Our consistent growth strategy is to provide an expanding range of innovative medical devices which can help to improve care and outcomes for patients in an increasing range of applications.
The Group's growth strategy aims to combine organic growth through strong brand building and external growth via selective acquisitions of brands and businesses.
Our growth strategies contain major investment initiatives, including actions to strengthen public investment and improve our domestic investment and financing climate, which is essential to attract new private sector finance for investment.
The growth strategy has set a target of boosting private-sector capital investment to a total of 70 trillion yen in three years, but this numerical target is actually causing some of this turmoil.
As mentioned earlier, the growth strategy-- which aims at restoring the flexibility and adaptability of Japan's economy and raising its potential-- is extremely important for Japan.
Now that the Bank of Japan has taken monetary easing one step further at the end of last month, I think that the original third arrow of Abenomics, the growth strategy, must also fly faster.
Regarding the effects on Japan from the U.S. withdrawing from the TPP, the Sankei declared,“This will destroy the foundation of Japan's growth strategy,” and argued that Japan should collaborate with other TPP member states to“urge the U.S. to reconsider, even if it takes time.”.
For the previous fiscal year, we have taken prompt measures, such as partially reviewing our objectives* based on risk control and the adjustment of tactics of each business in light of recent changes in the business environment but the Group's growth strategy remains unchanged.
As is well known, the first and second arrows in the quiver of Abenomics- an expansive monetary policy and a flexible fiscal policy- are designed to revitalize the economy in terms of aggregate demand, but the growth strategy is to bolster the supply side.
In other words, while monetary policy and fiscal policy are the policies to restore economic strength from its temporary decline to being in a sound state, the growth strategy is meant to raise the capabilities of the economy itself.
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