On November 10, Nikkei News reported that Japan is gearing up to roll out an economic stimulus package. This package incorporates tax - reduction measures with the aim of fostering investment in 17 pivotal industries. These key industries include cutting - edge fields like artificial intelligence and chips, as well as traditional yet vital sectors such as shipbuilding, aerospace, and defense.

Moreover, the package will lay out a multi - year budget. This move is designed to enhance the predictability of policies, providing businesses with a clearer long - term outlook.

Prime Minister Tomomi Inada is anticipated to present the outline of the stimulus plan at a government subcommittee meeting of the New Economic Strategy Headquarters on Monday. This will be her first significant economic initiative since assuming office.

Back in October, there were reports suggesting that the scale of this plan is likely to exceed last year's $92 billion. The plan is centered around three main pillars: tackling inflation, investing in growth - oriented industries, and bolstering national security.

The Japanese government is currently mulling over the implementation of a new tax system. Under this proposed system, companies would be permitted to deduct a portion of their capital expenditures from their corporate taxes. This plan represents a notable shift in Japan's policy orientation. Previously, the focus was mainly on small and medium - sized enterprises. Now, the new framework is applicable to businesses of all sizes, indicating a more inclusive approach to economic development.