At the same time, firms have been making plans for development of new high value-added products and services by increasing research and development investment. Moreover, firms have been taking various measures that reflect demographic changes and tight labor market conditions, on which I now would like to elaborate using five examples. The first is effective use of employees through initiatives including working-style reforms.
In Japan, inefficiency borne from the lack of streamlining and the practice of working long hours are common; in my view, there is still considerable room to enhance work efficiency through such initiatives. The second is women's participation in the economy.