September 17, 2010

JAMA Comments on the Restructured Kan Cabinet

Toshiyuki Shiga, Chairman


Noting the inauguration today of the restructured Cabinet under Prime Minister Naoto Kan, JAMA hopes that this new leadership team will act swiftly to introduce additional economic measures promoting the recently-announced new growth strategies. Within this process, we look forward to deeper dialogue with the opposition parties and other key figures in a comprehensive drive to bring about economic and social stability and thereby alleviate the nation’s current anxiety over its future.

Japan’s foreign exchange intervention of two days ago, reflecting the government’s adoption of a strong stance on yen appreciation, was encouraging. We hope the administration will continue to work closely with the Bank of Japan in the formulation of effective measures to address this and other key financial concerns.

JAMA would also like to see real progress made towards a reduction in Japan’s corporate tax rate, as well as the adoption of further measures in support of eco-friendly vehicles and other environmentally-responsible technologies. Meanwhile, we continue to call for changes to Japan’s automobile tax regimen in order to reduce its burden on vehicle users—a goal which was, moreover, a feature of the ruling Democratic Party of Japan’s electoral platform.