JAPAN DATA: Production by Japan’s top three carmakers in the
domestic market showed on-year gains in December. Toyota Motor said its
December domestic output rose 16.7% y/y, revving up from +5.1% in
November. Nissan Motor’s domestic output rose 24.6%, little changed from
+25.1% in the previous month. Honda Motor’s output was up 10.8%,
rebounding from -37.8% in November. These figures are more or less in
line with the recent forecast by the Ministry of Economy, Trade and
Industry that December output of transportation vehicles (mainly
automobiles) will rise 12.7% m/m. METI will release December industrial
output on Tuesday.