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 9 February 2004. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.
(On verdict over fee of blue-LED invention)
20 billion yen the court ordered Nichia Corporation is extraordinarily compared with the company's performance. In future, companies should write down explicitly over how to compensate its employees over invention at work in its labor contract and/or job regulations. It is a welcome sign that the Article 35 of the Patent Law is under review even though the draft proposal needs further work.
(On agreement by the ruling coalition on pension reform)
It is regrettable to find 18.30% as the upper limit of pension premium as the business community has been pushing for 15% and private sector member of Council on Economic and Fiscal Reform pushed for 16%.
(On G7 meeting and on foreign exchange rate)
It is appreciated that the G7 meeting found a consensus that "excess volatility and disorderly movements in exchange rates are undesirable." On the other hand, the words "more flexibility in exchange rates is desirable" were also incorporated in the statement. It cannot be judged, therefore, which is more emphasized before one watches the market during the next few days. For those companies exporting in dollar terms, 105 yen to a dollar may be the line that must be protected.