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Exclusive - Abe growth plan draft pledges wide-ranging reforms

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Reuters TOKYO
Last Updated : Jun 02 2014 | 7:16 PM IST

By Takaya Yamaguchi

TOKYO (Reuters) - Japan's government will adopt a new corporate governance code, promote technology from service-sector robots to hydrogen stations for cars and court private investment for infrastructure, according to a draft plan of Prime Minister Shinzo Abe's growth strategy.

Those measures and dozens of others aimed at boosting Japan's growth after a decade and a half of deflation are outlined in a 60-page draft plan that will form the basis of Abe's "third arrow" reform update due to be announced later this month.

Reuters reviewed an early-stage draft of the government's growth plan, which has not been made public.

The document does not detail plans for cutting Japan's corporate tax rate or reforming the nation's public pension system, two of the most closely watched policy measures for investors.

But the plan includes a raft of broad commitments aimed at reshaping key aspects of Japan's economy, from supporting venture capital to encouraging the promotion of women and the appointment of outside corporate directors at banks.

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(Editing by Kevin Krolicki and Edmund Klamann)

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First Published: Jun 02 2014 | 6:29 PM IST

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