Japan Automobile Manufacturers Association Chairman Akio Toyoda expressed hope Friday that the government to be formed following the Dec. 16 election will support the auto industry, which has been hit by a strong yen.
“Private-sector companies have been plagued by the yen’s appreciation and other hardships. Earnings have deteriorated and many firms have been forced to slash jobs,” Toyoda, who is also president of Toyota Motor Corp., told a press conference.
“I want (the next leaders) to understand that we have no time to lose and lead us in the right direction,” he said prior to Prime Minister Yoshihiko Noda’s Friday afternoon dissolution of the House of Representatives for the December general election.
Toyoda also said recent anti-Japan protests in China over a territorial dispute have significantly hurt Japanese automakers’ earnings..
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.