Five of Japan's eight automakers are expected to post significant losses in the next few weeks. Demand for their cars and trucks in the United States, their biggest market, has plunged nearly 35 percent in the past year. Scores of suppliers are on the brink of bankruptcy. Thousands of workers have lost their jobs, and many are losing their homes. These are challenges Detroit has been struggling with for years.
But this is not Detroit.
This is Tokyo, where laid-off auto workers are sleeping in parks, financiers are fretting about the impact of a General Motors Corp. bankruptcy on already weak parts makers, and the heads of once-invincible automakers like Toyota Motor Corp. are watching sales decline and losses mount.
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