Two things give reason to hope: The leadership of e-commerce retailer Hiroshi Mikitani in the administration's reform councils and Mr. Abe's commitment to bring Japan into the Trans-Pacific Partnership free-trade negotiations.

WSJ: Review & Outlook: Mr. Abe's 'Third Arrow'

But there are two reasons to hope: The leadership of e-commerce retailer Hiroshi Mikitani in the administration's reform councils and Mr. Abe's commitment to bring Japan into the Trans-Pacific Partnership free-trade negotiations.

WSJ: Review & Outlook: Mr. Abe's 'Third Arrow'