Following is the gist of remarks made by Mr. Takashi Imai, Chairman, Keidanren, at a scheduled press conference after monthly Chairman and Vice Chairmen's meeting on 1 October 2001. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.
(Asked on the current state of Japanese economy)
Short-term economic outlook (tankan) published by Bank of Japan was as bad as I expected. Companies expect this bottoming of the economy would continue until end of the year. Facilities investment, which has been the driver of economy, is still seeing a little, if not zero, growth. These and other indicators suggest the troubled state of economy would continue. I expect the stock price level to hover around 1000 TOPIX or 10000 Nikkei level -- I see no reasons to have another sharp drop.
(Asked on possible Japanese cooperation towards the U. S.)
The terrorist attacks are acts of enemy against all human beings. Japan should be prepared to safeguard its own interest. It should also support its ally, the U. S., even though its possible actions are limited by the constitution. What it could do might include offering diplomatic support, transport cargo or refugees, or providing medical support.
(Asked on the Ministry of Finance proposal to add special tax for companies implementing consolidated tax returns)
Keidanren wish to capitalize the favorable wind toward implementing consolidated tax returns. However, to implement special tax for those implementing the new scheme is not tolerable, nor having existing deficits excluded from the initial consolidation.
(Asked on the state of medical reforms)
Keidanren is conducting a review with Nikkeiren so that a new proposal will be filed by end of October. The Health, Labor and Welfare Ministry's draft plan is not sustainable, not fair on burden level, nor would it satisfy those who are worried about their future medical bills. In any case, cap on spending must be implemented.
(Asked on Imai's planned visit to the U. S.)
We have been wondering whether the planned Japan-U. S. Business Council in Washington, D. C., later in October, should actually take place or not. However, we have come to conclude that as businesspeople of the U. S. ally, it is very important to share views with the U. S. counterpart, especially in this troubled times.