Following is the gist of remarks made by Mr. Hiroshi Okuda, Chairman of Nippon Keidanren, at a scheduled press conference on 28 October 2002. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.
(On outcome of Sunday's elections)
I am surprised to find the low voter turnouts. It shows how Japanese public at large -- sense of impasse and despair, conceives of Japan's politics and economics.
(On Minister Takenaka's proposed acceleration on writing off of NPLs)
With the Minister's decision to postpone full implementation of pay-off system, I think Japan's financial system is not as bad as reported. On writing off of NPLs, I hear a variety of stories from different sources but am not certain of the Minister's plans. The way he draws up his plans is understandable, considering his background as a college professor. However, I regret his excluding politicians and businessmen from his project team. With Prime Minister Koizumi back from Mexico, the government is expected to discuss on Mr. Takaneka's plan and to announce it within a few days. I sincerely hope that the government announcement include not only on accelerating NPLs disposals but also complemented by anti-deflation measures and social safety nets so that social damages that might be caused by economic pains will be absorbed.