Following is the gist of remarks made by Mr. Hiroshi Okuda, Chairman of Nippon Keidanren, at a scheduled press conference on 24 December 2002. Translation is rush and tentative, and sequence of the gist may not necessarily coincide with words delivered.
(On FY 2003 budget)
As Japan's economy continues to stagnate, it is inevitable that the government to expand issuance of national bond to 36 trillion yen. As Minister Takenaka said, Japan is undergoing transition phase and number of alternatives is very small. Japan must go through this transition period for two to three years before it can proceed to recover primary balance by imposing austerity budget by 2010 or 2011. Requests for additional public spending will push Japan back towards pre-restructuring days and are unacceptable to Nippon Keidanren. The government must refrain from conventional public works and concentrate on IT-related and other necessary future-oriented investment -- this might include road construction, but not those on which only bears would run.
(Benchmarking Koizumi Administration)
I remember well that I gave 15 points and 30 points respectively in early going of the Koizumi Administration. Now, having seen various measures undertaken and being considered seriously, I think the Administration deserves 50 points against total 100 in the scale of restructuring the Japan's economy.
(On recent political party realignment)
All the parties must have clear concept and policy framework in seeking their own destinies. I favor two-party politics, but Japan's current situation does not let me preclude possibility of the future path.