The Japan Business Federation, or Keidanren, will propose measures to utilize foreign workers and an energy policy, with an eye toward 2040, around when Japan's elderly population is expected to peak, Keidanren Chairman Masakazu Tokura said in a recent interview.

The association will draw up a medium-term vision of the economy and society called "Future Design 2040," according to Tokura.

Tokura, who is now in his final year as Keidanren chief, said that he will put importance on public relations skills in the process of selecting his successor.

In Japan, there are concerns that its aging population will constrain sustainable growth as labor shortages worsens and consumption shrinks.

To address the challenge, Tokura said that Keidanren will set up a new committee on foreign workers policy, and that the committee will release policy proposals in January next year.

"We need society and the people (of Japan) to feel" the need to utilize foreign workers, Tokura pointed out. He noted that Keidanren is considering cooperating with other private organizations to realize envisioned policy measures.

To dispel fears about the future among younger generations, Tokura said, "We aim to build a pan-generational social security system that is fair and sustainable."

On his successor, Tokura said, "I have not approached anyone or decided anything yet." He said he wants to choose "a person who can grasp a mountain of social challenges from a broader perspective and consolidate and disseminate the opinions of the business community."

Meanwhile, Tokura emphasized that wage increases at small and midsize businesses are very important for structural wage growth. He indicated that Keidanren will revise its Charter of Corporate Behavior to improve the effectiveness of companies' promises to realize reasonable prices in transactions with suppliers.