The Japan Federation of Economic Organizations (Keidanren) pledged its "full support" Thursday for Prime Minister Junichiro Koizumi's structural reform initiatives, even if such steps bring a negative impact on the economy.
Keidanren Chairman Takashi Imai conveyed the message to Finance Minister Masajuro Shiokawa at a meeting in which the finance chief explained a reform blueprint being drafted by the government's key economic panel.
The Council on Economic and Fiscal Policy said last week that the country will have to endure low economic growth over the next two to three years during an "intensive adjustment period" for economic revival.