Keidanren Vows to Lead Efforts to Bolster Domestic Supply Chains

Karuizawa, Nagano Pref., July 24 (Jiji Press)–The Japan Business Federation, or Keidanren, vowed to lead efforts to strengthen domestic supply chains, in a document adopted on Friday to wrap up its summer seminar in the resort town of Karuizawa, Nagano Prefecture, central Japan. Keidanren will shortly submit the document to Prime Minister Sanae Takaichi. To achieve its target of increasing domestic equipment investment by the private sector to 250 trillion yen by fiscal 2040, the document calls for strategically maintaining technologies and production bases in Japan and bringing them back to the country. At a press conference on Friday, Keidanren Chairman Yoshinobu Tsutsui expressed the group’s eagerness to “create domestic demand” through active investment. Tsutsui noted that so-called physical artificial intelligence, or the use of AI to control robots, is “a candidate to break down the obstacle of labor supply constraints.” In a video message to the seminar, Takaichi said she was “confident in and looking forward to working together to realize a strong economy through public-private collaboration.” END [Copyright The Jiji Press, Ltd.]