TOKYO: The creation of new value through digitalization is a key challenge for Japanese companies in 2021, Japan Business Federation Chairman Hiroaki Nakanishi said in a New Year’s interview.

“What matters most to strengthen Japan’s economic growth and competitiveness is how much the country can truly realize digital transformation,” said the leader of the country’s biggest business lobby, better known as Keidanren.

“The key is whether companies will be able to conduct activities to create value” by promoting digitalization, he added.

Nakanishi said that 2021 should be a year to overcome the novel coronavirus crisis by mobilizing all economic forces with a national determination.

The business community hopes to make 2021 “a year to accelerate growth on a new path,” he said.

Meanwhile, Keidanren will make the utmost effort to build a sustainable economy society focusing on resolving social issues, instead of increasing shareholder returns alone, he said.

Nakanishi also said Keidanren will promote private-sector efforts for technological innovations in the energy field to help the government realize its goal of reducing the country’s greenhouse gas emissions effectively to zero by 2050.

“The business community as a whole should tackle the issue from a medium- to long-term perspective,” he said.

Nakanishi expressed concern about the situation surrounding the nuclear power industry, which is struggling to restart reactors after the March 2011 triple meltdown at Tokyo Electric Power Company Holding Inc.’s Fukushima No. 1 plant.

“Japan will fall behind other countries if it stops discussions,” he warned, calling for thorough talks on what to do about nuclear power.

He gave the interview online as he has been in hospital since July last year due to a relapse of lymphoma.

“It’s not easy to leave hospital as I’ve had a relapse, but I strongly hope to fulfil my duties as Keidanren chairman,” he said, adding he will continue to do the job by utilizing online systems.

JIJI Press