The Power to Compete: An Economist and an Entrepreneur on Revitalizing Japan in the Global Economy

Chapter 1The Power to Innovate

Japan Again

Hiroshi Mikitani (“Hiroshi”):

Let's talk about the theme of these conversations. I want to talk to you about why the Japanese economy has seen such persistent stagnation, and what we should do to revive it. But first, how are you feeling? How is your health?

Professor Emeritus Ryoichi Mikitani (“Ryoichi”):

Oh, it's all right, I suppose. I'm in a relatively good shape. I'm really happy that I can talk with you about the Japanese economy like this. I'm looking forward to it.

Hiroshi:

For the past half a year [early 2013], I have been serving as a member of the Industrial Competitiveness Council, one of the three Abenomics control towers, and I have been participating in the debate there on Japanese economic growth. We announced our compiled growth strategy in June 2013. At that time, I also created a document, as best I could, to serve as a starting point for discussion—a proposal that I called “Japan Again.” In that proposal, I wrote from my perspective as a business leader about what sort of growth strategy I would create if it were all up to me.

Ryoichi:

It must have been quite a lot of work. I saw the news on television and read about it in the newspapers with great interest.

Hiroshi:

Prime Minister Abe's original idea was that there would be four members on the council from the private sector, but in the end a total of ten were appointed. I have the suspicion that behind this was an intention on the part of the government bureaucracy ...