Although a package of reforms finalized by a key government panel on Friday may point Japan's economic and fiscal systems in the right direction in the long term, pundits are skeptical whether it can deliver the boost of confidence necessary now.
The second round of "big boned" reform policies compiled by the Council on Economic and Fiscal Policy contains measures including the creation of special economic zones.
Once implemented, the policies should have a positive impact on the economy in the mid- to long-term, said Nobuhiro Okuyama, research manager at Mitsubishi Research Institute.