September 17, 2019
The Ministry of Economy, Trade and Industry (METI) established a new body called the “Growth Strategy Committee of the Industrial Structure Council,” aiming to hold discussions on ideal approaches to corporate structures and management, jobs, and the government and its policies in the era of the Fourth Industrial Revolution, and the council will hold its first meeting on September 17, 2019.
Overview of this effort
The Action Plan of the Growth Strategy, which was approved by the Cabinet on June 21, 2019, points out that “In the new Reiwa era, Japan should take advantage of the potential in new general-purpose technologies derived from the fourth industrial revolution to the maximum extent possible and should lead the results to production improvement and economic growth. To these ends, Japan needs to reconstruct the entire system of economic society, including ideal approaches to corporate structures and specifics of and approaches to jobs on an individual basis.”
In light of this point, METI established a new body called “Growth Strategy Committee” under the Industrial Structure Council to hold discussions on the following: future directions of innovative changes in corporate structures and management as well as workers that are tailored to the Fourth Industrial Revolution; raising selling price through enhancing customer value provided by Japanese companies; raising markup rates of Japanese companies by their creation of new value added; and policy challenges in improving labor productivity based on the above-mentioned elements.
Division in Charge
Industrial Structure Policy Division, Economic and Industrial Policy Bureau