Japan's three major car manufacturers Toyota, Honda and Nissan Motor announced on April 11 to recall at least 3 million cars. The reason was the airbag fault.
Toyota Motors announced a global recall of 1.73 million cars, including the Corolla and Camry models, due to the failure of the booster pump, the airbag may be accidentally started front seat side, or the belt device may be activated automatically. Yamada, the spokesman of Toyota, said that Toyota has received 5 airbag fault reports, but did not lead to accidents and casualties in the incident. The cars which have problems were produced from 2000 to 2004.
At the same time, Honda announced to recall 1.14 million cars, while Nissan announced the recall of more than 137,000 cars in Japan.
After the news, the shares of airbag supplier the Takada on the Tokyo stock market plunged 11%. But the share price of the Big Three auto manufacturers seems to be unaffected. Toyota shares rose 5.4% while Honda rose 3.1% and Nissan rose 4.4%.
