Government-business Relations in Japan - The Ministries

The Ministries

• The Ministry of Finance establishes low interest rates and, by thus reducing the cost of investment funds to corporations, promotes industrial expansion.
• METI is responsible for the regulation of production and the distribution of goods and services. It is the "steward" of the Japanese economy, developing plans concerning the structure of Japanese industry. The former MITI had several special functions: controlling Japan's foreign trade and supervising international commerce; ensuring the smooth flow of goods in the national economy; promoting the development of manufacturing, mining, and distribution industries; and supervising the procurement of a reliable supply of raw materials and energy resources.
• The Ministry of Land, Infrastructure and Transport is responsible for oversight of all land, sea, and air transport. It is charged with supervising all construction in Japan and Japanese-supported construction abroad. Its responsibilities also include land acquisition for public use and environmental protection as it relates to construction.
• The Ministry of Health, Labour and Welfare is responsible for supervising and coordinating all health and welfare services.
• The former Ministry of Posts and Telecommunications was responsible for the postal service and electronic communications, functions now filled by Japan Post and Nippon Telegraph and Telephone and their private competitors.