Following is the gist of remarks made by Hiroshi Okuda, Chairman, Keidanren at a scheduled press conference on 22 November 2004. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.
(On rise of yen's value)
The current fluctuation of currencies is depreciation of dollar rather than appreciation of yen, mainly due to the twin deficit of the U. S. is large. If current rate would prolong, there might be negative effects on corporate performance, but one should not rush to a conclusion without monitoring the market for some time.
(On reduction or abolition of income tax cuts)
The government is expected to make decisions by monitoring economic trend. The issue is not to make decision on to do or not to do, but how, depending on the status of Japan's economy.
(On reported EPA between Japan and Philippines)
I understand that two countries came to agreement on most of items. We appreciate effort of government officials. We expect that Japan can also reach agreement with Thailand and Malaysia as early as possible. Japan should also work hard to arrive at as many EPAs as possible, with other countries such as Indonesia.
(On Japan China summit meeting)
I believe that the fact two tops sat together and discussed bilaterally is a positive sign. It is a consensus of Japan's businesses that bilateral political relationship should not cool down with its own promotion of the bilateral economic relations.
(On the central government's attempt to reduce subsidy to local governments)
Looking at the issue objectively, I see both the central government and local governments facing a difficult situation. However, both parties should, therefore, speed up the discussion to come to conclusion before Prime Minister Koizumi returns to Japan. In doing so, both parties should not forget 3 trillion yen subsidy would be cut within two years.
(On "marketing test" of a part of public services)
I fear that future administrative reform is at risk if the government takes negative stance at the "marketing test" of a part of public services. I hope that the government understands of this fully and implement the test accordingly.
(On reviewing 3 principles prohibiting Japan's arms export)
Keidanren is hoping that the government reviews the principles to enhance Japan's science and technology standards.