Wall Street Journal Summary
Article: Honda to Lean ore on US
Author: Chester Dawson and Yashio Takahashi
Date Published: Tuesday, November 27, 2012
Page: B3
Summary: Honda Motor Chief executive said his company wants to ramp up vehicle exports from the US part of a broader shift of development and production away from Japan to escape the effects on strong yen. Since Japan is one of the largest auto makers they want to expand to more territory. This includes mainly the US section. Mr. Ito said it is unlikely that Honda will ramp up exports from its domestic plants, due to this they want to keep the exports coming. Honda already exports to key countries for example Mexico, US, Africa, Russia and the Middle East, but they want to maintain developing more exports. Last year it was reported that Honda exported about 55,000 vehicles from North America. Although they are low on the work at their plants they mentioned that the plan is based the premise to be able to make profits even with the plants operation 70% not 100%. Basically they want to put more profit on export rather than Import. It is known that Japan got affected by the natural disaster last year, yet they manage to keep the company going smoothly. Chief Executive Takanobu also mentions that this year the company returned to full production worldwide. He also said that for the first half of the year the production at plants in North America recovered 90 as a whole. Mr. Ito also mentioned that production