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

December 9, 2013

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.

Japanese economy

The government's second preliminary report revised down growth domestic product figures for the July-September period simply because inventory investment increased less than expected. It clearly shows business is picking up. In fact, consumer spending has been expanding and capital investment is anticipated to increase. The Japanese economy will keep growing steadily without doubt. The government launched a stimulus package, "Economic Measures for Realization of Positive Cycles" last week to avoid business downside risk triggered by consumption tax rate raise scheduled next spring. There is no major negative factor to shade the bright future of Japan's economy.

Trade deficit

Energy import expansion has been a main reason of the recent trade deficit increase. It is necessary to reactivate nuclear power plants as soon as the safety is confirmed.

U.S. economy

The jobs situation has improved in the United States. The unemployment rate has dropped to 7.0%. It has made financial markets nervous about the Federal Reserve's possible action to reduce its monetary stimulus. Housing starts and car sales remains strong. Personal consumption will help the U.S. economy gather steam. It will have a positive impact on the Japanese economy.