the leader of japanan industry, mimura akio says stability and continuity of policies are important whenry is experiencing difficult times. mimura hopes suga will show strong leadership so people in japan can have a bright future after the pandemic subsides. >>> we spoke with an expert about the economic issues s sa may face as prime m minister. columbia university prprofessor ito o takatoshi specialized in japanesese govnmenent policy. he ss some serious work lies ahead. >> biggest challenge f for japa is to tacklee with or cope with the declining population and aging of the society. >> reporter: it o takatosi says japann f faces a futuree in whi more people are receiving social security than paying into the system. >> many japanese e elderly, inclcluding myself, are working fine around retirement age, so they should be allowed to continue to work, putting into the social security contributions, and getting bigger social security benefits. >> reporter: ito adds, japan will have to re-evaluate its traditional lifetime employment system in order to increase labor market fluidity and produ

. >> mimura said small and medium-sized firms have found themselves in uncharted territory. demand has dried up. mimura said if there is another surge in infections and a sececd state o o emergency, m many companies will go under. the chairmaman of the japan business federation said suga's cabinet is facing several daunting challenges. he said ministers will need to oversee a major transition to digital technology and do more to promote energy and environmental policies. he said they will also have their work cut out advocating a shift back to a free and open global economic order. he said he hopes suga will use strong leadership to promote a range of social reforms. the bank of japan has decided to keep its current monetary easing policy unchanged. it is also maintaining a program worth more than $1.2 trillion to support companies hit by the coronavirus pandemic. policymakers wrapped up a two-day meeting on thursday. they have decided to maintain the negative short-term interest rate and buy unlimited amounts of government bonds, but they have revised their assessment of th