Tokyo: Japanese Prime Minister Fumio Kishida visited the Japan Mobility Show on the opening day on Thursday, affirming public-private cooperation to promote domestic investment in talks with industry leaders.

They exchanged opinions on how the country’s automobile industry can remain competitive in the global market where automakers are pushing ahead with decarbonization and shifting to electric vehicles.

“We’ll do our best through the cooperation of the public and private sectors,” Kishida said, showing his eagerness to encourage investment.

The meeting was attended by members of the mobility committee of the Japan Business Federation, or Keidanren, created to discuss growth strategies for the auto industry.

The members included Toyota Motor Corp. Chairman Akio Toyoda and Masakazu Tokura, chairman of Keidanren. Industry minister Yasutoshi Nishimura and transport minister Tetsuo Saito were also present.

Kishida exchanged opinions with the auto industry for the first time since November last year.

The industry, involving various types of companies, has a large impact on the economy in many areas including employment.

“The government highly appreciates the industry’s active efforts for wage hikes, improvements in transaction practices and domestic investment growth,” Kishida said.

“We’ll make sure the big trends of the Japanese economy continue into next year,” he said, expressing his resolve to revitalize the economy.

Japan is clearly lagging behind China, the United States and European countries in promoting EVs.

Regarding storage batteries, a core EV component, as a key product in terms of economic security, the government is working to strengthen related supply chains and considering a tax cut to encourage investment to boost production of crucial products.

Speaking to reporters after the meeting, Toyoda said, “We’ve confirmed that a more competitive system can be created for both EVs and autonomous driving if the government and the business community build a cooperative relationship.”

JIJI Press