Honda Aims to Triple Auto Exports from U.S.

CEO Takanobu Ito tells The Wall Street Journal that Honda Motor Co. intends to boost its exports of American-made vehicles from 6% to 7% of U.S. output now to as much as 20%.

The initiative is part of the company's broader plan to move development and production of all but the smallest vehicles overseas from Japan to escape the strong yen. The yen, which has surged 15% against the dollar since 2009, shrinks repatriated profits and hikes the cost of Japan-made cars sold abroad.

Ito says Honda is transferring engineering duties for the next-generation Civic compact car to the U.S. and may do the same for the next Accord midsize sedan. He adds that the company may shift responsibility for a future global car to China.

Honda aims to remain profitable even if its plants are operating at 70% of capacity, Ito tells the Journal. The company's worldwide capacity use plunged to 60% last year amid Asian natural disasters but recovered to 83% in the first half of 2012.