Economic package to ease inflation pain, spur wage growth: Japan PM

Prime Minister Fumio Kishida said Monday that his government’s new economic package will seek to navigate the economy through a cost-of-living crisis to achieve long-term growth as part of his plans to redistribute wealth in Japan with pay hikes and other similar measures.

The package, which will also seek to address demographic challenges and rev up the chip sector, will be compiled in October, and a supplementary budget will be formed to fund it. Kishida said he will formally instruct his ministers to step up work for drawing up the measures on Tuesday.

The package has five pillars -- easing...