future. With a man on his left who looked like an accountant, and who had a big accountant’s briefcase on his knee, ready to pull whatever document his master needs, and a very quiet Shigeru Hayakawa on his right, Toyota Senior Managing Officer Takahiko Ijichi did forecast a net profit of 860 billion yen ($9.3 billion) for the fiscal year ending on March 31, 2013 up from the previously forecasted 780 billion yen. He also signaled a pause in Toyota’s rapid expansion: (Read More…)

As we all know, TTAC has an occasional thing for pink cars. So has Fiat. Right where I live.  Fiat delights Japan with the 500 Fiore Rosa (i.e. “Pink Flower”) limited edition of its Cinquecento. (Read More…)

Toyota, along with its Japanese peers, has wallowed in double digit minus territory in China, ever since cars were upturned and dealerships torched in September over a few uninhabited rocks in the East China Sea. In January, China sales of Toyota shot up 23.5 percent compared to the same month a year earlier. Are Japanese fortunes in China finally turning to the better?
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A new year started in Japanese auto sales, and the easy double digit up times while comparing with a disaster 2011 are over. It’s getting worse: This year, Japan’s new car sales compare to 2012 sales on government-speed:  Japanese could collect hefty subsidies in most of 2012, no such largesse this year.  In January, new car sales are not down 12.9 percent, as  the Dow Jones News Wire make you believe. They are down 7.8 percent, as correctly reported by Reuters. But down is down. Please come to the tables. (Read More…)

Honda made cautionary noises when announcing its quarterly numbers today, taking its annual profit forecast for the year down a notch to 370 billion yen ($4.1 billion). Three months ago, Honda already had cut its profit forecast for the fiscal year to March to 375 billion yen ($4.7 billion) from its earlier estimate of 470 billion yen ($5.9 billion). $1.8 billion evaporated on the forecast, mostly due to continuing sales troubles in China. (Read More…)

Usually, we are not big on COTY’s, but this one is too good to pass up. According to lore, which is sometimes parroted in the comments at TTAC, there is mutual hate between Koreans and Japanese. This did not stop Korean journalists from crowning a Japanese car as Korea’s Car of the year: The Toyota Camry.  This was so momentous that Toyota Korea president Hisao Nakabayashi broke into tears when the award was presented at a Seoul hotel. (Read More…)

Guangzhou Autos is reporting that 2012 profits are down as much as 80 percent, thanks to the dispute with Japan over a few islands in some godforsaken corner of the world.

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Takeshi Uchiyamada, not really meaning it

Toyota “appears set to choose Vice Chairman Takeshi Uchiyamada as its next chairman,” The Nikkei [sub] writes today. Uchiyamada used to be Toyota’s R&D Chief, and is celebrated as the “father of the Prius.”  He was made Vice Chairman last year. If confirmed, he would replace the 75 year old Fujio Cho.  A Chairman at Toyota has more of an oversight role. The executive power rests at President and CEO Akio Toyoda. (Read More…)

The inevitable march to American-made “imports” continues, as one Toyota official recently declared his desire to see every single Toyota sold in America to be a made-in-USA product.

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Johan de Nysschen, at home in Hong Kong

New Infiniti-boss and former Audi U.S. chief Johan de Nysschen wants to bring Infiniti home to Japan. He had said this to me last September in his office in Hong Kong, and he reiterated it again in Detroit when talking to the Wall Street Journal’s man in Japan, Chester Dawson. Back home in Yokohama, people are sucking air through their teeth. “Muzukashi desu ne.” This will be difficult. (Read More…)

Toyota sold 236,659 Prii (all kinds) in the U.S. alone in 2012, all of them imported from high-yen Japan. This is a major drag on the car’s profitability. Long import routes are a hindrance, offshore production also tends to impact the granularity of options and trims. U.S. production of the Prius was expected for last year, it did not happen. Yesterday, Shigeki Terashi, head of Toyota Motor North America Inc. came as close to announcing as possible that Toyota plans to produce the Prius in North America. He didn’t really say it, and you needed to be Japanese to hear it. (Read More…)