The car company Toyota is shutting two elevators at its global headquarters to save money. The world's largest automaker said Thursday it will shut down two eight elevators its main Tokyo office. This is to save electricity and to cut down the costs operating the building. One reason for this new move is the strengthening Japanese yen. The yen has become much stronger since the UK voted to leave the EU June the 23rd. One dollar bought nearly 120 yen in January; now it buys just 100. A stronger yen means Toyota cars sold overseas are more expensive and profits go down. Toyota's profit the year ending March 2016 was a record ¥2.31 trillion, which is $23 billion.
A Toyota spokeswoman said the company decided to shut down the elevators several weeks ago because the rising yen. The company is also adjusting the temperature air conditioners to save money. The spokeswoman said Toyota took similar cost-cutting measures the financial crisis that happened September 2008. That also made the yen strengthen the dollar. The spokeswoman said: "These policies are not new." She added: "The key objective the stoppage of elevators specifically is to raise awareness employees, and to remind them of the commitment that Toyota has the idea of increasing competitiveness staying lean and reducing waste."
