Press Conference by Minister Muto (Excerpt)

*Note: This is a provisional translation for reference purposes only.

8:37 to 8:42 a.m.
Friday, February 14, 2025
In front of the Cabinet Room, 2nd floor, National Diet Building

Opening Remarks

None

Question-and-Answer Session

Terminated business integration of Honda and Nissan

Q: Yesterday, Honda and Nissan officially announced that they agreed to terminate their proposed business integration. Could you comment on this matter and the impact that this may have on the domestic automobile industry?

A: Regarding the announcement made by Honda and Nissan to end their talks of business integration, which you asked about, I believe that this was a management decision made by both companies. Accordingly, I would like to refrain from making any comments on this matter on behalf of the government. As I mentioned before, I recognize that going forward, the automobile industry needs to enhance its competitiveness through collaboration in this time of great change right in the very middle of this era of intelligence and electrification, including next-generation mobility. I hope that various positive initiatives will advance, such as collaboration with other players.

Potential partnership between Hon Hai Precision Industry and Nissan

Q: Hon Hai’s Chairman Liu expressed his willingness to collaborate with Nissan and he indicated that he would consider acquiring Nissan’s shares if necessary. How does METI assess the potential partnership between Hon Hai and Nissan? Could you tell us your views on this from the perspective of enhancing the automobile industry and that of economic security?

A: As I mentioned earlier, I am aware of the press coverage, however, I would like to refrain from commenting on the decisions on the business management of individual companies.

If I may speak in general terms, I recognize that international collaboration may lead to accessing the networks and acquiring know-how held by overseas companies, but, at the same time, I know that companies need to be careful about the outflow of their technology outside Japan.

President Trump’s announcement of reciprocal tariffs

Q: The Trump administration has signed a presidential order to execute reciprocal tariffs. Could you offer your thoughts on this matter, too?

A: I am aware of the announcement of reciprocal tariffs made by President Trump which you mentioned. The Government of Japan has already begun communicating with the U.S. government. We would like to address this appropriately to enrich and develop the economic ties between Japan and the U.S. in a way that contributes to Japan’s interests.

Q: I would like to ask you a question regarding reciprocal tariffs. You mentioned that the Government of Japan has already begun communicating with the U.S. government. Would it be correct to understand that Japan has already started making its own approaches to the U.S. because Japan is also subject to these tariffs?

A: We are not sure of the specifics yet, but for now the point is that we started communicating with the U.S. government in the sense that we intend to hear about its stance.

Q: I have a question related to the reciprocal tariffs mentioned now. I understand that the purpose of the announcement made by President Trump today is that the U.S. will basically impose appropriate tariffs against a partner country if that country imposes higher tariff rates on certain products from the U.S. than the U.S. rates imposed on the same products from that country. In this context, please tell me about how you recognize the comparison of current tariffs between Japan and the U.S., for example, whether or not Japan imposes lower tariffs on some products from the U.S.? In addition, this announcement contains the keywords of non-tariff barriers, not just tariff rates. In this context, if the U.S. actually takes some kind of action regarding non-tariff barriers, could you offer your views about the extent of the impact that this may cause on the Japanese industry?

A: As I mentioned earlier, Japan has just started communicating with the U.S. We need to ascertain the specifics soon in any case, and I believe that this approach will start with hearing the stance of the U.S. government.

Through various forms, we should consolidate and enhance Japan-U.S. ties in ways that contribute to Japan’s interests. The key point to understand is that Japan has embarked on such communication amid this situation.