The Economy and Society Study Group at Nakasone Peace Institute conducted a three year study on the subject of "The Transformation of Japan's Economy and Society after the Outbreak of the Novel Coronavirus Pandemic" for FY2020-2022. The research findings revealed that the Novel Coronavirus pandemic triggered several major changes in Japan's economy and society, including accelerated population decline, the diffusion of digital technology, and the impact on cities and regions. How to respond to this "new normal" will be a major point in considering post-pandemic socio-economic policies. These issues and their prospects from the discussions by the study group, as well as the direction of future policy responses, are summarized as follows.