And, in the private sector, we can observe some signs of future changes such as the increase in business affiliations and mergers and the review of business areas. By promoting structural change, the Japanese economy will undoubtedly exhibit the potential to transform itself into an economy with vitality and high productivity.
In coming up with specific supply-side prescriptions, cooperation between the private sector and the government is essential in discussing such problems as how to guide incentives for firms and households in a desirable direction and how to minimize moral hazard. I sincerely hope that my speech today will contribute to discussion on the very important problem of structural reform.