RIETI is an incorporated administrative agency (IAA) that was launched on April 1, 2001, to conduct research primarily on economic and industrial affairs and policies, and to publicize and disseminate the results and findings. Since April 2006 (the start of FY2006), our projects have been undertaken in line with the second set of medium-term objectives established by the Ministry of Economy, Trade and Industry (METI) and the corresponding second five-year medium-term plan formulated by RIETI.

The second set of medium-term objectives set forth four research themes as the Major Policy Research Domains to be examined continuously over the five-year period: 1) Maintaining Economic Dynamism under the Adverse Demographic Conditions of Low Fertility and Aging Population; 2) Promoting Innovation and Strengthening International Competitiveness; 3) Formulating Japan's Strategy in Response to Globalization and Deepening Economic Integration in Asia; and 4) Compilation of the History of Japan's Trade and Industry Policy. Apart from these, we are vigorously working on diverse research topics that have been identified within RIETI and decided through communication with policy-making authorities.

These research activities have already produced a number of results in the form of research papers, seminars, and symposiums, which are available on the RIETI website. In fiscal 2009 (April 2009 - March 2010), we intend to further enrich and deepen our research findings, thereby reorganizing them into a comprehensive system of knowledge.

Meanwhile, drastic changes in the world economy triggered the financial crisis that began in 2008 have been seriously affecting the Japanese and global economies. Against this backdrop, RIETI is seeking to enhance its communication with the government and striving to disseminate various views and research findings on issues related to the ongoing economic problems, through collaboration with relevant institutions both in Japan and abroad.

With Japan's population now in decline, its associated and unprecedented challenges demand our proactive response. So then what policies are needed and why? To answer this question, we must facilitate research that is based on ideas put forward in a free and flexible manner from a broad array of perspectives. RIETI hopes to play a key role in building a platform for advancing such research.

We appreciate the continuing guidance and support of all those involved in our activities.