Business leaders in Japan welcomed Prime Minister Fumio Kishida's ruling coalition securing an increased Upper House majority on Sunday, while expressing hope that the prime minister will swiftly deal with various issues of concern.
Kengo Sakurada, chairman of the Japan Association of Corporate Executives, said the election result for the ruling Liberal Democratic Party and its coalition partner Komeito provides the political stability required to address the challenging economic and international political situations the nation currently faces.
"We take this election result as the people choosing stability and we welcome the results," Sakurada, who represents the organization also known as Keizai Doyukai, said in a statement.
The LDP and Komeito secured 76 seats of 125 seats up for grabs, expanding their majority in the 248-member House of Councilors.
The LDP pledged in the election to take flexible measures to counter the rising prices of goods and energy while increasing investment in human capital and ensuring economic growth followed by fiscal restoration.
Akio Mimura, chairman of the Japan Chamber of Commerce and Industry, said his organization hopes Kishida will strengthen support for small and midsize companies and local economies, while calling on the government to ensure stable energy supplies after Tokyo faced a power crunch recently.
Sakurada added that this election bears "significant meaning" as voters expressed their will at a time when the country remains in mourning after the recent murder of former Prime Minister Shinzo Abe.
Abe was killed by a gunman during a stump speech two days before the election. Sakurada said the former leader's desire to boost economic growth by promoting investment and innovation, as well as raising Japan's presence in the diplomatic arena, is needed now "more than ever."