Kishida Pushes ¥370 Trillion Growth Plan as Yen Intervention Buys Only Time

1 articles · Updated · The Japan Times · Aug 6

¥370 trillion in planned investment over 14 years is the long-term answer for Japan’s economy, Fumio Kishida said, arguing currency support alone cannot change the country’s trajectory.
Joint U.S.-Japan intervention announced Monday after Friday market action may steady the yen for now, but Kishida said it is not a game-changer unless Japan’s underlying economic conditions improve.
Kishida, who leads a ruling-party group advising Prime Minister Sanae Takaichi, said the strategy spans 17 strategic areas and is meant to accelerate growth rather than rely on exchange-rate management.
Semiconductors and AI were cited as early examples of sectors that could drive that expansion, while Kishida brushed aside concerns about how the package would be funded.