Business circles welcome stable gov't after upper house election

Business circles welcomed the results of the House of Councillors election Sunday as a victory for the ruling coalition that will put an end to the divided Diet for a stable government, and called for swiftly carrying out growth strategies to revive the economy.

An end to the divided Diet will ensure "a stable government at least for three years" until the next upper house election unless Prime Minister Shinzo Abe dissolves the lower house already controlled by the ruling coalition after its landslide victory last December, said Yasuchika Hasegawa, chairman of the Japan Association of Corporative Executives.

Hasegawa urged the government to secure economic growth and the reconstruction of areas hit by the March 2011 earthquake and tsunami, saying, "The next three years would be the last chance for Japan's revival."

Japan Chamber of Commerce and Industry Chairman Tadashi Okamura called on Abe to exercise powerful leadership to tackle outstanding issues.

The government led by Abe's Liberal Democratic Party and its junior coalition partner, the New Komeito party, "should first accelerate recovery from the disaster and revival of Fukushima and then make utmost efforts to realize an economic recovery that would spread to medium- and small-sized businesses and regions," he said.

Fukushima in northeastern Japan was devastated by not only the 2011 earthquake and tsunami but also by the subsequent crisis at the Fukushima Daiichi nuclear power plant.

Shosuke Mori, chairman of the Kansai Economic Federation based in Osaka, said he "highly welcomes" the election outcome, saying, "It's reflection of people's trust in economic policies of the Abe Cabinet."

He called on the ruling parties to swiftly carry out growth strategies "to put the Japanese economy on a revival track."