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Executives' Comments  Press Conferences Chairman Yonekura's comments at his Press Conference

March 26, 2012

Following is the gist of remarks made by Chairman Yonekura at his Press Conference. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.

The Japanese Economy

Concerns about the European debt crisis fading and the U.S. economic recovery leading to a weaker yen as well as higher stock prices, the Japanese economy is starting to shine brighter. The quake debris disposal is a key element in the natural disaster recovery process as it helps promote reconstruction projects in full swing. It is going to be a huge boost to the nation's economy. There is, however still a possibility that fiscal austerity in the European countries may depress the economy in the region and cause the value of the yen to rise again.

The Bank of Japan has played an important role in the past year. The BOJ has supplied ample funds to strengthen the foundations for corporate growth and has recently decided to maintain its loose monetary stance to achieve a 1% inflation target. These policies deserve appreciation.

Tokyo Electric Power Company Management

Tokyo Electric Power Company (TEPCO) should never fail to make every streamlining effort and take accountability for its electricity rate hike plans. It is important for TEPCO to maintain vitality as a private company while the government needs to make it clear how to get involved in the electric company's management.

Japan's energy policy is being reviewed by the government from both short- and mid/long-term perspectives. The government desperately needs to explain to the people about its basic policy stance on the crucial issue - how to meet near term electricity demand.

Executives' Comments