By Mary Jordan
Washington Post Foreign Service
Saturday, August 1, 1998; Page A21

TOKYO, July 31—In his first news conference as prime minister, Keizo Obuchi today repeatedly promised swift action on Japan's financial problems even as he was handed news that the unemployment rate had hit a new high.

"This is a cabinet that will be able to resolve issues one after another in a decisive and speedy manner," Obuchi said, speaking confidently for an hour barely looking at his notes. "I will do all I can to implement the financial rebuilding plan as early as possible."

Obuchi said he hopes to achieve economic recovery within "a couple of years" by taking "all possible measures," including permanent tax cuts.

In a nod to his awareness of the growing international concern about Japan's worst recession since World War II, Obuchi created a new position, a special adviser to explain the content and pace of the government's fix-it policies. Toyoo Gyohten, former chairman of the Bank of Tokyo and well known in foreign financial circles, will take up the job as liaison to the international markets.

As Obuchi was told that Japan's official unemployment rate rose to 4.3 percent in June, the highest since records started being kept after World War II, President Clinton added his voice to those concerned about Japan's economic health.

"It's going to be very difficult for Asia to recover unless its leading economy, Japan, leads the way," Clinton said in Washington. Clinton said he expected to talk to Obuchi on Saturday. "We hope that this new government can find the keys to restore to the Japanese people, who have a great economy and great society, the growth that they deserve," Clinton said.

The Japanese parliament has just begun a 70-day session to pass legislation aimed at correcting the economic course. Because Obuchi's ruling Liberal Democratic Party has a majority in the lower house but not in the upper house of parliament, he will need all his powers of persuasion to get the fractious lawmaking body behind his efforts.

Obuchi repeatedly stressed that he intends to be single-minded in his efforts to "quickly" fix the economy, but he also acknowledged the enormous task ahead, saying he is, after all, no "Superman." A well-liked man who is known mostly for his easy-going nature and behind-the-scenes politicking, a confident and self-assured Obuchi surprised some of his critics today.

Japan's new financial watchdog also announced today it is working to end the corrupt era of collusion between banks and government bureaucrats. The Financial Supervisory Agency announced penalties against 13 big banks and brokerages for wining and dining government officials in an ongoing bribery scandal.

Obuchi once again rejected the idea of dissolving parliament's lower house for snap elections. The opposition, sensing a lack of public support for Obuchi and the ruling party, is pushing for general elections, but party officials fear they will be drubbed again at the polls, as they were in the July 12 upper house election. That vote led to the resignation of prime minister Ryutaro Hashimoto and Obuchi's rise to that post.