Toyota assures shareholders of disaster recovery
Source: AP-Excite
By YURI KAGEYAMA
TOYOTA, Japan (AP) - Toyota Motor Corp. (TM) President Akio Toyoda assured shareholders Friday that Japan's top automaker had recovered from last year's disasters even as power shortages continue to dog the country.
The earthquake and tsunami in northeastern Japan and the flooding in Thailand last year temporarily hobbled production for all the Japanese automakers, but they have since recovered.
"We were able to recover more quickly than we expected," Toyoda told a packed hall at the automaker's headquarters. "We want to work to revive Japan and bring more smiles to Japan."
Toyoda also fielded questions underlining nervousness about Japan's electricity supply, stemming from another disaster - the nuclear crisis caused by the meltdowns at Fukushima Dai-ichi nuclear power plant. All of Japan's reactors are now offline after being shut down for routine safety checks, with imports of oil and gas being used to fuel other generators.
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People arrive at the Toyota Motor Corp.'s regularl shareholders meeting at the headquarters of the Japanese automaker in Toyota, central Japan, Friday, July 15, 2012. The sign at left reads: The venue of the 108th regular shareholders meeting, Toyota Motor Crop. (AP Photo/Kyodo News) JAPAN OUT, MANDATORY CREDIT, NO LICENSING IN CHINA, HONG KONG, JAPAN, SOUTH KOREA AND FRANCE
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