OHIRA, Miyagi (REUTERS) - Japanese manufacturers are grateful for the government's steps to pull the country out of deflation, Mr Akio Toyoda, the president of Toyota Motor Corp , said on Wednesday.

"The Japanese manufacturing industry is grateful for the government's quick attempt to bring Japan out of deflation that has continued for 20 years," Mr Toyoda told reporters in north-eastern Japan.

The yen, which hovered near record highs against the US dollar last year, has fallen roughly 15 per cent versus the greenback since Mr Shinzo Abe became prime minister in December and pledged to end deflation.