Yen Gains, Honda Factory Planning Move

Strengthening of the yen makes Honda Motor Co. was considering moving its production center outside Japan. The automotive industry bigwigs of Sakura was confirmed that the strengthening yen has exceeded the ability of their exporters.

However, a financial officer of Honda, Fumihiko Ike, asserted that employment in Japan still needs to be maintained. A stronger Japanese currency to arrive at 77 yen per dollar on Tuesday (9 / 8) encourage new regulations should be drawn up.

Yen rise to the protection of Japan's manufacturing sector and making cars in the country is becoming increasingly difficult. Honda could have stayed put technology here and if the production cars made ​​in Japan, then the price will be very expensive.

Honda is the third largest automobile manufacturer in Japan and last year exported 30 percent of total domestic production. Honda's competitors such as Toyota and Nissan to export 53 percent of exporting 59 percent of total production in Japan.