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8 Jan 2014
Japan's fourth arrow to offset tax hike setback - Toyota
FXstreet.com (Bali) - Toyota Motor Corp., Japan’s largest car maker, expects a significant boost of demand as the country prepares for the 2020 Tokyo Olympics, noting it will help to limit the negative impact of a planned sales tax hike next April.
According to Toyota's President, Mr. Akio Toyoda, cited by Bloomberg, the business environment should be “sunny after cloudy,” adding “along with the three arrows, there is now a fourth arrow, which is the Tokyo Olympics. There will be some impact from the sales tax increase, but it should be limited, and at most, last about three months.”
At a press conference held Monday, in what represents his first official public appearance in 2014, Abe told a gathering of Japan’s largest business lobbies, he will “go on the offensive” by beating the chronic deflation nightmare and rejuvenate the Japanese economy. Abe said “the effects of the economic recovery have expanded steadily over the past year,” he said.
According to Toyota's President, Mr. Akio Toyoda, cited by Bloomberg, the business environment should be “sunny after cloudy,” adding “along with the three arrows, there is now a fourth arrow, which is the Tokyo Olympics. There will be some impact from the sales tax increase, but it should be limited, and at most, last about three months.”
At a press conference held Monday, in what represents his first official public appearance in 2014, Abe told a gathering of Japan’s largest business lobbies, he will “go on the offensive” by beating the chronic deflation nightmare and rejuvenate the Japanese economy. Abe said “the effects of the economic recovery have expanded steadily over the past year,” he said.