Kishida Govt to Start Discussions on New Capitalism Soon

Politics

Tokyo, Oct. 15 (Jiji Press)--The Japanese government said Friday that it will launch a panel to discuss a new form of capitalism, a key policy platform of Prime Minister Fumio Kishida, aiming to realize a series of measures proposed by the new leader of the country.

The panel, which is expected to hold its first meeting Oct. 26, is seen focusing on the creation of a virtuous cycle of economic growth and wealth distribution, and the development of a new society after the COVID-19 pandemic is brought under control.

Discussions at the panel will be reflected in economic measures that Kishida, who took office Oct. 4, plans to compile if the ruling bloc, led by his Liberal Democratic Party, wins the Oct. 31 general election for the House of Representatives, the all-important lower chamber of the Diet, Japan's parliament. The panel would draw up specific measures by spring next year.

The panel, headed by Kishida, will comprise related ministers and 15 representatives from the private sector, including Masakazu Tokura, chairman of the Japan Business Federation (Keidanren), the country's biggest business lobby, Kentaro Kawabe, president of Z Holdings Corp. <4689>, the parent of internet portal Yahoo Japan Corp., and Shibusawa and Co. executive Ken Shibusawa, a descendant of the late Japanese industrialist Eiichi Shibusawa, a portrait of whom will be used for the country's new 10,000-yen bill, seen to be distributed from the first half of fiscal 2024.

Seven of the private-sector members are women, among them Tomoko Yoshino, who recently became president of the Japanese Trade Union Confederation, or Rengo.

[Copyright The Jiji Press, Ltd.]

Jiji Press