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
Japan–South Korea relations GSOMIA is automatically extended unless either of countries wants it to be demolished. In August 2017, South Korea and Japan decided to renew the agreement. Shinzo Abe, to increase its military profile in the region. Since Lee Myung-bak's visit to the Liancourt Rocks and repeated demands for the emperor to apologize again in 2012, the Japanese public's image of South Korea deteriorated significantly. Japanese tourists to South Korea declined by half from 3.5 million in 2012 to 1.8 million in 2015 while South Korean tourists doubled from 2 million in 2012 to 4 million in 2015. The Diplomatic Blue Book