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In an effort to boost the country's sluggish consumer spending, Japanese policymakers and business leaders are considering plans to let their employees get off work at 3 pm on the last Friday of each month, encouraging them to go shopping, eat out, or spend a lot of their time.

The government and businesses are discussing this proposal, called "Premium Friday." According to two informed sources, the plan is expected to begin implementation in February next year.

Retailers, who are wistful about consumer spending, say they welcome such a plan.

"We hope that as Friday becomes part of the weekend, this will bring about a change in lifestyle," said Tetsuya Konnai, head of the Japan Department Store Association.

"This may change the mindset of consumers."

But in a country like Japan where long working hours are common, companies are reluctant to accept the plan, and whether the plan really boosts consumer spending is problematic.

The latest economic growth data show that Japan's consumer spending continues to be weak. Japan's Cabinet Office released data show that in the third quarter gross domestic product (GDP) annual growth rate of 2.2% qoq, far more than market expectations of growth of 0.9%. But about 60% of GDP of private consumption only increased by 0.1%.

Japanese government efforts to stimulate consumption in the past, such as energy-saving appliances in 2009 tax breaks, increased consumer spending but did not promote sustainable growth. More recently, this year is a one-time subsidy to low-income seniors, but failed to significantly stimulate spending.

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