By Daniel Leussink and Maki Shiraki
TOKYO (Reuters) -Toyota Motor does not face an immediate chip shortage from recent Chinese export restrictions related to chipmaker Nexperia, even as the Japanese automaker is carefully watching risks to production, Chief Executive Koji Sato said.
“I do think there’s some risk, but it’s not like we’re facing shortages tomorrow,” Sato told reporters at the Japan Mobility Show in Tokyo on Wednesday afternoon.
While the issue could impact Toyota’s output, the world’s top-selling automaker would not be suddenly exposed to a major supply crunch, he said.
Automakers worldwide are scrambling to secure chips and review inventories as concerns mount over a deepening supply squeeze linked to Dutch chipmaker Nexperia.
China banned exports of Nexperia’s products after the Dutch government seized control of the firm last month, citing fears of technology transfers to its Chinese parent Wingtech, which the United States has flagged as a potential security risk.
As an overall industry, Japanese automakers are working to standardise legacy chips to avoid the kind of severe shortages seen during the pandemic, when customised semiconductors left automakers vulnerable, he said.
His comments came after smaller rival Nissan said it had enough chips at the moment to last until the first week of November without disruption – just days away.
Separately, Sato said that the world’s biggest automaker has no plans to revise the tender offer price for Toyota Industries as part of a planned buyout, despite criticism from some shareholders.
The Toyota group said in June it would take Toyota Industries private through a holding company backed by Toyota Motor, Toyota Fudosan and Toyota Chairman Akio Toyoda.
The offer of 16,300 yen ($108.10) per share represents a premium over historical averages before reports of the deal but is below the price on the day before the announcement, drawing complaints from investors who say the bid undervalues the company.
The transaction, aimed at taking the forklift maker and key Toyota supplier private, is part of a broader restructuring of Toyota’s group and has faced calls for greater disclosure from global asset managers.
Sato said the group will proceed with high transparency and, as a basic principle, ensure minority shareholders’ interests are carefully considered. He added that the goal is to advance the plan in a way that secures broad stakeholder understanding rather than rushing it.
($1 = 150.7800 yen)
(Reporting by Daniel Leussink and Maki Shiraki; Editing by David Dolan and Kim Coghill)
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