Japanese Prime Minister Kishida Fumio says his government aims to work out a concrete policy plan to reform the asset management industry by the end of the year.

Kishida spoke at the National Securities Conference in Tokyo on Monday. The gathering is part of a two-week series of events known as "Japan Weeks" to promote Japan's capital markets. Participants included representatives from overseas securities firms.

The prime minister said he hopes the best financial institutions and human resources in Japan and abroad will come together to improve their effectiveness. He stressed that he wants capital and financial and markets that provide superior products and services.

Kishida added that the reform plan will include support for firms to enter the field and enhance Japan's competitiveness.

Kishida told participants that the government has set this year as the first year in a program to double people's asset income. He said the government will boldly press ahead with an effort to shift people's holdings from savings to investments.

The prime minister emphasized that he wants people in the industry to use this opportunity to interact directly with people from overseas and deepen their thinking to invigorate Japan's financial and capital markets. He called on industry representatives to communicate the appeal of the Japanese market to the world.