P.M. BRIEFING : Nissan Eyes Export-Import Balance
Japan’s No. 2 auto maker Nissan Motor Co. announced today a three-point action program aimed at reducing exports, increasing overseas production and expanding imports, including finished vehicles.
The announcement coincided with newspaper reports that government officials are concerned over further escalation of trade friction between Japan and the United States, which has strained relations between the two countries. Japan’s trade surplus with the United States has topped $50 billion annually over the last several years.
Nissan said its plan aims to reduce its exports to the 1-million unit level by fiscal 1992 from the 1985 peak of 1.41-million units. The company said it will increase overseas production to bring down the ratio of exports to local production to 1:1 by fiscal 1992 and further to a 1:2 reversal by the end of the 1990s from 2:1 in 1988. Nissan also said its overseas production bases will promote localization of its overseas research and development facilities for greater use of local parts suppliers.