Lost Decade (Japan) Decade. However, several Japanese policymakers have attempted reforms to address the malaise in the Japanese economy. After Shinzo Abe was elected as Japanese prime minister in December 2012, Abe introduced a reform program known as Abenomics which sought to address many of the issues raised by Japan's Lost Decade. His "three arrows" of reform intend to address Japan's chronically low inflation, decreasing worker productivity relative to other developed nations, and demographic issues raised by an aging population. Investor response to the announced reform was strong, and the Nikkei 225 rallied to 20,000 in May 2015 from a low of around
Hakubun Shimomura deputy chief cabinet secretary in the first government of Shinzo Abe in 2006. Shimomura was again appointed to the Cabinet by Shinzo Abe as minister of education, culture, sports, science and technology on 26 December 2012. As minister, Shimomura expanded the ability of local schools to provide Saturday classes and pushed for the globalization of Japanese universities by increasing English skills and hiring more foreign faculty. He oversaw preparations by the Organising Committee for the 2020 Summer Olympics on behalf of the national government in Tokyo before being replaced by Olympics Minister Toshiaki Endo on June 25, 2015. Following the