Toyota is the latest Japanese corporate icon making headlines for all the wrong reasons.
News of the automaker’s massive vehicle recalls over faulty gas pedals came just days after Japan Airlines, a once proud flag carrier, filed for bankruptcy, saddled with billions in debt.
Sony has lost its lead in consumer gadgets to the likes of Apple Inc. and has suffered its own quality mishaps. Honda, Japan’s No. 2 automaker, is recalling 646,000 cars worldwide because of a faulty window switch.
Taken together, Japan Inc.’s stellar reputation for quality has taken a hit - just as China is about to overtake it as the world’s No. 2 economy and rising South Korean companies compete ever more aggressively. (Canadian Press)
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