Honda Motor Co. expects no relief from the worst domestic economy in 35 years unless the yen weakens.
"Japan's economy cannot survive without its export industry," President Takeo Fukui said in an interview Monday in Tokyo. "If the yen stays at this strong level, it's likely the recession" will continue.
The yen surged 23 percent against the dollar last year, crippling exports from Pioneer Corp., Toyota Motor Corp. and Sony Corp., all of which have cut jobs. Gross domestic product shrank an annualized 12.7 percent last quarter, twice as bad as in Europe or the U.S.