Japan plans tax breaks to achieve economic security, wage growth

The government is considering offering tax breaks for companies that invest in strategically important sectors such as semiconductors and storage batteries, in a push to boost Japan’s growth potential and ensure economic security, according to an outline unveiled Wednesday.

Alongside the plan, the government is also considering expanding tax reduction measures for small and midsize companies that have lagged behind larger firms in raising pay, which would be in line with Prime Minister Fumio Kishida’s push to increase wealth redistribution.

The envisaged changes are part of government efforts ...