Economy of Japan employment system to drive higher wages, on top of monetary and fiscal stimulus. Shinzo Abe has encouraged firms to raise wages by at least three percent annually (the inflation target plus average productivity growth). Shareholder activism is rare despite the fact that the corporate law gives shareholders strong powers over managers. Under Prime Minister Shinzō Abe, corporate governance reform has been a key initiative to encourage economic growth. In 2012 around 40% of leading Japanese companies had any independent directors while in 2016 most all have begun to appoint independent directors. The government's liabilities include the second largest public debt
Shinzō Abe Communist and Social Democratic parties walked out of the vote in protest at what they said was the government's move to force the bills through without sufficient debate and ignore "responsible opposition parties". Abe countered by arguing that the bills had been debated for "as many as 113 hours" before the vote. While common practice in many other parliamentary democracies, a government using its majority to "railroad" controversial bills though the Diet in the face of political and public opposition is a subject of criticism in Japan. As a result of these moves, Abe faced a public backlash, and opinion