Latest update from Honda Motors on Japan Earthquake

Japanese Auto major Honda Motor Co has said that all production activities have been suspended at five Honda plants following Friday's earthquake.

Sayama Plant at Saitama Factory (Sayama, Saitama), Ogawa Plant (Ogawa-machi, Hiki-gun Saitama), Tochigi Factory (Moka, Tochigi), Hamamatsu Factory (Hamamatsu, Shizuoka) and Suzuka Factory (Suzuka, Mie) have been named by the carmaker as the plants where the production has come to a standstill.

From March 15 through 20, Honda will suspend all production activities at its plants listed above as well as at Kumamoto Factory (Ozu-machi, Kikuchi-gun, Kumamoto), the company informed in the statement.

From March 14 through 20, Honda will suspend regular operations at all Honda facilities in the Tochigi area, where damage was more serious, and focus on the recovery of each operation. Honda associates will not come to work during this time at those facilities, including Tochigi Factory, Honda R&D Co., Ltd., R&D Center and Honda Engineering Co., Ltd, it added.

Honda is cooperating with electricity conservation efforts and rolling blackout measures, prioritizing the relief and recovery of affected areas.

Aid

With the hope to contribute to the earliest possible relief and recovery of affected areas, Honda will provide the following aid:

* From Honda in Japan, 300 million yen (approximately $3.7 million) toward the relief and recovery effort

* A total of 1,000 generators (gasoline-powered and home-use gas canister-powered), along with 5,000 gas canisters. Honda also will dispatch its staff to explain the use of this equipment.

* The Honda family of companies in North America will establish special matching gift programs for their associates for donations to the Red Cross to aid the victims of the earthquake and tsunami in Japan. Donations from associates will be matched on a dollar-for-dollar basis, with no personal or corporate donation limit. Honda employs more than 29,000 associates in North America.

Honda is assessing the long-term impact on Honda auto production in North America, since some auto parts are supplied from Japan.

We currently have adequate inventory of products supplied from Japan, both in inventory and in transit from Japan, the carmaker said.

Honda Fit, Insight, CR-Z, Civic Hybrid, Acura TSX and Acura RL are produced in Japan for the North American market. Honda produces a small percentage of CR-Vs in Japan for the U.S. as well.

Honda's operations in North America and globally will do everything they can to support the recovery of Honda's operations in Japan.