Prime Minister Shinzo Abe held the first meeting of the Industrial Competitiveness Council at the Prime Minister's Office.

The Industrial Competitiveness Council is held under the Headquarters for Japan's Economic Revitalization, with an aim to research and discuss issues such as specifically giving shape to and promoting the growth strategy for the strengthening of the competitiveness of industries in Japan and the international expansion of industries.

Discussion took place on giving specific shape to and promoting the growth strategy.

Based on the discussion, the Prime Minister said,

"Today, active discussion took place in the first time of the meeting. I was listening to the discussion and confirmed the depth of the frustration the members are feeling.
The mission imposed on the Abe administration is to restore a strong economy. The basic policy thereof is to shift from redistribution against a backdrop of diminishing equilibrium to the creation of wealth through growth. In order to achieve this, we must break out of deflation, correct excessive yen appreciation, and get Japan on the strong path to growth. In this context, I am referring to the "three prongs." Regarding flexible public spending, the other day we formulated a supplementary budget of 13 trillion yen, which is of the largest scale in history aside from that under the state of emergency after the Lehman Shock. I believe this was a groundbreaking budget beyond the usual thinking of the Ministry of Finance.
And then, yesterday, the government issued a joint statement with the Bank of Japan. This joint statement fundamentally changes the monetary policies until now. We were also able to mark an important step in terms of the relationship between the Bank of Japan and the government, precisely towards the regime change. We realized what was said to be impossible.
Now, we have the third prong, the growth strategy. I believe that putting into shape this growth strategy should lead to the sustainable economic growth of Japan. Through the discussion today, important issues that must be immediately addressed by the government upon promoting the growth strategy are being highlighted. However, naturally, as you have discussed today, this does not necessarily mean that we had not been discussing the issues earlier. Therefore, I believe that we must reaffirm that it is truly up to the decisions and commitment of us sitting on this side, and that even making a single significant action is important rather than giving hundreds of words. As for the urgent and important issues identified in this Council, we would like to take actions in rapid succession, without waiting for the strategy to be compiled.
I would also like to discuss with Mr. Akira Amari, Minister in charge of Economic Revitalization, to hold the Headquarters for Japan's Economic Revitalization in the near future, to make appropriate instructions to relevant Cabinet members and to unite the efforts of the government.

Upon formulating the growth strategy, we must decisively approach difficult issues and make decisions. After thorough discussions are carried out, I would like to make the ultimate decision myself.

What is now being required is the speed and implementation of realizing the policies. Realizing the policies in sequence will lead to growth. I would like to restore a "strong economy" and a "strong Japan" with the public and private sectors working together. I would like to aim for being number one in the world, without being tied to discussions in the past, and would like to ask for your cooperation."