Policy Proposals  Comprehensive Strategy   Approaches to Current Issues ( November 2016 )

November 7, 2016

1. Toward a GDP 600 trillion-yen economy

A key step in realizing a GDP 600 trillion-yen economy and re-accelerating Abenomics is evaluating and reviewing the growth strategy and monetary and fiscal policies that have been pursued thus far. On that basis, Keidanren will work to contribute to the materialization and implementation of the "Public-Private Strategic Project 10" that is included in the Japan Revitalization Strategy 2016 and address the reform of working styles and other important policy issues, through participation in discussions at major government meetings.

2. Spring Labor Negotiations

With many companies in business conditions different from those that have prevailed over the past three years, the momentum of wage increases that have continued for three years since 2014 needs to be maintained next year as well, as part of efforts to escape deflation and achieve continuous economic growth. Wage increases on an annual income basis will again be an important subject of discussion next year at companies that have seen an increase in profits.

3. Realization of "Society 5.0"

We will achieve a "super smart society," known as "Society 5.0," which seeks to bring about a revolution in productivity and solve social issues through the use of the Internet of Things, robots, artificial intelligence, and big data. In order to do so, we will encourage capital investment in fields that show promise of growth in the future, the expansion of investment in research and development, and open innovation with universities, venture companies, and other such organizations.

4. Global Warming and Energy

In addition to seeking to ensure that procedures for the ratification of the Paris Agreement are promptly pursued, we will contribute to developing international rules aimed at reducing greenhouse gas emissions on a global scale, through activities such as sharing the experiences of voluntary initiatives in the business community with the rest of the world. We oppose the domestic introduction of regulatory policies such as new taxation or emissions trading systems, as it in fact impedes efforts to reduce emissions. In order to achieve the stable supply of electricity at economically-efficient rates, we will expedite the resumption of operations of nuclear power plants with the fundamental prerequisite that safety will be ensured.

5. Recruitment and Selection Activities

With regard to the "Guidelines on Recruitment and Selection" of recruits to enter companies from 2019 onward, we will consider necessary revisions to the guidelines, including revisions to the dates of commencing activities, and promptly determine the measures to be taken. As we do so, we will take into account factors such as impact on academic studies and the actual conditions of company activities.

6. Promotion of Participation of Diverse Human Resources and Reform of Working Styles

In order to seek to utilize diverse human resources, we will continue to further the "Action Plan on Women's Active Participation in the Workforce," as well as making efforts to promote the active participation of older people. In addition to enhancing initiatives such as those aimed at rectifying long working hours, we will also consider what are appropriate regulations for upper limits on working hours, both from the perspective of protecting workers and from that of maintaining the continuity of work. With regard to equal pay for equal work, we will give sufficient consideration to Japan's employment practices and draw on this to pursue discussions in greater depth, as well as investing efforts toward improving the treatment of non-regular employees, such as efforts to ensure that non-regular employees are given opportunities to switch to regular employment.

7. Economic Relations with Countries in Asia

In order to further strengthen and develop the close, mutually-beneficial relationships between Japan and Asian countries, it is essential to stimulate exchange at all levels and in all fields, including politics, diplomacy, and economics. Keidanren will also engage in facilitating friendly and cooperative relations through policy dialogues with the public and private sector leaders in countries around the region, including the Japan-China CEO and former senior officials meeting, the India-Japan Business Leaders Forum, and the Japan-China-ROK Business Summit.

8. Economic Relations with the United States, Europe, and Russia

The TPP Agreement is essential for strengthening relations with the US, which has recently elected a new government. We will make approaches to ensure that the agreement is approved by the Diet as promptly as possible, thus supporting the domestic processes underway in other participating nations. In addition to calling for general agreement on the Japan-EU EPA within the year, we will seek understanding from the UK and the EU regarding the concerns of Japanese companies related to the UK's withdrawal from the EU. We will actively participate in materializing an eight-point plan for cooperation with Russia, as well as working toward even closer and deeper cooperation between the public and private sectors of the two countries.

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