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
Shinzō Abe April 2013, a new public event, the Restoration of Sovereignty Day, was held in Tokyo to mark the 61st anniversary of the end of the US occupation of Japan. It had been proposed by Abe in 2012. The event, which was attended by Emperor Akihito, was denounced by many Okinawans who saw it as celebrating a betrayal, and there were demonstrations in both Okinawa and Tokyo. In 2015, Abe's government refused to admit refugees affected by conflicts in the Middle East and Africa. Abe stated that Japan must solve its own problems before accepting any immigrants. Abe has favored short-term