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Nissan Aims to Reduce Ties to Yen
CEO Carlos Ghosn tells Bloomberg TV that Nissan Motor Co. intends to continue decreasing its exposure to the yen, "no matter what."
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CEO Carlos Ghosn tells Bloomberg TV that Nissan Motor Co. intends to continue decreasing its exposure to the yen, "no matter what."
The steep yen makes Japan-made cars expensive overseas and shrinks the value of repatriated profits.
Ghosn didn't say how much more production Nissan aims to transfer from its home market. The company has been shifting its output abroad in recent years and now makes 75% of its vehicles outside Japan.
Recent declines in the yen's value against the dollar aren't enough to restore the profitability of vehicles produced in Japan, according to Ghosn. He suggests that 100 yen to the dollar is a "neutral" exchange rate compared with 88.09 on Thursday.
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