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Akio Toyoda of Toyota Motor and Japan's prime minister Abe- "we are of one mind in fighting deflation"
02/20/2015
Toyota Motor is not asking for price concessions from suppliers in fall 2014 and is likely to do the same in spring 2015, so that suppliers can raise wages for the estimated 1.35 million employees at Toyota suppliers in Japan. Toyota Motor CEO, Akio Toyoda, also a grandson of a Japanese leader like prime minister Abe, says "we are of one mind in fighting deflation." Toyota has benefitted from the yen at 110 to the dollar which increases revenue and profit from exports. Both Abe and Toyoda carry a large responsibility as Japan fights off the effects of deflation, and the effects of an increase in the consumption tax on consumers.
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