The world’s largest automaker says that it has opened an investigation into the glitch, but it is unlikely that it was caused by a cyber attack.
Toyota suspended operations in all of its 14 factories in Japan due to a system failure, the company said on Tuesday.
While initially halting 12 plants, the world’s largest automaker later stopped operations at the remaining 2, citing a system glitch. Toyota said that the losses incurred due to the incident remain unclear and that it has opened an investigation into that matter.
A cyber attack on one of its subsidiaries last year forced the firm to suspend all of its production facilities. But Toyota said that a cyber attack is unlikely to be the cause behind the system failure.
“[We] are not able to process orders for parts due to a system glitch… At this point, we believe it is not a cyberattack,” a Toyota spokesperson told AFP, noting that production lines will be restored “as soon as possible.”
Toyota’s market shares fell by 0.64 percent following the news, before gaining back some value later in the day.
As of 2022, the company held its position as the world’s top automaker seller for the third consecutive year.
According to a Reuters estimation, Toyota’s Japan output accounts for nearly a third of its global production. This makes the automaker’s stocks of high impact on the Tokyo exchange.