Here's How Toyota Looks To Resume Production Post Cyberattack

  • Toyota Motor Corp TM looks to resume work at all its Japanese factories on March 2 after a one-day shutdown, limiting the fallout from a cyberattack on one of its key suppliers, Bloomberg reports.
  • The one-day domestic production stoppage likely affected ~13,000-vehicles' worth of production, representing about 5% of output for February. 
  • Toyota aims to resume operations at all 14 plants in its home country. 
  • Toyota had halted production at the plants due to impacts from a cyberattack against parts supplier Kojima Press Industry Co.
  • It will take a week or two for the company to sort out the Kojima Press hack while Toyota used a workaround to get operations back up and running.
  • According to Bloomberg Intelligence analyst Tatsuo Yoshida, Toyota should recover recent losses in April or May.
  • Price Action: TM shares closed lower by 1.31% at $182.95 on Monday.
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