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–Russia relations leaders decided to sign off on joint projects in five areas — aquaculture, greenhouse farming, tourism, wind power and waste reduction. At the 2018 Thirteenth East Asia Summit in Singapore, Shinzo Abe followed up on a proposal from Vladimir Putin to sign a peace treaty without preconditions by the end of the year. He said that the leaders would seek a peace treaty to the terms of the 1956 Soviet–Japanese Joint Declaration. The declaration gave Japan the Habomai islet group and Shikotan while the Soviet Union claimed the remaining islands, but the United States did not allow the 1956 treaty.