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Japan business chiefs hail ruling bloc win, hope for economic recovery

  • November 1, 2021
  • , Kyodo News , 3:00 a.m.
  • English Press

TOKYO – Japan’s business leaders welcomed the victory of Prime Minister Fumio Kishida’s ruling coalition in Sunday’s lower house election, calling for strong leadership to revive the economy hit by the coronavirus pandemic.

 

Masakazu Tokura, chairman of the Japan Business Federation, said the body hopes the Kishida government will address the economic recovery as the most important issue and restore social and economic activities, while preventing the spread of COVID-19 infections.

 

“I would like the Kishida administration, which has earned the strong confidence of the people, to deliver strong leadership to address many issues in Japan and abroad, and work on them promptly,” Tokura said in a statement.

Tokura, who heads Japan’s most influential business lobby also known as Keidanren, said the challenges also include realizing carbon neutrality by 2050.

 

Kengo Sakurada, chairman of the Japan Association of Corporate Executives, also expressed hope that Kishida would continue his efforts to realize a “new capitalism” that aims to spur growth in the world’s third-largest economy while expanding the middle class through wealth redistribution.

 

“Japan is facing the last chance to turn around the stagnation that it has experienced for many years,” Sakurada said in a statement. “With that understanding, I would like the ruling party to lead bold policy discussions with a medium- to long-term view.”

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