Toyota, Honda face double whammy as yen rises
The rising valuation of the yen looks set to further hurt the prospects of Japanese carmakers such as Toyota and Honda that are already struggling to restart production after last Friday’s catastrophic earthquake and tsunami.
Crippled by power cuts, logistics difficulties and shortage of parts, Japanese carmakers such as Toyota and Honda are already struggling to resume production, and now the rise in yen is rubbing salt to their wounds.
Toyota, the world's largest automaker, said on Wednesday (March 16) that it will
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