Following is the gist of remarks made by Hiroshi Okuda, Chairman, Nippon-Keidanren at a scheduled press conference after monthly Chairman and Vice Chairmen's meeting on 9 June 2003. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.
(Evaluation on Prime Minister Koizumi)
Prime Minister Koizumi's reform agenda are increasing its pace, and Japan's people are getting used to deflationary economy. Corporate performance is improving, and the government is finding daylight even though the path to get there might still be narrow.
(On President Roh (of Korea) comment on inviting Japan's investment)
Yes, Mr. Roh did invite Japan's investment. Labor related situation must be improved before we will observe substantial rise in investment. President promised that he would employ his own ways to resolve the issue. I have high expectations toward his commitment.
(Japan's FTA with Korea and Thailand)
I think that both countries' leaders are interested in securing FTA with Japan, and in each case agriculture issue will come in to the scene -- the pace of negotiation largely depends on how early Japan can reform its agriculture. I believe that Japan's interaction with each country is expected to rise. Japan's agriculture productivity must be dramatically improved so that it can compete with imported agricultural goods.
(On Japan's consumption tax reform)
The government must first cut unnecessary expenditure as much as possible, and use excess income for other necessary purposes. If there will be a need to seek another sources of tax revenue, then the government must increase consumption tax. Nippon Keidanren will urge the government to cut excess expenditure. As Nippon Keidanren has been telling the necessity to increase the consumption tax, the government increasingly understands the reason behind it.