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The auto industry must take the initiative to be more competitive until the benefits of Prime Minister Shinzo Abe’s deflation-busting economic policies are fully felt, according to Akio Toyoda, chairman of the Japan Automobile Manufacturers Association.

“In a word, the industry (as a whole) needs to increase further competitiveness” to take advantage of Abe’s aggressive economic plan, dubbed “Abenomics,” Toyoda said in a recent group interview. “It all depends on strengthening global competitiveness while maintaining the competitive edge of domestic production and development bases.”

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