Honda will halve the number of vehicles it exports from Japan over the next 10 years to offset the effect of the rising yen, according to a report in the Asahi newspaper.

CEO Takanobu Ito told the paper the company would reduce exports from Japan to 10-20% from 34% in the 2010/11 business year over the next decade.

This would be in line with Honda's stated plan to sell 80-90% of vehicles produced in various regions around the world in local markets to reduce the impact of currency swings.

Honda has also said it would increase its 660cc minivehicle offerings to boost sales in the shrinking Japanese market and try to keep annual output in Japan at about 1m vehicles.

Honda built about 910,000 of its total 3.57m vehicles in Japan in the last business year.