Toyota closes elevators to save money
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READING:
Toyota is shutting down two elevators at its Tokyo headquarters to save money. It will also save electricity and lower the costs of being in the building. One reason for doing this is the Japanese yen is becoming stronger, especially since the UK voted to leave the EU. In January, one dollar was nearly 120 yen; now it is just above 100 yen. A stronger yen means Toyota cars are more expensive and profits go down. Toyota's profit last year was a record $23 billion.
Toyota said it decided to shut down the elevators weeks ago. It is also changing the temperature of air conditioners to save money. Toyota did similar things after the financial crisis of 2008. That also made the yen stronger against the dollar. Toyota said: "The key objective for the stoppage of elevators…is to raise awareness amongst employees, and to remind them of the commitment that Toyota has towards…reducing waste."
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