Toyota has closed five factories in Japan as a result of the global outbreak.

     Toyota motor corp. has suspended production at seven production lines at five factories in Japan for up to April 15, foreign media reported.

   The dai-ichi plant in toyoda city, aichi prefecture, and the tahara plant in tahara city, aichi prefecture, have stopped production completely during the shutdown.Some production lines were shut down for the Toyota city takaoka plant, the commissioned Toyota kyushu company's miyata plant, hino motor's yuemura plant.

    Overseas demand for Toyota's cars has plummeted as a result of the outbreak.The factories targeted for the shutdown are all engaged in export business, and the production reduction during the shutdown was about 36,000 units.

    Among the five factories, the factory in yucun has the shortest shutdown time, ending on April 6;The longest, miyata, is scheduled to close until April 15.Toyota is advising employees to take paid leave during the shutdown, while those who are still present engage in business improvement work aimed at increasing productivity.

    On April 7, Mr. Abe issued a "state of emergency" declaration that would impose emergency controls on large areas of the country, including Tokyo, to limit agglomeration activities, including production.

    Japan, one of the world's top three car producers, produced about 1.87 million vehicles globally in February, down about 15% from the same period in 2019, with further declines expected in March.

    Eight Japanese carmakers, including Toyota, nissan, Honda, Mazda, suzuki, subaru, mitsubishi and daihatsu, have all announced they will suspend domestic production because of falling supplies of parts from overseas and falling consumer demand worldwide.

    Earlier, Toyota has issued a statement to suspend production in many plants around the world, the new temporary suspension of plants including France, the United Kingdom, the Czech republic, Malaysia, Russia, Argentina and so on.So far, all Toyota plants in Europe have temporarily suspended production.

    Among them, all two shifts at Toyota's Russian plant were suspended from March 30 to April 3.Other European plants are scheduled to resume production after April 20.Earlier, Toyota extended shutdowns at factories in Brazil and Malaysia.

    Compared with the increasingly severe situation abroad, the outbreak in China has been remarkably controlled.Since late February, a number of car companies have resumed production.Toyota's factories in China resumed production on Feb. 17.

    At the same time, in order to stimulate automobile and other consumption, relevant departments in China have issued policy Suggestions to stabilize and expand automobile consumption, and many regions have issued policy measures to promote consumption.Especially for the new energy vehicle market, in the purchase subsidies, purchase tax and other aspects, many places will give more policy preference.

    Affected by COVID 19, Toyota has applied for a 1 trillion yen (65.8 billion yuan) credit line from sumitomo mitsui bank and bank of mitsubishi ufj.

    Moody's, an international rating agency, has downgraded Toyota's credit rating from Aa3 (advanced) to A1 (middle superior) due to the outbreak shutdown and falling sales.

    According to the financial results released by Toyota in February 2020, the net income in the period of 2019.4-2019.12 was 22.83 trillion yen, up 1.6 percent year on year, and the operating income was about 2.059 trillion yen, up 6.2 percent year on year.Net profit rose by 0.59 trillion yen to 2.01 trillion yen.

    Although Toyota's profitability remains strong, it needs to borrow money to meet its financial needs in an environment of falling global demand for cars.