Japan: Yazaki, Yorozu reported to apply for US aid

摘要

THE Japanese suppliers Yazaki and Yorozu, which respectively supply GM and Chrysler and GM only, are reported by the Kyodo News of 24 April to have applied to the US government for the invoice factoring funds designed to protect the two OEMs' supply chain. Yazaki supplies wiring harnesses and indicators to GM and Chrysler, and Yorozu supplies GM with suspension components. The news of the loan coincided with the announcement of substantial US production cuts by GM, suggesting a dearth of orders may be a tougher short-term problem than the potential failure of the Detroit OEMs to pay their bills.