(Provisional Translation)

Appointed Prime Minister, today I assumed the grave responsibility of determining our nation's policies in a coalition government with the New Komeito and the New Conservative Party.

In order to restore the faith of the people in politics, I am resolved to make this Cabinet the "Ceaseless Reform Cabinet," based on my view that "without structural reform there can be no economic recovery." I will advance political structural reform while at the same time leaving no sacred areas exempt from reforms in Japan's social and economic structures, thereby gaining the trust of both the people of our nation and the market in them.

The top priority for this Cabinet is to revive the Japanese economy. To ensure that there is a revival in our financial and industrial sectors, I will swiftly implement the recently announced Emergency Economic Package, beginning with efforts to dispose of non-performing loans. Moreover, in order to stimulate new industries and expand employment opportunities, I will boldly implement sweeping regulatory reform without regard to conventional approaches in a wide range of areas such as the information technology (IT) sector, while working to promote greater investment in research and development of advanced science and technology, which underpin the industrial competitiveness of our nation.

Similarly, with regard to fiscal structure and social security, I intend to outline a path for medium- to long-term overall reform in order to establish rules and to engender the trust of the people in them.

Furthermore, I will thoroughly implement administrative reform encompassing reforms of special public institutions and public service corporations, in line with the principle that all that can be accomplished by the private sector should be left in the hands of the private sector, and all that can be delegated to local government, should be delegated to local government.

Education reform will remain a priority of this Cabinet, as we strive to cultivate people who are aware of and take pride in our nation's traditions and culture and what it means to be Japanese, while understanding the ways of international society.

On the diplomatic front, based on the foundation of the Japan-US alliance, I will enhance Japan's good relations with its Asian neighbors, beginning with the People's Republic of China, the Republic of Korea and the Russian Federation, while contributing to the peace and prosperity of the Asia-Pacific region. Moreover, I will demonstrate international leadership befitting the status of our nation on matters such as global environmental issues.

I am resolved to fully bear my responsibility as Prime Minister and head of the Cabinet through direct leadership of fora such as the Council on Economic and Fiscal Policies, and to make thorough use of the strengthened functions of the Cabinet resulting from the reform of central government implemented earlier this year. The process of achieving economic recovery through structural reform will involve pain. In implementing reform, I intend to put into practice "politics of trust," that consider both the benefits of policies and their shortfalls from the viewpoint of the people of our nation, without prejudice or reserve, and without regard for vested interests or institutional theories. This process will be fully open to public review as I seek the broad understanding of the people.

In this, I ask from my heart for the understanding and cooperation of the people of our nation.