Fujio Mitarai, head of the Japan Business Federation (Nippon Keidanren), urged the government Friday to detail its medium to long-term economic growth strategy at an early date and step up efforts to restore the nation's fiscal health.
It is important to "establish an economic growth strategy and promote tax, fiscal and social welfare reforms in an integral manner," Mitarai, chairman of Japan's most powerful business lobby, said in a New Year's message.
Mitarai, chairman of Canon Inc., also urged the government to take measures to deal with the aging of society.
In late December, the government unveiled a basic growth strategy wish list through 2020, aiming to achieve average annual economic growth of 3 percent in nominal terms by boosting demand in the environmental, health and tourism fields.
Details of the growth strategy are expected to be decided around June.
Leaders of two other top business lobbies also issued New Year's messages urging the government to act to revitalize the economy.
Tadashi Okamura, chairman of the Japan Chamber of Commerce and Industry, called on the government to take steps to stimulate corporate research and development activities and enhance education to try to establish Japan as the world leader in science and technology.
"Japan should set a direction to establish the nation as the world leader in science and technology, and the public and private sectors should cooperate to that end," Okamura said.
Masamitsu Sakurai, chairman of the Japan Association of Corporate Executives, urged the government to promote regulatory reforms and strengthen employment safety nets.
