December 26, 2012

JAMA Comments on Announcement of New Abe Cabinet

Akio Toyoda, Chairman, Japan Automobile Manufacturers Association, Inc.

Japan at present is confronted with a number of pressing concerns, including protracted and excessive yen appreciation, a deflationary domestic economy, diplomatic issues requiring resolution, and a social security system in need of revamping.

Under such challenging circumstances, JAMA looks forward to the determined resolution of the issues at hand by incoming Prime Minister Shinzo Abe’s new Cabinet, in order to fulfill the pledges made by the Liberal Democratic Party.

With regard to the government’s Tax Reforms and Comprehensive Reform of the Tax System for fiscal 2013, the automobile industry is requesting the total elimination of the automobile acquisition and tonnage taxes, to reduce the heavy burden of Japan’s auto-related taxes on vehicle owners.

Also, in view of the need to sustain and further nurture the competitiveness of Japan’s domestic industries, JAMA strongly advocates continued measures aimed at correcting the excessive strength of the yen, as well as decisive steps to advance, on an equal footing, the Trans-Pacific Partnership and other free trade-promoting economic accords.

JAMA stands ready to cooperate fully with the new administration in the mission to achieve economic recovery in Japan.