InsideJapan News Network

Executives at Japanese car manufacturer Toyota have admitted they are concerned over the impact that a recent recall could have on the company.

At a press conference, members of Toyota's management said that the recall of more than five million cars is an unprecedented move by the firm and, therefore, there are serious worries over the potential fallout.

The recall was announced a week and a half ago but Toyota executives have not spoken until now.

Executive vice-president of the firm Shinicho Sasaki said that he did not know how much the recall could cost.

Reports suggest that many of Toyota's investors expressed annoyance that the firm's president, Akio Toyoda, did not attend the press conference.

Commenting on the situation, president of Atlantis Investment Research in Tokyo Ed Merner told the Times that the situation has been handled badly.

"They hid from the problem for a long time. They didn't attack it with full energy and they didn't react with full energy," he said.

Written by Mark Smith.


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