Nissan’s CEO Disappointed on the Weak Yen image

Nissan’s CEO Carlos Ghosn said Japan’s international competitiveness was hurt by the country’s refusal to reduce its exchange rate.

“When we established our plan, we did not know about the friction between China and Japan,” Ghosn said. “We did not know that the so-called efforts to weaken the yen would bring no results. But we know we needed a plan to unite people inside our company and to give people something to fight for, a shared vision.”

He added that Japan and China should solve the conflict between them and he criticized Japan’s financial authorities, saying that little is being done on the yen, to make the country competitive again. Ghosn was surprised by the fact that the exchange rate was kept at 79 yen and this could only mean a drawback for the industry which is judged after its results, not the efforts.

Nissan’s CEO said that the automaker’s business in China does not present an economic risks and that Chinese customers are beginning to return to its showrooms.

“The global economy is fine. This will be another year of growth,” Ghosn said. “The car industry is going to have another record year … in 2013.”