Japanese Prime Minister Fumio Kishida. Picture: GETTY IMAGES/TORU HANAI
“In a time of emergency we must put together what is needed to protect the lives and incomes of people,” he told reporters. He promised he will look to attract more semiconductor manufacturers to Japan including makers from the US as he looks to shore up domestic chip production. Stock market investors gave the stimulus a lukewarm reception, with shares paring losses when initial reports of its size emerged on Thursday. The Topix finished up 0.4% Friday.
But opinions varied on a plan to hand out cash to families with children aged 18 or under that is set to be included in the stimulus package. Only 20% approved of the $875 per child handout plan as it stands, with almost 34% of respondents in the rapidly ageing country saying there was no need for a financial support plan focused only on children.