Japan Press Weekly

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2011 August 31 - September 6 TOP3 [POLITICS]

New PM rushes into honeymoon with business community

The “honeymoon” period between the newly appointed prime minister and business leaders has already started, though he has not yet finished selecting ministers for his Cabinet.

On September 1, newly-elected Prime Minister Noda Yoshihiko visited the Japan Business Federation (Nippon Keidanren), the Japan Chamber of Commerce and Industry, and the Japan Association of Corporate Executives (Keizai Doyukai).

Noda said to Keidanren Chair Yonekura Hiromasa, “I will carry out economic measures constantly. I also want to ask for financial circles’ cooperation.” Yonekura replied, “Keidanren will fully cooperate with you.”

The business world offered effusive compliments to Noda when he was elected as a new Democratic Party of Japan president: “A political leader with stability and energy” (Keidanren Chair Yonekura), “The coming of a fresh leader” (Doyukai Chair Hasegawa Yasuchika).

They are busy making demands on Noda. Keizai Doyukai in its statement issued on August 30 called on a new government to respond to its policy priorities, such as immediate participation in negotiations for the Trans-Pacific Partnership (TPP) Agreement, restart of nuclear power plants after confirming their safety, and reform of taxation and social welfare system. It also urged Noda to “secure the cooperation of opposition parties.”

It is necessary to keep cautious eye on Noda who is likely to accelerate the pace of implementing policies pandering to the business community.