Toyota could source more materials overseas - leatherbiz: Leading news Leatherbiz

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Toyota could source more materials overseas

04/08/2011
Automotive manufacturer Toyota has complained that the high value of the yen is hurting its margins and has said it will consider importing more materials and components from outside Japan to address the problem.

Senior managing director, Takahiko Ijichi, has told the Financial Times that the current rate of around 77 yen to the dollar, compared to 92 just over a year ago meant it was losing around 300,000 yen on every car exported from Japan.

Importing more materials, including leather, from overseas would be one way of increasing margins.


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