Abstract: According to a Wall Street Journal report, two Nissan executives recently claimed that the Japanese government should adopt “decisive†measures to prevent the Japanese yen from continuing to strengthen its “grounding out†of Japan’s industrial base; at the same time, it indicated that it will increase the proportion of imported overseas parts. , especially parts from China and South Korea.
On September 26th, John Martin, vice president of North American Logistics of Nissan, pointed out that the yen has appreciated to an “abnormal†level, beyond the ability of a single company to solve the problem; and said: “The current situation requires the (Japan) government to take major decisive measures.
We believe that (Japan Prime Minister Noda Yoshihiko) will consider the issue based on the experience of the Swiss Franc. "John Martin wants Japan to learn from the Swiss government's involvement in the foreign exchange market, and the Swiss Central Bank successfully established a ceiling for the Swiss franc exchange rate against the euro this month, and caused some speculative capital to flow to the yen market."
Colin Dodge, executive vice president of Nissan North America, also said on the same day that he was pressured by the Japanese government to urge Tokyo to adopt a stronger monetary policy to prevent the yen from further strengthening. Dodge said: "We hope that the Japanese government will do something to ease the pressure on the appreciation of the yen." He believes that the Japanese government should increase financial market liquidity to reduce the rate of appreciation of the yen; at the same time, it also disclosed in the statement, the end of August Nissan's annual global production It is expected to increase 150,000 vehicles compared to 2011, but it is still lower than the company's target of 3.7%. ColinDodge pointed out that "unless consumers' enthusiasm for car purchase is obviously improved in the next 6-8 weeks," Nissan is unable to fill the 80,000-unit production gap between reality and target.
In order to deal with the strong yen trend, Nissan plans to increase the proportion of imported parts used. Nissan’s factory in Kyushu, southern Japan, currently uses 28% of imported parts and is expected to increase to 40% by 2013. Most of the imported parts will come from China and South Korea.
On September 26th, John Martin, vice president of North American Logistics of Nissan, pointed out that the yen has appreciated to an “abnormal†level, beyond the ability of a single company to solve the problem; and said: “The current situation requires the (Japan) government to take major decisive measures.
We believe that (Japan Prime Minister Noda Yoshihiko) will consider the issue based on the experience of the Swiss Franc. "John Martin wants Japan to learn from the Swiss government's involvement in the foreign exchange market, and the Swiss Central Bank successfully established a ceiling for the Swiss franc exchange rate against the euro this month, and caused some speculative capital to flow to the yen market."
Colin Dodge, executive vice president of Nissan North America, also said on the same day that he was pressured by the Japanese government to urge Tokyo to adopt a stronger monetary policy to prevent the yen from further strengthening. Dodge said: "We hope that the Japanese government will do something to ease the pressure on the appreciation of the yen." He believes that the Japanese government should increase financial market liquidity to reduce the rate of appreciation of the yen; at the same time, it also disclosed in the statement, the end of August Nissan's annual global production It is expected to increase 150,000 vehicles compared to 2011, but it is still lower than the company's target of 3.7%. ColinDodge pointed out that "unless consumers' enthusiasm for car purchase is obviously improved in the next 6-8 weeks," Nissan is unable to fill the 80,000-unit production gap between reality and target.
In order to deal with the strong yen trend, Nissan plans to increase the proportion of imported parts used. Nissan’s factory in Kyushu, southern Japan, currently uses 28% of imported parts and is expected to increase to 40% by 2013. Most of the imported parts will come from China and South Korea.
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