2024.10.18

A Statement from JANE Representative Director Mickey Mikitani Regarding Prime Minister Ishiba’s Newly Formed Cabinet

 
October 1, 2024
Japan Association of New Economy (JANE)
Representative Director
Mickey Mikitani
 

1. Prime Minister Ishiba’s new cabinet was formed on October 1, 2024, and a decision has been made to dissolve the House of Representatives and conduct a snap election. The future of Japan depends on our country’s economic growth and the advancement of our industries. We have high hopes for a decisive government that will lead the way in implementing bold regulatory changes and other necessary structural reforms, without bending to vested interests.
 
2. The Japan Association of New Economy (JANE) has issued recommendations on a range of economic and social issues (see “Reference 1”). We will continue to advocate for their realization to the new administration.
 
3. Furthermore, during the recent Liberal Democratic Party and Constitutional Democratic Party of Japan presidential election, we submitted an open questionnaire (“Reference 2”) to all the candidates. We sincerely hope that the issues raised in the questionnaire will invoke active policy debate among the parties during the coming election and beyond. 
 
Reference 1
JANE’s recent policy proposals
1. General basic policies
 
2. Individual measures
(Overview of key items)
– Reduction of corporate tax, income tax and inheritance tax rates 
– Revision and strengthening of financial resources for regional areas 
– Creation of tax system to promote the development and utilization of artificial intelligence (AI) 
– Revision of tax system for attracting talent, knowledge and capital from around the world to Japan
– Revision of tax system to accommodate the software-based economy
– Adaption to cross-border business 
– Revision of tax system and implementation of innovation in the research & development area
– Strengthening of tax system to promote wage increases
– Revision of tax system to accommodate new workstyles
– Implementation of tax system to accelerate Green Transformation (GX)
– Implementation of tax system for crypto assets 
– Establishment of tax breaks for socially responsible investments
– Revisions of tax system for donations 
– Promotion of investment and revision of compensation system for startups
– Expansion of tax system to promote educational investments by corporations 
– Streamlining of tax payment systems to strengthen management capabilities of small and medium-sized enterprises and small businesses
– Expanded usage of digital invoicing 
 
(2) ”Regulatory Reform Proposals for 2024”  (September 13, 2024)
(Overview of key items)
63 proposals were made, including 
– Abolition of ride share restrictions
– Revision of Labor Standards Act 
– Lifting the ban on pre-assignment interviews for temporary workers 
– Legalization of cryptocurrency exchange-traded funds (ETFs)
– Removal of barriers to telemedicine
– Revision of the pharmaceutical sales system 
– Abolition of seals for standard-sized cars and other automobiles
 
Reference 2

Proposals/News