Japanese Biz Leader Praises Ishiba's Economic Policy Stance

Sendai, Miyagi Pref., Oct. 2 (Jiji Press)--Japanese business leader Masakazu Tokura on Wednesday praised new Prime Minister Shigeru Ishiba's plan to focus on pulling the country's economy fully out of a deflationary state.

"It's very reasonable and reassuring," Tokura, chairman of the Japan Business Federation, or Keidanren, told a press conference in Sendai, Miyagi Prefecture, northeastern Japan, referring to Ishiba's economic and fiscal policy stance announced at his inaugural press conference on Tuesday.

Tokura said that Ishiba has shown a positive attitude toward stimulating investment and promoting wage increases to resolve social challenges.

"We're grateful that he will uphold the policy of the administration of (former Prime Minister Fumio) Kishida," he said.

Tokura said that Ishiba's goal of raising the average national minimum wage to 1,500 yen per hour during this decade, instead of by the mid-2030s as was proposed by Kishida, would require "a significant rate" of increase.

[Copyright The Jiji Press, Ltd.]