Japan's domestic car production in danger: reports

HONG KONG (MarketWatch)
Japanese auto makers may not be able to keep producing cars domestically unless barriers like the strong yen and high corporate tax rates are eased, Toyota Motor Corp. President Akio Toyoda said, according to reports
"If this level [of yen] persists for a long period of time, manufacturing industry will start collapsing," said Toyoda -- who is also chairman of the Japan Automobile Manufacturers Association -- according to a Kyodo report
Local auto makers are trying to stick with domestic facilities to protect jobs, as shifting production of a million vehicles overseas would leave thousands of industry employees out of work, Toyoda said at JAMA headquarters on Monday, according to a Japan Times report