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On March 7, 2019, Prime Minister Shinzo Abe held the 24th meeting of the Council on Investments for the Future at the Prime Minister’s Office.
 
At the meeting, a discussion was held on mobility and corporate governance.
 
Based on the discussion, the Prime Minister said,
 
“Today, we first discussed mobility, modes of transportation in local communities. Amidst the high dependency on automobiles as a mode of transportation, especially in areas outside major cities, there has been a severe issue of taxi driver shortage. Mobility is a key pillar of Society 5.0. With regard to paid transportation services using private cars, it is necessary to review the current system so as to make it easier to use based on the users’ perspective. Collaborations with taxi operators reduce the burdens of municipalities and make possible safe services from the standpoint of users; they are beneficial for both sides.
 
Therefore, we intend to seek legislation which simplifies the procedures when taxi operators are to provide outsourcing service or participate in as service providers. These transportation services will be provided not only to local residents but also to tourists, aiming at the era of welcoming 40 million visitors from overseas a year. Furthermore, with respect to taxi services, we will make it possible by introducing ridesharing, including the utilization of IT, so that users can ride a taxi with inexpensive fee. With respect to drones, we also intend to expand out-of-view flights of drones. I would like the Minister of Land, Infrastructure and Transport to work with Minister Motegi to proceed detailed considerations with a view to incorporate them into the action plan for the growth strategy which we will compile this summer.
 
Secondly, we also held discussions on corporate governance. While the Abe Cabinet is highly praised by both domestic and foreign investors due to its corporate governance reforms, we are requested to further strengthen our reform efforts aligned with global standards, so as to further improve the competitiveness and modernity of Japanese corporations. In particular, there is criticism from investors that the governance reform of listing subsidiaries with controlling parent companies remains untouched. There is a possibility that trust of the Japanese market will be damaged. We will therefore swiftly formulate new guidelines and request accountability of parent companies, while encouraging subsidiary companies to increase the proportion of external directors, who are independent from the controlling shareholder. We will also consider relevant measures including the criteria used by the Tokyo Stock Exchange. I ask Minister Aso and Minister Seko to work with Minister Motegi to carry out detailed considerations with a view to incorporate them into the action plan for the growth strategy which we will compile this summer.”