Aso was chosen president Monday of the Liberal Democratic Party, paving his way to succeed outgoing Prime Minister Yasuo Fukuda. Aso may call general elections next month to firm up the position of his party, which currently leads the ruling coalition.

"We hope the new president, Aso, will faithfully and squarely tackle the reform package on tax, fiscal and social security systems and lay out a road map," Fujio Mitarai, chairman of the Japan Business Federation, said in a statement, Kyodo news service reported.

Mitarai said public concerns include rebuilding the slowing economy and removing a sense of stagnation, which have been blamed for the recent changes in governments.

Masamitsu Sakurai with the Japan Association of Corporate Executives also asked Aso to come up with a manifesto providing a time line and the financial resources needed to implement policies of high priority, Kyodo said.

Aso already has proposed short-term measures to stimulate the economy through tax cuts.