Prime Minister Shinzo Abe held the first meeting of the Headquarters for Japan's Economic Revitalization at the Prime Minister's Office.

The Headquarters for Japan's Economic Revitalization is established under the Cabinet as a "control tower" assuming the role of planning and comprehensively coordinating necessary economic measures, with an aim to take these necessary measures and to realize the growth strategy with the entire government uniting efforts, in order to overcome deflation and yen appreciation as well as to restore a strong economy, under cooperation with the Council on Economic and Fiscal Policy, for reviving the Japanese economy.

At this meeting, the "Holding of the Meeting on Industrial Competitiveness Council" was decided, and the urgent economic countermeasures (draft outline) were discussed.

Based on the discussion, the Prime Minister said,

"I believe that efforts to break out of the deflation that has lasted for more than ten years are a dramatic effort in the history of humankind. In addition, in the course of overcoming yen appreciation and deflation, we must work with the 'three prongs,' namely, bold monetary policy, flexible public finance policy, and a growth strategy that encourages private sector investment.
The "Economic Measures," which Mr. Akira Amari, Minister in charge of Economic Revitalization, explained the outline of shortly before, is the first series of such efforts taken by the new administration for reviving the economy. I would like the solid measures to be compiled by around the 11th (Friday).
I would like to ask Mr. Taro Aso, Minister of Finance, for the early compilation of the supplementary budget based on these measures.
Also in the Council on Industrial Competitiveness, which was decided to be established here today, I would like to set the goal of formulating an ambitious growth strategy by around the middle of this year.
I call for Mr. Akira Amari, Minister in charge of Economic Revitalization, and all ministers who are the members of this Headquarters, to cooperate in these efforts as the top prioritized issue for the administration.
I would like to ask Ms. Tomomi Inada, Minister of State for Regulatory Reform, for the prompt establishment of the new Regulatory Reform Council, and under collaboration and cooperation with the Headquarters for Japan's Economic Revitalization, to actively review regulations from the perspective of contributing in economic revival and establish a mechanism in which possible measures are put into practice.
I would like to ask Mr. Ichita Yamamoto, Minister of State for Science and Technology Policy, to create a system for promoting cross-sectional policy measures on innovation beyond the borders of ministries and agencies, through close collaboration between the this Headquarters and the Council for Science and Technology Policy."