Japan Stocks Fall as Post-Quake Output at Mazda, Honda Plunges
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Japanese stocks dropped, led by car and tire makers as Mazda Motor Corp. and Honda Motor Co. said domestic vehicle production fell by more than half in March after a record earthquake and tsunami disrupted supply chains.
Mazda, Japan’s second-biggest car exporter, dropped as much as 2.7 percent. Bridgestone Corp., the world’s largest maker of tires, fell 1.3 percent. Tokyo Electric Power Co. gained 8.4 percent after a Nikkei newspaper report that the government’s plan to compensate victims of the Fukushima nuclear accident doesn’t involve de-listing the utility. Banks, large Tokyo Electric shareholders, also rose.