Japan Biz World Backs Coronavirus Emergency Declaration

Economy

Tokyo, April 7 (Jiji Press)--The Japanese business world on Tuesday threw its full support behind Prime Minister Shinzo Abe's declaration of a state of emergency over the new coronavirus outbreak.

"The government has made a big decision, and we take it seriously," said Hiroaki Nakanishi, chairman of the Japan Business Federation, or Keidanren. "We'll fully support and comply with requests and instructions from the central and local governments in order to end this crisis."

The Japan Association of Corporate Executives, or Keizai Doyukai, and the Japan Chamber of Commerce and Industry also expressed support for the government's decision.

The business world will cooperate by beefing up teleworking systems and through other methods. Companies supporting basic infrastructure for daily lives, including electric, gas and financial service providers, as well as supermarkets, are preparing to continue their operations.

Meanwhile, concerns are mounting that restrictions placed under the declaration will seriously harm the economy by causing a slump in consumption. An estimate puts the possible economic loss at 5.7 trillion yen.

[Copyright The Jiji Press, Ltd.]

Jiji Press