April 10, 2013 / 4:40 AM / in 5 years

Manufacturers grateful for Japan govt deflation steps-Toyota president

OHIRA, Japan, April 10 (Reuters) - Japanese manufacturers are grateful for the government’s steps to pull the country out of deflation, Akio Toyoda, the president of Toyota Motor Corp , said on Wednesday.

“The Japanese manufacturing industry is grateful for the government’s quick attempt to bring Japan out of deflation that has continued for 20 years,” Toyoda told reporters in northeastern Japan.

The yen, which hovered near record highs against the dollar last year, has fallen roughly 15 percent versus the greenback since Shinzo Abe became prime minister in December and pledged to end deflation.

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