Unless competitive barriers such as the strong yen and high corporate tax are eased as soon as possible, the nation's automakers may not be able to keep building cars in Japan, newly appointed Japan Automobile Manufacturers Association Chairman Akio Toyoda said Monday.
"It is not just about exchange rates, but if we continue to face these critical barriers, Japan's manufacturing industry will collapse," said Toyoda, president of Toyota Motor Corp, who was appointed JAMA chief on May 17.
He cited what has come to be known as the "six barriers" — the strong yen, the high corporate tax, slow progress in concluding free-trade agreements with other nations, strict regulations in the domestic labor market, stringent goals for reducing carbon dioxide emissions and the possibility of electricity shortages.