Japanese Prime Minister Yoshihiko Kishida has hinted at a policy shift

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By removing a growth strategy panel and replacing it with a more gender-balanced body tasked with fomenting a “new type of capitalism,” Japanese Prime Minister Fumio Kishida has signaled his intention to change economic policy freshen up the ruling party’s image. According to a Cabinet Office statement issued on Friday, the new panel is tasked with generating a virtuous circle of growth and distribution and a new post-pandemic society (Oct 15).
Mr. Kishida emphasizes the significance of more evenly dividing the advantages of prosperity, a subject he thinks will strengthen support for the ruling party ahead of a general election at the end of the month. Corporate earnings, according to the newly elected Premier, should be shared more widely. Mr. Kishida also made nearly half of the 15 expert members of the panel women, presumably to set himself apart from previous Liberal Democratic Party presidents. Only a quarter of the specialists on the growth council were female.
Ken Shibusawa, the chairman of Commons Asset Management and the great-great-grandson of Japanese capitalism pioneer Eiichi Shibusawa, who built the country’s first bank and stock exchange, is among the new panel members.
The panel will also discuss a change to the way quarterly profit reports are disclosed. Mr. Haruka Mera, the 33-year-old CEO of crowdfunding platform provider READY FOR, is also on the panel. Yumiko Murakami, a general partner of MPower Partners Fund, a venture capital fund focused on environmental, social, and governance investments that she co-founded with Kathy Matsui, a former vice-chairman of Goldman Sachs, is one of them.

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