Toyota Motor Corporation and Nippon Steel Corporation agreed to significantly raise the purchase price of steel materials. As a result, the price of steel materials supplied by Toyota to affiliated parts manufacturers in the second half of fiscal 2022 (October 2022 to March 2023) will rise by about 40,000 yen per ton compared to the first half, resulting in price hikes for the third straight quarter.
The rate of increase is the largest since fiscal 2010, when the current system was introduced, and is expected to be around 20-30%. With negotiations between the major automakers and steel makers concluded with a significant price increase, it is expected that many industries that use steel products will see further raise prices in the future. Toyota's new car sales prices may also be affected.
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Original News Source: (c) JIJI.com
The Japan Daily by AKONIKK #japan #japanbusiness #akonikk
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