Japan's largest business group on Monday disclosed a new target of increasing domestic corporate capital expenditure to ¥135 trillion ($869 billion) in the fiscal year beginning April 2030 and ¥200 trillion in fiscal 2040.

Masakazu Tokura, chairperson of the Japan Business Federation, or Keidanren, unveiled the target at a joint meeting of the public and private sectors to expand domestic investment, held at the Prime Minister's Office.

Keidanren hopes that the economy will achieve high growth through cooperation between the public and private sectors on investment in the areas of decarbonization and artificial intelligence.