Reappointed Economy Minister Takeo Hiranuma said a comprehensive approach of combining the disposal of problem loans and assets, creating new businesses and implementing regulatory reforms is needed to revitalize the economy.
"One of the key issues is disposing of problem loans and assets in the financial and industrial sectors," the 61-year-old minister of economy, trade and industry said. "It is also necessary to create new businesses and steadily implement an action plan (for regulatory reforms)."
He said the ministry will continue assisting the industrial sector to cope with problematic assets such as excessive facilities, while carrying out regulatory reforms to encourage new enterprises in fields such as information technology and medicine, Hiranuma said.