Japan factory output falls 7.5% in Jan., hit by Toyota group scandal

Japan's industrial output in January declined 7.5 percent from the previous month, the biggest fall since May 2020, as automobile production plunged amid suspensions at Toyota Motor Corp. group companies due to safety test scandals, government data showed Thursday.The industry ministry revised down its basic assessment for the first time in six months, saying industrial output "showed weakness while fluctuating indecisively." It said last month that production in December was "fluctuating indecisively."The decline was the largest since the 8.0 percent drop seen in May 2020, when production …READ FULL ARTICLE