Prime Minister Shinzo Abe on Wednesday revealed his set of structural reforms to boost the economy, ranging from creating special economic zones to easing rules to set up international schools, but failed to impress market players as the Nikkei dropped sharply.
In a speech outlining the third "arrow" of his growth strategy, Abe also set a new goal to boost the country's per capita gross national income by more than ¥1.5 million in 10 years, but left out the details of how to achieve the ambitious target.
The "three arrows" of his economic strategy are "designed to stimulate the private sector's creativity in doing business and start global innovation in Japan," Abe said in his speech at a hotel in Tokyo.