The Japanese economy
I will work harder to revive the Japanese economy to such an extent that all the people can feel the country will have escaped years of deflation and kept growing.
Political leaders, government officials and businesses need to do all we can do to ensure the second round of the positive economic cycle. The Administration is required to carry out drastic reform and implement policies so that Japanese and foreign companies can pursue various business opportunities without unreasonable restrictions in the domestic market. In this context, the recent decision on effective corporate tax rate cut and the package of emergency economic measures was a giant leap. Remaining key issues such as energy mix decision and deregulation need immediate action.
What matters to Japanese companies is determination to walk away from deeply rooted deflation-oriented mindset and willingness to take more risks. Under these circumstances, risk takers will do better in business gaining more profits, expanding capital spending and increasing R & D investment, resulting in job increase and pay raise. Success of the second positive cycle of the economy will heavily depend on what businesses do.