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

May 21, 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.

G8 Summit

The summit was a prime opportunity for leaders of 8 major nations to have face-to-face discussions. It was great that Prime Minister Yoshihiko Noda has conducted active, top-level diplomacy, bringing up efforts to strengthen the International Monetary Fund's financial base and the Chiang Mai Initiative as a response to the European debt crisis.

Re-election in Greece

According to some opinion polls, public sentiment in Greece appears to be heading in the direction of supporting fiscal austerity. A total collapse of the Greek economy would have a disastrous impact on Europe’s real economy through destabilization of the financial system. The choice ultimately lies in the hands of the Greek people and it is to be hoped that they choose a path for reconstructing the country.

Prospect for corporate performance

While production and exports are moderately recovering, further appreciations of the yen would deliver a huge blow to exports, and reductions in Asian exports to Europe due to a return of the European debt crisis would have secondary impact on the Japanese economy. With the future of corporate performance depending upon the course of the yen's appreciation, it is desirable that the Japanese government and the Bank of Japan will address these issues in a flexible manner with particular focus on movements in the global economy and exchange rates.

Introduction of autumn enrollment and so-called "gap term" at the University of Tokyo

University of Tokyo President Junichi Hamada has often commented on his desire to "foster tough University of Tokyo students." Participation in community service or summer schools during a half-year period before entering college would allow students to improve themselves as persons by broadening their viewpoints. Business enterprises also have great expectations for such persons.