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
Genki Abe reappointed to the same position in 1940. In 1941, Abe became Deputy Director of the Cabinet Planning Board. In 1945, towards the closing stages of World War II, Abe was made Home Minister under the Suzuki Kantarō administration and President of the Cabinet Planning Board. He was critical of Japan’s lack of adequate air raid shelters, which he asserted was due to the government’s fear of public reaction and concerns that this would interfere with war production. He was also outspoken in his opposition to acceptance of the Potsdam Declaration, one of the conditions imposed on the surrender of Japan,