Although it is too early for many issuers to assess the potential impact from the recent magnitude 9.0 earthquake in Japan, some companies have made disclosures in the aftermath.
Toyota Motor Corp. filed a Form 6-K on 3/15 reporting it suspended production at all plants and all subsidiary vehicle-manufacturing plants on March 14, 15 and 16. Toyota was able to confirm that the team members of Toyota and their family members were safe.
By Form 8-K filed on 3/15, Utah-headquartered Nu Skin Enterprises Inc. reported that no significant damage was sustained by the company’s offices, warehouses or inventory in Japan and that Nu Skin was working to normalize operations as soon as possible despite ongoing challenges with power outages and transportation shutdowns. Japan accounts for approximately 30% of the company’s revenue globally and the area of Japan most severely impacted by the catastrophes represents slightly less than 10% of Nu Skin revenue in Japan.
Finish issuer Nokia Corp. filed a press release on Form 6-K on 3/21 about the preliminary view of the earthquake impact. Nokia expects some disruption to the ability of its Devices & Services unit to supply a number of products due to the currently anticipated industry-wide shortage of relevant components and raw materials sourced from Japan. However, Nokia does not expect any material impact on its 1Q11 results due to this event.
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