from yesterday's Nikkei

円高圧力強まる懸念　一時７９円　欧米財政リスク続く　輸出競争力低下の恐れ

Against the backdrop of the European financial debts,higher yen pressure has been strengtheing recently.
At an overseas market Tuesday, the yen increased temporarily at the lower 79 yen level a dollar and at around the middle of the 109 yen level a yuro, which has been the highest in the past some 4 months. US financial worries added,money wanting to avert market risk has run into the yen buying. As already the yen is higher that most companies expected, there will be a possibility that the situation will prevent Japanese companies from getting recovered due to the decling of export compatitiveness if it lasts long time.

from today's Nikkei

トヨタ　国内生産維持へ再編　車体２社、完全子会社に　円高定着、効率化急ぐ

Toyota Corporation announced Wednesday that it will make its two subsidiaries of auto-body makers, Toyota Auto Body and Kanto Auto Works,which are both listed in the first section of the Tokyo Stock Exchange, completely controlled subsidiaries in January, 2012. Amid the situation that higher yen has been the norm, in order to maintain the 3 million unit domestic production scheme, relationship among companies should be changed from production consignments to more devised one, they seem to judge. Recently, in the global markets, there has appeared new rivals, for example, from South Korea. Given such condition the Toyota management has decided to make a further alignment in the group management pursuing efficiency.