Japanese Prime Minister Calls for Wage Growth Amid Economic Transition

Japanese Prime Minister Fumio Kishida emphasized the need for sustained growth in wages and investment to overcome deflation. He announced he would step down as party leader and not participate in the upcoming leadership race scheduled for September.

Japanese Prime Minister Fumio Kishida stated on Wednesday that the government must prioritize the promotion of wage growth and investment to achieve a lasting exit from a deflation-prone economy.

During a news conference, Kishida announced his decision to resign as the ruling party leader and confirmed that he would not be running in the party's leadership race expected to take place in September.

(With inputs from agencies.)