Manifest for a Market-Oriented Economy
Action Program for Japan toward the 21st Century

January 9, 1997

Koichi Minaguchi
Chairman,
Advisory Committee for the Chairman
(Vice Chairman and President, Keizai Doyukai)

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Introduction

Part 1. Our Basic Ideals

1. The Three Basic Ideals
   1. Activation of Market Functions and Emphasis of Market Rules
   2. Reaffirmation of the Division of Roles between the Individual, the Corporate Sector, and the Government
   3. Globalization
2. The Principles of Action for Structural Reform
   1. Comprehensive Reform
   2. Target Date 2000
   3. Clear Priorities

Part 2. Action Program for Structural Reform

1. Enhancing Market Functions: Correcting the Domestic-Foreign Price Gap
   1. Lowering Prices
   2. Increasing Freedom of Choice in Business Management
   3. Expanding and Improving Market-Monitoring Mechanisms and Disclosure of Information
2. Realizing Small Government: Keeping the Burden under Control
   1. Reducing Public Expenditures
   2. Reforming the Taxation System

Part 3. The Corporate and Management Role in Strucutual Reform

1. Establishing Self-Disciplined Corporate Behavior Based on Market Principles
2. Establishing Managerial Leadership and Systems of Internal Monitoring
3. Corporate Reform in the Areas of Personnel Management and Employment Conclusion

Japanese version