Statement by Kengo Sakurada, Chairman of Keizai Doyukai
on Launch of New Cabinet Led by Prime Minister Kishida

October 4, 2021

Kengo Sakurada
Chairman, Keizai Doyukai

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1. Prime Minister Kishida has launched his new cabinet today. The lineup of the cabinet members has focused on the diversity in all aspects such as experience, age, and gender. This is a factor indispensable for the new cabinet to resolve Japan's structural issues, in a way considering the realities surrounding the public and society.
2. Robust handling of the key issues such as fiscal consolidation, social security, and energy policies is the premise of Japan's sustainable growth. How will the Kishida cabinet address these issues awaiting responses in short and in medium to long term? We must see cabinet's consensus soon for its goal and a path in reaching the goal. Meanwhile, we will watch with a hope how a new government policy implementation system and a new centralized mechanism will have effective inter-ministerial functions for promotion of digitalization, economic security, and policies for children (setting up the Children's Agency).
3. The current pressing issue is the containment of COVID-19. After the long fight against the pandemic, we are finally seeing a light amid the restart of the economic and social activities. To continue this forward movement, we request the new government to take seamless measures such as for higher vaccination ratio and more robust healthcare delivery system, by pushing ahead with necessary amendment of laws and change of rules.
4. The private sector is a driving force of economic growth. We need the government's supplemental economic package with a focus on supporting the private investment, such as through higher productivity and industrial structure transformation, which contributes to the competitive strength in Japan's strategically important fields. Assuming our responsibility for future generations, the package must necessarily incorporate a medium- to long-term mechanism for fiscal consolidation.
5. We are sincerely hoping that the Kishida cabinet will present a vision that liberates Japan's potential and revitalizes the country with a new capitalism, through transformation of economy and society with regulatory reform. Keizai Doyukai will, as stated in its charter, endeavor to apply its members' wisdom and insight to the issues and disseminate its thoughts.

Japanese version