February 5, 2020 

Japan's Cabinet on Tuesday approved a number of bills covering six new laws aimed at encouraging companies to allow employees to continue to work until the age of 70.

The move by the government is aimed at addressing part of the nation's growing demographic crisis that sees the population rapidly aging and simultaneously shrinking amid a falling birthrate.

This has resulted in an increasingly hollowed-out workforce and the severest labor crunch since the early 1990s, as the government is grappling to deal with ballooning social welfare costs with the rising numbers of Japan's graying population.

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