The business community has urged Prime Minister Shinzo Abe to pursue economic and fiscal policy reforms under a stable government, following the ruling coalition's victory in Sunday's House of Councilors election.
"Economic growth and fiscal rehabilitation are issues that should be achieved simultaneously," said Yoshimitsu Kobayashi, chairman of the Japan Association of Corporate Executives, adding he hopes Abe will pursue "reforms accompanied by public pain," which can be attained only by "a long-term stable administration."
Amid a rapidly aging population and declining birthrate in Japan, Kobayashi urged Abe to accelerate reforms in order to secure the "stable resources" needed for sustainable social security and fiscal policies.