TOKYO -- Toyota Motor Corp., the world's third-largest automaker, said on Tuesday it felt that British membership of the euro would make good business sense, but the decision was up to the British people and government.
The auto giant's statement followed Britain's decision on Monday to stay out of the single currency for now but to review the matter next year.
Britain's ambivalence about the euro has long been a thorn in the side of many of the world's major car makers, which have plants in Britain that suffer when the pound is strong.
"We continue to believe that, from an export business viewpoint, it makes good sense to join the euro -- provided the exchange rate is appropriate -- as it provides stability on which business decisions can be made," Toyota said.
Ford Motor Co.'s chief operating officer, Nick Scheele, said on Friday that it was "a strategic imperative" for Britain to join the single currency.
Others have been less emphatic, with General Motors Corp. CEO Rick Wagoner saying last month that adoption of the single currency would remove some uncertainty but it was not "a do-or-die issue" for investment decisions.
Similarly, Nissan Motor Co.'s chief executive, Carlos Ghosn, told the Financial Times newspaper in May that a firm commitment to joining the euro would not necessarily be crucial to the decision to build a replacement for the Almera sedan at its British plant in Sunderland or to move it elsewhere.
Nissan declined comment on Tuesday.