Prime Minister Shinzo Abe's government promised Tuesday to bolster the "earning power" of Japanese companies by cutting the corporate tax rate and promoting deregulation in highly protected industries such as health care and agriculture.
In the outline of its revised economic growth strategy to be finalized later this month, the government also pledged that it will take steps to encourage companies to share their profits with society.
A draft of the strategy is expected to be released on Monday, while that of the government's new economic and fiscal policy blueprint for fiscal 2015 is likely to be mapped out on Friday, government officials said. Abe's Cabinet plans to approve them on June 27 after consultations with the ruling parties.