Prime Minister Shigeru Ishiba is set to leave office with a number of economic achievements to his name: nominal gross domestic product topping ¥600 trillion ($3.97 trillion) for the first time, capital investment at a record ¥110 trillion and the Nikkei 225 stock index gaining more than 20% over the past year.
“The good cycle of growth and distribution has begun to take hold,” Ishiba proclaimed at his administration’s final economic policy meeting on Oct. 3.
“Now is the time to solidify the strength of this growing economy. We must ensure wages keep pace with rising prices, and build an economic society where real wages rise by around 1% annually as a matter of course.”
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