Reuters is saying that Toyota suspended production at all of its plants in Japan on Tuesday after a supplier was the victim of a cyberattack. The cyberattack hit Kojima Industries, which supplies plastic parts to Toyota. This shutdown will affect production of around 13,000 vehicles, which is about 5% of Toyota's monthly output in Japan.

Cyberattack Comes After Japan Joins Western Nations In Punishing Russia

The cyberattack on Kojima Industries happened right after the government of Japan joined other nations in implementing economic restrictions on Russia because of their invasion of Ukraine. Those restrictions include prohibiting Russian banks from utilizing the SWIFT international payment system. Japan has also donated $100 million in emergency aid to Ukraine.

It is not yet known if Russia had any involvement in the cyberattack. Japan's prime minister says they will investigate the incident and determine who launched the attack and what their motivation was for it.

Toyota itself was not directly hit by this cyberattack, and a spokesman for the company described it as a "supplier system failure." This would not be the first time that another nation launched a cyberattack on a Japanese corporation. North Korea conducted a cyberattack on Sony Corporation in 2014, which exposed internal data and shut down computer systems. This attack was in retaliation for Sony releasing a comedy about a plot to assassinate North Korean leader Kim Jong-un.

Related: Ford Halts F-Series Production Thanks To Parts Shortage

Toyota Production Halt Will Cause Inventory Shortages To Linger

3 new toyotas

This production halt is the latest in a long line of supply chain disruptions that Toyota has felt since the start of the Covid pandemic. Many of Toyota's suppliers in Southeast Asia had to suspend production in 2021 because of Covid related staffing issues.

Last month, Toyota stopped some production in North America because the Canadian trucker protests made it difficult to transfer parts between the United States and Canada. That halt affected production of the Camry and RAV4, which are Toyota's best-selling models in the United States.

Related: Tesla Halts Model S And X Production For More Than Two Weeks

All these production halts resulted in a loss of thousands of units of production. Toyota does not know if or when they will be able to make up the production lost from this cyberattack.

The loss of production will hurt Toyota dealerships, which are already struggling with a low inventory of new cars. Toyota dealerships in the United States currently have a 21-day supply of new cars in stock. That is far below the 60-day supply, which is usually considered to be a healthy amount of inventory.

Source: Reuters

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