Japanese Government Approves New 39 Trillion Yen Economic Measures

On October 28, the Kishida Cabinet will finalize the following four comprehensive economic measures, and assemble a supplementary budget, to cope with soaring prices and the weak yen: (1) Price hikes and wage increases; (2) Regional recovery utilizing the weak yen; (3) Acceleration of the ‘New Form of Capitalism’; and (4) Ensuring the safety and security of the people.

Shigeyuki Goto to become Minister of Economic Revitalization

Prime Minister Kishida nominated Goto Shigeyuki, former Minister of Health, Labor and Welfare, of the Liberal Democratic Party, to replace former Minister of Economic Revitalization Yamazaki, who resigned on October 25. In addition to his responsibilities as Minister of Economic Revitalization, Mr. Goto will also concurrently hold positions for six other areas, including the ‘New Form of Capitalism’, Start-ups, and others.