Following is the gist of remarks made by Hiroshi Okuda, Chairman, Nippon-Keidanren at a scheduled press conference following monthly Chairman and Vice Chairmen's meeting on 8 December 2003. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.
(On economic performance)
As far as large Japanese companies are concerned, both business confidence and corporate performance are rapidly improving -- Iraq issue could be a possible risk factor. Foreign exchange will affect corporate performance, but most companies should have hedged the risk enough so it will not affect much on fiscal 2003 account.
(On pension reform)
An emergency meeting against raising pension premium will be held tomorrow by Nippon Keidanren and other major economic organizations. Nippon Keidanren is strongly against raising the pension premium to 18% or 20%.
(On political donation)
At today's Chairman and Vice Chairmen's meeting, there were discussions on methodology on how to evaluate political parties' performance, and an agreement was reached on grading political parties based on policy priorities of Nippon Keidanren. It will be up to each company to decide how much to donate and to which party (parties).
(On supporting reconstruction of Iraq)
Japanese companies could play a part in reconstruction businesses if given a fair chance in bidding or allocation process as it has long years of experience in doing business in Iraq. However, I personally don't expect too much from doing business there.
(On bullet train issue in China)
I have been guessing that bidding will be done in due course, and that's how Prime Minister Mr. Wen Jiabao disclosed to the German Chancellor Gerhard Schroeder. I will be in close touch with Japanese companies alliance and will visit China again as early as possible to discuss on this matter.
(Disciplining Takefuji)
Today, Takefuji called us and asked to discipline itself. Nippon Keidanren decided to discipline Takefuji to voluntarily halt its membership activities, based on its Charter of Corporate Behavior.