Keizo Obuchi, new president of the ruling Liberal Democratic Party, pledged Friday to make every effort to revive the economy and regain the public's trust in politics.
Speaking at his first news conference as LDP chief, Obuchi said he feels a heavy responsibility for the daunting challenges confronting Japan and his party.
"The biggest challenge for us is to revive our economy. I recognize that Japan plays an important role in the international community, and that Japan's stagnant economy is affecting that of Asia and the rest of the world," Obuchi said. "I will make the utmost effort to bring Japan's economy back on a recovery path."