Japan auto business bodies to set up fund to support struggling firms

Leaders of four business bodies in the auto industry in Japan said Friday they will set up a new fund to support manufacturers in the auto sector struggling with slumping demand caused by the coronavirus outbreak.The fund is designed to "mutually help struggling manufacturers," Akio Toyoda, chairman of the Japan Automobile Manufacturers Association, told reporters in an online press conference, suggesting that larger and healthier members will provide funding to smaller or ailing ones."Protecting employment is a powerful force to help stop the collapse of the economy," said Toyoda, presiden…READ FULL ARTICLE