Mitsubishi Corp Chairman Yorihiko Kojima said on Wednesday that Japan's economic reform agenda could, if successful, pave the way for the company's expansion in the country's energy sector.
A sweeping economic policy overhaul by Prime Minister Shinzo Abe aimed at pulling the world's third largest economy out of a 15-year deflationary period - a policy dubbed " Abenomics" - has succeeded in building market optimism, he said."The challenge now is converting this positive sentiment into genuine improvements in the real economy," he said at a luncheon sponsored by Boston College's Chief Executives' Club of Boston.
"This is related to the government regulations, therefore we are always communicating," he said, referring to Mitsubishi's interest in expanding its energy business in Japan.
Since taking office in December, Prime Minister Abe and the Bank of Japan have gambled on massive fiscal and monetary stimulus to spark life in the economy, and signs of an upswing are accumulating.
But pessimists have argued that the benefits of "Abenomics" may be short-lived and will not prompt companies to spend more on investment and wages, unless they are accompanied by a raft of structural reforms like tax cuts and changes to labor laws.
Mitsubishi Corp is a multinational Japanese company covering finance, banking, machinery, chemicals, food and energy businesses. It employs about 60,000 people in approximately 90 countries and is part of the Mitsubishi Group of Companies, best known in the United States for its automobile brand.
NewsOnJapan
"This is related to the government regulations, therefore we are always communicating," he said, referring to Mitsubishi's interest in expanding its energy business in Japan.
Since taking office in December, Prime Minister Abe and the Bank of Japan have gambled on massive fiscal and monetary stimulus to spark life in the economy, and signs of an upswing are accumulating.
But pessimists have argued that the benefits of "Abenomics" may be short-lived and will not prompt companies to spend more on investment and wages, unless they are accompanied by a raft of structural reforms like tax cuts and changes to labor laws.
Mitsubishi Corp is a multinational Japanese company covering finance, banking, machinery, chemicals, food and energy businesses. It employs about 60,000 people in approximately 90 countries and is part of the Mitsubishi Group of Companies, best known in the United States for its automobile brand.
NewsOnJapan
