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Japan disaster takes dire toll on economy

TOKYO — The destruction in Japan caused by Friday’s earthquake and tsunami may be reflected in the Tokyo stock market today, with some analysts predicting it will nosedive. The Bank of Japan said it’s ready to take action to support the economy and ensure there’s enough cash in the financial system to keep it operating normally.

The hard-hit northeast of Japan is a major center for car production, complete with a myriad of parts suppliers and a network of roads and ports for efficient shipments.

The quake — the biggest in modern Japanese history — left all that in shambles.

Toyota, the world’s top automaker, Nissan and Honda are suspending production at all their auto plants in Japan, starting today. When production will resume is uncertain.

Honda said the production halt will cost it about 4,000 vehicles a day.

Profits at utilities Tokyo Electric Power and Tohoku Power are likely to suffer because of recovery expenses for the nuclear power plants damaged by the quake.

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