PM Kishida shuffles Cabinet, commits to tackling rising prices

Japanese Prime Minister Kishida Fumio has laid out economic and other goals for his Cabinet, which he shuffled on Wednesday. A top priority is fighting rising prices. He said his government will take bold steps to respond to emerging factors that have roiled the global economy. They include the rise of both the Global South and AI technology.

At a news conference, Kishida said that Japan is facing drastic changes and must turn them into new opportunities to grow stronger. He said his government will support retraining employees, assist startups and help local economies grow, using digital technology. The prime minister also said the government will nurture new industries using decarbonization technology.

Kishida vowed to aim for sustained wage increases that outstrip price rises.

Turning to foreign and security policies, Kishida said he will nurture partnerships with other countries including the US and South Korea. He said he will also use various frameworks like the G7 to secure a free and open global order based on the rule of law.

Kishida said many countries around the world want Japan to play a role as a stabilizer in the fast-growing Indo-Pacific region. He said he will continue to raise Japan's standing and demonstrate leadership in promoting peace and international cooperation to garner respect.

Kishida also addressed the increasingly severe security situation surrounding Japan. He said it requires that the country drastically strengthen its own defense capabilities.

And he said it's necessary to step up cooperation with the US, South Korea, Australia, New Zealand and India.