Japan's biggest earthquake in 140 years has pushed global stocks and commodities markets lower. But guess what's up? The yen.
The Japanese currency took a brief dip but then quickly turned higher against all 16 of its major counterparts. The reason? It still has safe-haven status, and there is speculation that overseas Japanese are repatriating large amounts of the currency.
The Bank of Japan has also promised to do its utmost to support the financial markets. That could spark inflation -- which, in Japan, could actually be a healthy outcome.
The yen appreciated 0.9 percent to 82.23 per U.S. dollar, and jumped as much as 1.1 percent, the most since Feb. 24. It earlier fell as much as 0.4 percent to 83.30, its weakest since Feb. 22.
Meanwhile, the stock market has already earmarked the potential losers from the earthquake: the world's biggest reinsurance companies. Swiss Re, Munich Re and Hannover Re fell 4.8 to 5.5 percent each. Japan is one of Swiss Re's biggest markets.
The companies issue backup insurance to primary insurers so that the system can cover large losses from disasters. The impact on the companies depends on many factors, such as how much of the damage was insured by them and how much they charged for coverage.
Hannover Re already said last week it expected to pay out $207-million (U.S.) for the earthquake that hit New Zealand.
Reuters has compiled this table of damage to companies within Japan. They are listed in alphabetical order:
Asahi Kasei Corp.
- Factory in Miyagi halted due to power outage. Workers evacuated so damages to facilities unknown.
Bridgestone Corp.
- No big damage to all factories so far.
Canon Inc.
- No damage to facilities or big injuries.
Citigroup Holdings Japan
- No damage to trading facilities, operating normally after quake. All staff in central Tokyo safe. Company will send staff home early. No confirmation of safety of all staff in retail branch offices outside Tokyo. Has no office in Sendai.
Cosmo Oil Co.
- Major fire at oil refinery, near LPG tank, in Chiba prefecture, east of Tokyo. All operations halted. Work to put out fire going on since 0658 GMT.
Fuji Heavy Industries Ltd.
- Halted eight of 10 factories, including all five car and car parts-related plants for its Subaru-brand vehicles in Gunma prefecture, north of Tokyo. Aircraft factory and power products factory in Tochigi prefecture also suspended.
- No injuries reported.
Fujitsu Ltd.
- Damage to some facilities but nothing serious. No casualties.
Honda Motor Co.
- A 43-year-old male employee dies at Honda R&D Centre in Tochigi prefecture after wall collapses in cantine. In other Tochigi facilities, including other R&D sites and engine parts/transmission factory, walls and ceilings damaged, injuring 30-some employees.
- Sayama, Tochigi and Hamamatsu factories halted production.
- Suzuka factory in central Japan temporarily halted but restarted.
JFE Steel
- Says there was no fire at its Chiba prefecture steel plant , denying earlier report s.
JSR (synthetic rubber maker)
- Kashima factory, in Ibaraki prefecture, stopped production but no damage to facilities.
Mitsui Mining and Smelting Co.
- Halts operation at Hachinohe zinc smelter, in Aomori prefecture.
Nippon Paper Group.
- Factories in Miyagi and Fukushima prefectures halted production. Damage unknown.
Nissan Motor Co.
- Production halted at all four car assembly factories in Japan, including those in severely hit Tochigi and Fukushima prefectures. Small fires confirmed at those two factories. Two suffered minor injuries at Tochigi factory.
Oriental Land Co.
- To close Tokyo Disneyland, in Chiba prefecture, on Saturday. Undecided on operations for Sunday. No injuries to guests or staff reported as of 0930 GMT.
Panasonic Corp.
- Two factories in Fukushima, producing audio products and digital cameras, one in Miyagi prefecture (Sendai) producing camera lenses.
Sapporo Breweries Ltd.
- Little damage to Sendai factory. Products damaged. Production halted in Sendai and Chiba factories due to power outage.
Sony Corp.
- Six factories, (two in Fukushima, four in Miyagi), all halted and most employees evacuated. One Miyagi factory makes semiconductors, the other three make optical film and various other parts. The two Fukushima factories make batteries.
- Floor of chemical products factory in Miyagi flooded and about 1,000 employees taking refuge on second floor.
Sumitomo Metal Industries.
- Suspends operations at two blast furnaces at Kashima plant, in Ibaraki prefecture. No injuries reported.
Tohoku Electric Power Co.
- Smoke noted in turbine room at Onagawa No.1 reactor, in Miyagi prefecture, spokesman says. No sign of radioactive leak.
Tokyo Electric Power Co
- Three reactors at Fukushima Daiichi nuclear plant automatically shut. Cooling systems attached to reactors also down, but does not necessarily result in radioactive leakage. Monitoring shows no radioactive leakage.
Tokyo Gas Co.
- Stopped gas supply to more than 35,000 households and facilities in Kanto area in eastern Japan.
Toyota Motor Corp.
- Subsidiary Central Motor Co: Miyagi prefecture, near Sendai. Started production in January 2011, builds Yaris subcompact sedan. Capacity: 120,000 units a year.
- Subsidiary Kanto Auto Works: Iwate prefecture. Builds smaller cars such as Belta sedan, Auris, Blade, ist.
- Joint venture with Panasonic Corp , Prime Earth EV Energy, in Miyagi prefecture. Makes batteries for hybrid cars. Production suspended.
- Toyota Motor Tohoku car parts factory. Operations started in Oct 1998. Production stopped, no injuries.
Sonali Verma