Last Thursday, the yen hit a seven-month high against the U.S. dollar. That wouldn’t be so bad if the country’s currency hadn’t strengthened so much, from under 120 yen per dollar five years ago to less than 78 at the end of last week.As a result, exports have become more expensive, thus limiting profits.
Japanese automakers have felt the strain for quite some time now. Add last year’s tsunami that seriously disrupted production and the high labor cost and corporate taxes and it is not difficult to see why the Japan Automobile Manufacturers Association (JAMA) decided to act.
Read more »
0 comments:
Post a Comment