Japan’s carmakers lag in R&D as foreign rivals pour in billions

Japan’s seven major automakers will spend a combined JP¥3.94tr (US$26.8bn) on R&Din the fiscal year ending March 2026, equal to just 3.92% of their projected sales. According to Nikkei, the group—which comprises Toyota, Honda, Nissan, Suzuki, Subaru, Mazda and Mitsubishi—is nudging R&D up only 2% despite a roughly 40% expected drop in aggregate operating profit.