Toyota Motor Corp. President Akio Toyoda denied Monday the automaker is stepping up efforts to transfer production bases overseas even though the surging yen has made auto production costly at home.
"Logically, it doesn't make sense to manufacture in Japan," Toyoda told reporters in Nagoya. "But I feel a sense of crisis and worry what would happen to this country, which largely depends on manufacturing, if Toyota (scaled back production in Japan).
"I know that the present situation for manufacturing is very tough, but our Toyota group places much importance on maintaining production (bases in Japan)," the president said.
http://www.reuters.com/article/idUSTRE69E15R20101015
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