Stock Groups

Japan’s Murata sees partial restart of quake-hit factories -Breaking

[ad_1]

© Reuters. FILE PHOTO – A Murata Manufacturing Co. logo is pictured at CEATEC Japan 2017, (Combined Exhibition of Advanced Technologies), at the Makuhari Messe, Chiba. Japan, October 2, 2017. REUTERS/Toru Hansai

TOKYO, Reuters – Japan’s Murata Manufacturing Co. (OTC:) Ltd announced that it will resume production Friday at two factories which were shut down after Wednesday’s earthquake.

Japan is a world leader in precision component production, which has been highlighted by the disruption caused by magnitude 7.4 earthquake. This was despite global supply chains being under COVID-19 related strain.

Murata from Kyoto, top supplier of ceramic capacitors for smartphones and automobiles, stated that it plans to resume production at its two Fukushima facilities.

According to a spokesperson from the company, two more factories have not been activated. A fire broke out in a Tome factory, Miyagi prefecture that produces chip inductors, and caused equipment damage.

Renesas Electronics Corp, an automotive chipmaker, stated that two factories had been stopped and one partial stop was in effect.

Tech conglomerate Sony (NYSE:] Group Corp is working to gradually resume production in two factories in Miyagi Prefecture and another in Yamagata Prefecture that were damaged by the earthquake, according to a spokesperson.

Sony acknowledged that there was some damage at the Shiroishi facility, Miyagi Prefecture. However, the effect on laser diodes production is minimal.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]