As part of its growth strategy, the administration plans to introduce a set of tax breaks to encourage companies to purchase new equipment and help hospitals and inns make their buildings more resilient to earthquakes.
By also taking measures to bolster Japan's industrial competitiveness, such as regulatory reforms, Prime Minister Shinzo Abe will try to encourage industrial reorganization, considered key to revitalizing the deflation-mired economy, administration officials said Thursday.
The Liberal Democratic Party and New Komeito started to flesh out the details of the tax breaks at a meeting of their tax panel Thursday, confirming they will finalize tax reform policies, focusing on the growth strategy, at the end of next month.