Weak yen to keep output in Japan up

Tokyo

CHIEF executive Carlos Ghosn at Japan's Nissan Motor Company has declared that his company will step up production in Japan provided the yen remains at around its current levels versus the dollar - a pledge likely to have cheered the Bank of Japan's embattled governor, Haruhiko Kuroda, and also Prime Minister Shinzo Abe.

The pledge by the internationally well-known motor industry chief could do much to vindicate the BOJ's aggressive monetary easing strategy, even though the bank is still far from reaching its inflation target. It also suggests that Japan's ambitious economic growth envisaged under Abenomics could come within reach, analysts said.