Toyota May Stop ‘Insisting on Japan’ Because of Yen, Quake
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Toyota Motor Corp., the automaker that built 45 percent of its cars in Japan last year, may need to produce more abroad because of the yen’s near-record strength following the nation’s most powerful earthquake.
“How much longer should we insist on producing in Japan?” said Chief Financial Officer Satoshi Ozawa, seated next to President Akio Toyoda at a press conference in Tokyo yesterday. “I feel strongly that our efforts may have exceeded the limits of what is possible in dealing with the yen’s impact.”