Toyota Motor president Fujio Cho is apparently unconcerned at the Japanese yen’s current relatively high value against the US greenback.

Speaking at the launch of a new minivan in Japan he reportedly said: “There were times when the yen was much stronger. We don’t see a serious impact on our business from the current exchange rate levels.”

Cho emphasised Toyota#;s long-held view that 110 to 120 yen to the dollar was about right, reports from Japan said.