Following is the gist of remarks made by Hiroshi Okuda, Chairman, Keidanren at a scheduled press conference following monthly Chairman and Vice Chairmen's meeting on 12 October 2004. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.
(On rise of crude oil prices and possible effects on Japan's economy)
Rise in the oil price hasn't caused extensive damage on the Japanese economy until now, but it might be otherwise if this trend would continue. How long the current trend would prolong is uncertain. Until now the slow down of Chinese and the U. S. economy has been limited and they are not likely to cause problems in near future either.
(On proposed revision of Anti Monopoly Act)
Keidanren is not satisfied by the agreement by the LDP Committee on proposed revision of the Anti Monopoly Act, including the rise of surcharge from current 6% to 10%. At the same time, there are needs to alter other parts of the current JFTC scheme including bringing in legal expertise and separating the role in both prosecutor and judge in its making decisions.
(On the government tax panel's discussion to shrink or abolish income tax cuts)
Public would suffer increase in income taxes, causing further decline in disposable income if income tax cuts will be shrunk or abolished, possibly causing negative effects on the Japan's economy. The government is expected to alleviate negative impacts on middle-income class households if it carries out the revision.
(On Daiei's debt problems)
Daiei and related parties should discuss the issue thoroughly in arriving at a solution that is acceptable to all concerned promptly.
(On prosecutors raiding over improper practice of UFJ)
Having such an important company to conduct improper actions is very much regrettable. Keidanren might consider disciplinary measures after learning more fact in days to come.
(On Keidanren's position on arms export ban)
It has been mistaken, but Keidanren's stance on this is to make it possible for Japan to further promote technology development in its defense industry that will in turn promote civil use technology, reflecting global trend. Keidanren honors Japan's peaceful contribution to the globe and it has proposed changes in the scheme within this limitation.
(On increasing likeliness of Kyoto Protocol ratified into a real treaty)
I do believe that Japan could keep the promise based on Kyoto Protocol, though technology development and radical changes in the people's lifestyle are necessary.