Two Key Factors That Guide My Vote
Hello, this is Yo.
In Japan, the 50th General Election for the House of Representatives took place on Sunday, October 27, 2024.
As you might already know, elections are a rare opportunity for citizens to directly express their will. With the recent change in the Prime Minister, it's a crucial moment to convey our expectations to the leaders who will steer the country forward. This election is an opportunity for us to make our voices heard, and we should use it wisely.
First and foremost, Money Forward, as a company, does not endorse any specific political party or candidate. Personally, I also do not support any particular party.
However, as an entrepreneur who has been running a business for 13 years, I feel it's important to educate myself on the policies needed to brighten the future of our country. I support policies that focus on sustainable economic growth and long-term benefits, rather than short-term populist measures. I believe in expanding the economic pie for future generations.
To make informed decisions, knowledge is essential. To stay updated, I participate in forums like the Japan Association of Corporate Executives, where I can hear directly from politicians and share my ideas with them, as much as my schedule allows.
Some business leaders prefer to keep a cautious distance from politicians, and I understand their reasons. However, I believe that as a stakeholder in the future of Japan—a country I love deeply—it's beneficial to maintain appropriate collaboration with the political sphere, as long as it doesn't interfere with my primary business responsibilities.
In fact, as seen recently in the semiconductor and AI-related fields, national policies based on geopolitics have a massive impact on the economy. It is becoming a time when the public and private sectors must work together strategically; otherwise, they cannot win in the competition.
As the factors influencing global trends become more complex, business leaders who are well-informed and close to their users can provide valuable insights into the latest technologies and developments. This can help shape more effective and realistic policies.
Of course, there should be no room for corrupt practices. However, in countries like the United States, it's quite common for politicians and business leaders to communicate and collaborate on policy-making. To keep up with the global competition, I believe Japan also needs appropriate collaboration aimed at accelerating its growth.
It's essential to avoid self-serving actions that only benefit one's own company. Instead, we should foster environments where we can discuss Japan's future from both political and economic perspectives, with a high level of vision and integrity.
At the same time, we as citizens need to improve our "political literacy."
Members of the House of Representatives work for the country, but they can't win elections without the support of voters in their constituencies. Given Japan's aging population, politicians often favor policies that appeal to older voters, such as enhancing social security.
While it's important to strengthen social security to protect our livelihoods, I believe we should also prioritize economic policies that enhance Japan's national strength and expand the economic pie from a medium- to long-term perspective.
The mass media often highlights scandals and the negative aspects of specific politicians, but when you actually interact with them, the difference in perception can be surprising. Many politicians are tirelessly working to make Japan a better country, and I can't help but feel a deep respect for their efforts.
Elections provide an opportunity to compare the policy plans of each candidate, so it's a good time to gather information and make an unbiased decision.
The key phrase that resonates with the politicians I personally want to support is "promoting regulatory reform."
Regulatory reform is essential for Japan's future economic growth. It can create new business opportunities, fundamentally improve inefficiencies in existing industries, and address labor shortages. Despite the advancements in technology and the potential for societal implementation, outdated regulations often hinder progress across almost all sectors.
Regulatory reforms have historically been engines for solving social issues and nurturing new business opportunities.
For example, the deregulation of "online medical consultations" is one such case. The conventional wisdom that "you must visit a medical facility to receive care" was overturned by regulatory reforms that allowed online consultations. Initially, in 2015, online consultations were permitted nationwide for follow-up visits. In 2020, due to COVID-19, initial consultations were also allowed online, and this was made permanent in 2022. In 2023, location restrictions were eased, allowing online consultations even in places without resident doctors, such as community centers. This is a successful example of phased regulatory reform.
These changes have made it easier for people with various difficulties in visiting medical facilities to receive care, and they have had positive effects on mental health issues like depression.?
A society where anyone can access remote medical care will improve the lives of not just those in remote areas but everyone in need of medical services, solving many problems. Additionally, new players tackling these challenges are emerging, contributing to economic revitalization.
Overall, regulatory reform contributes to "improving national productivity" and serves as an engine for growth. However, it often faces opposition from existing industries that benefit from the current rules, leading to debates. The ongoing discussions about ride-sharing are a case in point in Japan.
Promoting regulatory reform can be a "risk" for politicians facing elections. Yet, those who dare to take on this challenge demonstrate a forward-thinking mindset and a strong will to improve the country in the medium to long term. As a business leader, I genuinely want to support such politicians.
Promoting regulatory reform advances the societal implementation of new technologies, fosters innovation, provides convenience to users, nurtures unique startups, drives economic growth, and creates jobs.
At the Japan Association of Corporate Executives' Comprehensive Startup Promotion Committee, which I chair, the importance of regulatory reform is always a central topic of discussion. I also emphasized this point during my speech at the "MUSUBU! JAPAN DAY" event hosted by the Japanese Bankers Association on October 1.
(You can find the recommendations from the Japan Association of Corporate Executives' Comprehensive Startup Promotion Committee in this article. Available in Japanese only, sorry)
Another crucial theme where politics and economics intersect is "work styles."
How we want to live our lives (being) in this era is closely tied to the direction we take in terms of work styles. This is something that can be significantly influenced by the outcome of elections.
Work styles have a profound impact on each individual's happiness and daily life. Depending on one's circumstances and life stage, the ideal way of working can vary. Therefore, diversity is essential in decision-making processes that determine work style policies.
At Money Forward, since Ms. Ishihara, who has excelled as the Head of Corporate Planning and IR, took on the role of CHO (Chief Human Officer) as a working mother, the perspectives of working women in the child-rearing stage have been incorporated into executive discussions. This has deepened debates on various issues and led to more positive decisions for the company. Given the numerous benefits to both management and the company as a whole, we place great importance on "Diversity, Equity & Inclusion (DEI)."
DEI aims to create an environment where people from diverse backgrounds are treated fairly and can easily participate. At Money Forward, we are advancing globalization, particularly within our engineering teams, and we already have members from over 30 countries. Last year, we established a "DEI Statement" to create an environment where members with diverse values can thrive while respecting each other's differences.
In political decision-making, aiming for a space where stakeholders with various perspectives can gather is also a valuable approach to solving societal issues. Observing the composition of the National Diet, it is evident that it lacks diversity, which means that the voices of various segments of society are not heard, leading to biased decision-making.
I also shared my thoughts on "work styles" in an interview with Nikkei Business, so please take a look if you're interested (available in Japanese only).
In conclusion, although I may have been a bit presumptuous, my ideal vision for Japan's future is a vibrant society where people can live energetically and authentically every day.
One of the reasons I founded Money Forward in 2012 was the inspiration I gained from the vibrant energy I experienced while traveling in Asia. This sparked my desire to contribute to Japan's growth.
I hope Japan continues to be a society that supports challengers, and that's why I value my vote in elections. I encourage everyone to cast their vote for politicians in your own country or jurisdictions who can be entrusted with our future. Let’s make a better world together.