Today, with the continuing correction of the yen from its excessive rise and the Japanese stock market recovering levels not seen since before the collapse of Lehman Brothers, Japan is filled with a sense that economic recovery is on the horizon. Participation in the Trans-Pacific Partnership (TPP) is fueling expectations not only of a boost in the nation's GDP but also of a further deepening of Japan's alliance with the United States and stabilization of the Asia-Pacific region. The country's participation in drawing up the region's trade rules has great significance in terms of Japan playing a leadership role in future economic partnership agreements. It is expected that TPP participation will enable a high level of liberalization for trade and investment and serve as a springboard for vanquishing the issues and problems that encumber the nation's industries.

Through participation in economic partnerships, trade and investment activities with the emerging economies will be further activated, and as those countries confront unprecedented urgency to improve their infrastructures, plans are being drawn up for large-scale projects such as high-speed railway systems and nuclear power plants. In recent years, requirements from host countries are becoming increasingly diverse and complex, calling not merely for supply of equipment but also for provision of financing and facility operation and maintenance subsequent to delivery. Also, competition is becoming ever more intense not only against other developed nations but even against some emerging countries that are catching up with robust speed, putting established companies in confrontation with new business models of competitors arriving on the scene in rapid succession.

Creating advanced infrastructure systems of enormous scale requires the coordinated integration of diverse elements — and this is an aspect in which Japan has strength. Japan is also developing new business models by integrating knowhow (project finance, facility operation and maintenance, staffing, etc.) and exportation of equipment as a package through cooperation between the public and private sectors to respond to requirements from host countries whose demands cannot be satisfied with a "single-faceted" approach.

Companies are called on to make continuous efforts in innovation, but face an array of challenges when transforming innovations into products or turning innovations into viable businesses. Consider the MRJ passenger jet currently under development by MHI. Development is presently moving forward at a brisk pace toward commencement of test flights, and we are receiving support from the public and private sectors for pursuing mass production and providing sales financing once development is completed. The aircraft industry is broad-based and has vast ripple effects on the economy. To play a role in the sustained growth of the Japanese economy, we will gather together Japan's wisdom and drive forward toward the success of this business.