Honda may leave Japan

Posted at December 24th, 2008 under Honda | No Comments »

Honda Motor Co. has warned that the company could leave Japan if the Japanese government refuses to take essential measures to halt the strengthening o the yen. If the government has no concern about the export industry then the company would act according to it. The Chief Executive Takeo Fukui said that “If we go beyond (100 yen), we would simply have to transfer more production overseas, cut more temporary workers and even start laying off permanent jobs,”.

He also added “Beyond that we could switch to importing more cars into Japan, bring research and development facilities overseas, and in an extreme scenario move our headquarters offshore. It would cause nothing short of a hollowing out of Japanese industry.”