Toyota Motor Corp. President Akio Toyoda acknowledged that shifting output abroad may be inevitable to ward off damage from a rising yen, a reversal of course for the carmaker.
Toyoda made the comments in a New Year's message posted Friday on the company website. He promised to outline in April his plan to revamp management and regain trust after the global massive recalls that battered Toyota's reputation.
Under the new strategy, it may also become necessary to move output to eke out profit amid currency rate fluctuations, he said, noting such decisions will be made carefully.