Following is the gist of remarks made by Hiroshi Okuda, Chairman, Nippon-Keidanren at a scheduled press conference on 26 January 2004. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.
(Remarks on past statement over personal spending on life insurance)
I have been saying that amongst series of restructuring ongoing in the Japan's society, and upcoming increase in social insurance premium and tax, household spending must be no exception. If one buys many different insurance schemes and pays excess premium, one must review it to cut down spending. This is all what I said and I regret if my statement affected life insurance business in any sense.
(On report by Labor Policy Council of Ministry of Health, Labor, and Welfare on extending mandatory employment to age 65)
As Japan's population expected to decline in medium to long range, companies will have to employ more women and elders. I understand that already many companies do employ elders after their retirement age. However, making retirement age mandatory by law is a different story -- it does not make sense and I cannot agree with introducing a law while companies do already feel the necessity in doing so.
(On foreign exchange)
I understand that the current intervention policy by concerned authority is appropriate.
(On ITER project)
I heard that there is a proposal to split site between France and Japan. This could be a possible settlement if at all technically possible. Japan's concerned authorities, however, should seek to bring everything to Japan.